Dallas, Texas 07/12/2013 (Financialstrend) – Hecla Mining Company (NYSE:HL) has recently announced the results related to the company’s acquisition of all of the outstanding shares of Aurizon Mines, Ltd. owned by Typhoon Exploration Inc. The company has acquired common shares of Typhoon Exploration Inc. for an aggregate value of $500,000 Canadian Dollars through an option agreement that was signed between Aurizon and Typhoon on May 17, 2010. The TSX Venture Exchange has also conditionally approved the acquisition transaction, through which Hecla recently acquired a total of 5,555,556 common shares of Typhoon for a price of CDN$0.09 per common share; this transaction took place through Aurizon Mines Ltd. This acquisition is the final transaction of the four CDN$500,000 tranches spread out by the company. In addition, with another CDN$800,000 of in-ground expenditures by June 2014, Aurizon will have invested a total of CDN$10 million, since the option agreement for the company stipulates a required 50% interest in the Fayolle Property and the Aiguebelle-Goldfields Property. Upon completion of this investment, Hecla will be under the Subsection 2.10 of the Canadian National Instrument 45-106- Registration and Prospectus Exemptions as an accredited investor.
Hecla Mining Company (NYSE:HL) closed at $2.94 on Thursday, recording an advance of 6.83% in its share price for the day. The stock price fluctuated from a low value of $2.90 to a high one of $2.98 per share. The company currently has a 52-week low of $2.65 and a 52-week high of $6.94 per share. HL currently has 285.16 million outstanding shares in the market with institutional ownership of 55% of its total equity capital. Trading volume stood at 6.34 million shares on Thursday, with an average one for HL at 8.90 million shares per day.
