{"id":5984,"date":"2026-01-28T13:40:48","date_gmt":"2026-01-28T13:40:48","guid":{"rendered":"https:\/\/thetradingdictionary.com\/index.php\/2026\/01\/28\/hecla-mining-to-sell-casa-berardi-gold-mine-to-orezone-for-up-to-us593-million\/"},"modified":"2026-01-28T13:40:48","modified_gmt":"2026-01-28T13:40:48","slug":"hecla-mining-to-sell-casa-berardi-gold-mine-to-orezone-for-up-to-us593-million","status":"publish","type":"post","link":"https:\/\/thetradingdictionary.com\/index.php\/2026\/01\/28\/hecla-mining-to-sell-casa-berardi-gold-mine-to-orezone-for-up-to-us593-million\/","title":{"rendered":"Hecla Mining to Sell Casa Berardi Gold Mine to Orezone for Up to US$593 Million"},"content":{"rendered":"<\/p>\n

Hecla Mining Company (NYSE:HL) has agreed to sell its Casa Berardi gold operation in Qu\u00e9bec to Orezone Gold (TSX:ORE,OTCQX:ORZCF) for total consideration of up to US$593 million.<\/strong><\/p>\n

The deal, announced on Monday (January 26), involves the sale of Hecla Qu\u00e9bec, a wholly owned subsidiary of Hecla that holds the Casa Berardi mine and related exploration properties. <\/p>\n

Under the terms of the agreement, Hecla expects to receive up to US$593 million through a mix of upfront cash, equity, deferred payments and contingent consideration. <\/p>\n

Hecla will receive US$160 million in cash at closing, along with about 65.7 million Orezone common shares, representing about 9.9 percent of Orezone\u2019s pro forma shares outstanding, currently valued at roughly US$112 million.<\/p>\n<\/p>\n

In addition, Hecla is set to receive US$80 million in deferred cash payments, split into US$30 million payable 18 months after closing and US$50 million payable after 30 months.<\/p>\n

The remaining consideration is contingent and could total up to US$241 million. <\/p>\n

It includes up to US$211 million in production-based royalty payments tied to future open-pit output, calculated at US$80 per ounce for the first 500,000 ounces of gold and US$180 per ounce thereafter. <\/p>\n

Hecla may also receive a US$20 million payment upon the granting of certain permits, as well as up to US$10 million linked to a gold price exceeding US$4,200 per ounce. <\/p>\n

The transaction is supported by Franco-Nevada (TSX:FNV,NYSE:FNV), which Orezone said is a sponsor in the acquisition.<\/p>\n

\u201cThe sale of Hecla Quebec represents an important milestone in Hecla’s transformation as we concentrate capital allocation and operational focus on our world-class silver portfolio,\u201d said Rob Krcmarov, president and CEO of Hecla. <\/p>\n

For Orezone, the acquisition marks a major expansion into Canada and adds a producing gold mine to its portfolio. The company said Casa Berardi will complement its Bombor\u00e9 project in Burkina Faso and will provide diversification in a jurisdiction known for stable mining regulations and established infrastructure.<\/p>\n

\u201cThis Transaction marks a significant inflection point for Orezone as it adds a proven, cash-flow-generating asset to our portfolio, and provides asset diversification in a Tier 1 Jurisdiction,\u201d said Patrick Downey, president and CEO of Orezone. <\/p>\n

Casa Berardi is an underground and open-pit mine located in Qu\u00e9bec\u2019s Abitibi region that has been in operation since the late 1980s. It has produced over 3.2 million ounces of gold to date. <\/p>\n

As of the end of 2024, its proven and probable reserves stood at 1.3 million ounces, with additional measured, indicated and inferred resources supporting future operations.<\/p>\n

Casa Berardi’s gold production guidance for 2026 is between 83,000 and 91,000 ounces.<\/p>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Hecla Mining Company (NYSE:HL) has agreed to sell its Casa Berardi gold operation in Qu\u00e9bec to Orezone Gold (TSX:ORE,OTCQX:ORZCF) for total consideration of up to US$593 million. The deal, announced on Monday (January 26), involves the sale of Hecla Qu\u00e9bec, a wholly owned subsidiary of Hecla that holds the Casa Berardi mine and related exploration…<\/p>\n","protected":false},"author":1,"featured_media":5985,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/posts\/5984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/comments?post=5984"}],"version-history":[{"count":0,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/posts\/5984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/media\/5985"}],"wp:attachment":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/media?parent=5984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/categories?post=5984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/tags?post=5984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}