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    Kevin O'Halloran • BMO Capital Markets

    Kevin O'Halloran's questions to Hecla Mining Co (HL) leadership

    Kevin O'Halloran's questions to Hecla Mining Co (HL) leadership • Q2 2025

    Question

    Kevin O’Halloran of BMO Capital Markets asked for more granularity on the Keno Hill ramp-up trajectory, specifically whether it would be gradual or lumpy. He also inquired about the company's current strategic thinking on advancing its Montana assets.

    Answer

    President & CEO Rob Krcmarov confirmed the Keno Hill ramp-up will be gradual, targeting around 330 tonnes per day in 2027 before reaching 440 tpd. Regarding the Montana assets, he stated the immediate focus is on the Casa Berardi review. SVP & General Counsel David Sienko added that they expect permit approval for Montana around October, which would allow exploration to begin. Mr. Krcmarov concluded that Montana is a non-core copper asset and the company would be receptive to a partnership.

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    Kevin O'Halloran's questions to Hecla Mining Co (HL) leadership • Q4 2024

    Question

    Kevin O'Halloran questioned the expected timing for receiving permits at Keno Hill and the subsequent timeline for infrastructure construction. He also asked for the proportion of fixed versus variable costs at Keno and the specific capital allocation for the cooling project at Lucky Friday.

    Answer

    CEO Robert Krcmarov noted positive momentum on Keno Hill permitting but acknowledged it remains a risk. CFO Russell Lawlar outlined a two-year timeline for Phase 1 (440 tpd) infrastructure, with another two years for Phase 2 (600 tpd). An executive clarified Keno's costs are primarily fixed. Krcmarov specified the Lucky Friday cooling project capital is about $13 million for the next year, with mine development near $20 million.

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    Kevin O'Halloran's questions to Silvercorp Metals Inc (SVM) leadership

    Kevin O'Halloran's questions to Silvercorp Metals Inc (SVM) leadership • Q1 2025

    Question

    Kevin O'Halloran from BMO Capital Markets asked if the Ying mine optimizations, such as XRT sorters and equipment upgrades, would be included in the updated life of mine plan and how they were tracking. He also requested an update on the development and production timeline for the Kuanping Project.

    Answer

    Lon Shaver, an executive, confirmed that all optimizations will be factored into the upcoming technical report's economics and life of mine plan, adding that progress is tracking well and has even uncovered new mineralized zones. For the Kuanping Project, he stated the plan is to break ground and begin mine construction by the end of the current fiscal year, using a 'bootstrapping' approach to reach early ore production, while advising to manage expectations for initial tonnage.

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