Add-on Acquisition • Metals/Mining

Hecla Mining Acquires Klondex Mines

On March 19, 2018, Hecla Mining acquired metals/mining company Klondex Mines for 462M USD

Acquisition Context
  • This is Hecla Mining’s 6th transaction in the Metals/Mining sector.
  • This is Hecla Mining’s 2nd largest (disclosed) transaction.
  • This is Hecla Mining’s 5th transaction in the United States.
  • This is Hecla Mining’s 1st transaction in Nevada.

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M&A Deal Summary

Date March 19, 2018
Target Klondex Mines
Sector Metals/Mining
Buyer(s) Hecla Mining
Deal Type Add-on Acquisition
Deal Value 462M USD
Advisor(s) GMP Securities
INFOR Financial (Financial)
Bennett Jones
Dorsey & Whitney (Legal)

Target Company

Klondex Mines

Reno, Nevada, United States
Klondex Mines Ltd. is a junior-tier gold and silver mining company focused on exploration, development, and production in a safe, environmentally responsible, and cost-effective manner. Klondex has 100% interests in three producing mineral properties: the Fire Creek Mine, the Midas Mine and ore milling facility, and the Hollister Mine, all of which are located in the state of Nevada, USA. Klondex also has a 100% interest in the True North Mine and mill in Manitoba, Canada and the Aurora Mine and ore milling facility, located in Nevada, USA.
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Buyer Overview 1

Buyer

Hecla Mining

Coeur d'Alene, Idaho, United States

Category Company
Founded 1891
Sector Metals/Mining
Employees1,830
Revenue 930M USD (2024)
DESCRIPTION

Hecla Mining is a silver producer with operating mines in Alaska and Idaho and is a growing gold producer with an operating mine in Quebec, Canada. Hecla also has exploration and pre-development properties in five world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada. Hecla Mining was founded in 1891 and is based in Coeur d'Alene, Idaho.


Deal Context for Buyer #
Overall 6 of 7
Sector: Metals/Mining 6 of 7
Type: Add-on Acquisition 4 of 5
State: Nevada 1 of 1
Country: United States 5 of 5
Year: 2018 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-24 Mines Management

Spokane, Washington, United States

Mines Management, Inc. is a mineral company focused on the acquisition and exploration of silver dominant mineral deposits.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-05 Alexco

Vancouver, British Columbia, Canada

Alexco is an owner and operator of the Keno Hill Silver District in Canada’s Yukon Territory, one of the highest-grade silver deposits. Alexco was founded in 2004 and is based in Vancouver, British Columbia.

Buy -