Hecla Mining (NYSE: HL) agrees Casa Berardi sale to Orezone for up to $593M

Rhea-AI Filing Summary

Hecla Mining Company entered into a definitive agreement to sell its wholly owned subsidiary Hecla Quebec Inc., which owns the Casa Berardi operation and a portfolio of exploration properties in Quebec, to Orezone Gold Corporation for up to $593 million in total consideration. The transaction is expected to close in the first quarter of 2026, subject to certain conditions being satisfied. Hecla also issued a news release about the transaction, which is included as an exhibit along with the full agreement outlining detailed terms, representations and warranties.

Insights

Mining sector corporate actions analyst

Hecla plans a significant asset sale for up to $593 million.

Hecla Mining Company agreed to sell Hecla Quebec Inc., owner of the Casa Berardi operation and related Quebec exploration properties, to Orezone Gold Corporation for up to $593 million in total consideration. This represents a major portfolio shift focused on its Canadian assets.

The agreement includes customary representations and warranties, with qualifications set out in a confidential disclosure letter, indicating standard negotiated protections for both parties. Closing is expected in the first quarter of 2026, but remains subject to specified conditions, so completion is not yet certain.

From an investment perspective, the eventual impact will depend on the final consideration realized, closing timing, and how any proceeds are allocated within Hecla’s broader strategy. Subsequent disclosures, including future SEC filings and updates tied to the anticipated closing window in the first quarter of 2026, will provide more clarity.

false 0000719413 0000719413 2026-01-26 2026-01-26 0000719413 hl:CommonStockParValue025PerShareCustomMember 2026-01-26 2026-01-26 0000719413 hl:SeriesBCumulativeConvertiblePreferredStockParValue025PerShareCustomMember 2026-01-26 2026-01-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

Current Report

PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 26, 2026

HECLA MINING COMPANY
(Exact name of registrant as specified in its charter)

Delaware	1-8491	77-0664171
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

6500 North Mineral Drive, Suite 200

Coeur d'Alene, Idaho 83815-9408

(Address of principal executive offices) (Zip Code)

(208) 769-4100

Registrant's telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.25 per share	HL	New York Stock Exchange
Series B Cumulative Convertible Preferred Stock, par value $0.25 per share	HL-PB	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement

On January 26, 2026, Hecla Mining Company (“we,” “us” or “Hecla”) issued a news release announcing it had entered into a definitive agreement (the “Agreement”) to sell its wholly owned subsidiary, Hecla Quebec Inc., which owns the Casa Berardi operation, and a portfolio of exploration properties, all located in Quebec, Canada, to Orezone Gold Corporation (“Orezone”) for up to $593 million in total consideration. The transaction is expected to close in the first quarter of 2026, subject to certain conditions being satisfied.

The Agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

The Agreement has been incorporated by reference herein to provide you with information regarding its terms. It is not intended to provide any other factual information about us. Such information can be found elsewhere in other public filings we have made with the Securities and Exchange Commission, which are available without charge at www.sec.gov.

The Agreement contain representations and warranties Hecla and Orezone made. The assertions embodied in Hecla’s representations and warranties are qualified by information in a confidential disclosure letter that we delivered in connection with signing the Agreement. While we do not believe that it contains information securities laws require us to publicly disclose other than information that has already been so disclosed, the disclosure letter does contain information that modifies, qualifies and creates exceptions to the representations and warranties set forth in the Agreement. Accordingly, you should not rely on the representations and warranties as characterizations of the actual state of facts since they are modified in important part by the disclosure letter. Moreover, information concerning the subject matter of the representations and warranties may have changed since the date of the Agreement, which subsequent information many or may not be fully reflected in public disclosures.

The information disclosed under Item 8.01 is incorporated herein by reference.

Item 8.01 – Other Events

On January 26, 2026, Hecla issued a news release regarding the Orezone transaction. A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

2

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

10.1 Share Purchase Agreement dated January 26, 2026.* **

99.1 News Release dated January 26, 2026.**

104 Cover Page Interactive Data File (formatted as Inline XBRL).

** Furnished herewith

* The Vendor Disclosure Letter referenced in the Agreement is omitted, but Hecla agrees to furnish supplementally a copy of the Disclosure Letter to the Securities and Exchange Commission upon request.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	HECLA MINING COMPANY
	By:	/s/ David C. Sienko
		David C. Sienko
		Sr. Vice President, General Counsel and
		Corporate Secretary

Dated: January 28, 2026

3

FAQ

What major transaction did Hecla Mining Company (HL) disclose?

Hecla Mining Company disclosed a definitive agreement to sell Hecla Quebec Inc., which owns the Casa Berardi operation and related Quebec exploration properties, to Orezone Gold Corporation for up to $593 million in total consideration, marking a significant change in its asset portfolio.

How much is Orezone Gold Corporation expected to pay Hecla in the Casa Berardi deal?

The agreement values the sale of Hecla Quebec Inc., including the Casa Berardi operation and exploration properties, at up to $593 million in total consideration. This figure represents the maximum consideration outlined in the definitive agreement between Hecla Mining Company and Orezone Gold Corporation.

When is Hecla Mining’s sale of Hecla Quebec Inc. to Orezone expected to close?

The transaction is expected to close in the first quarter of 2026, subject to certain conditions being satisfied. Investors should recognize that closing is not guaranteed until these conditions are met and final documentation and regulatory or other required approvals are completed.

What assets are included in Hecla Mining’s transaction with Orezone Gold Corporation?

The transaction includes Hecla Quebec Inc., which owns the Casa Berardi operation, along with a portfolio of exploration properties, all located in Quebec, Canada. These assets together form the package being sold to Orezone Gold Corporation under the definitive agreement.

Did Hecla Mining issue any additional communication about the Orezone transaction?

Hecla Mining issued a news release on January 26, 2026 describing the transaction with Orezone. That news release is attached as Exhibit 99.1, and the definitive agreement itself is attached as Exhibit 10.1 and incorporated by reference for more detailed terms.

What conditions apply to the closing of Hecla Mining’s Casa Berardi sale?

Closing of the sale in the first quarter of 2026 is subject to certain conditions being satisfied, as outlined in the definitive agreement. These conditions may include customary closing requirements, and their fulfillment will determine whether and when the transaction is completed.