Mining results roundup: Hecla, Ascendant, GoGold, Avino, Santacruz

Hecla Mining posted a Q1 loss of US$25.5mn, compared to earnings of US$8.24mn in the same quarter last year.

Revenue increased to US$153mn from US$140mn, while all-in sustaining costs (AISCs) rose 65% to US$9.34/oz silver, after byproduct credits.

The San Sebastián mine in Mexico produced 441,079oz silver and 3,530oz gold in Q1, down from 512,192oz and 4,513oz, respectively, in the same period last year.

AISCs at the mine increased to US$16.55/oz silver from US$8.37/oz, due to lower metals prices and higher capital spending, partly offset by lower exploration costs.

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Ascendant Resources, which has the El Mochito mine in Honduras, recorded a US$2.41mn net loss for Q1, compared to net income of US$5.29mn in the same period of 2018.

Revenue fell to US$17.8m from US$28.0mn due to weaker metals prices and lower zinc and lead volumes sold, as a result of the timing of sales, partly offset by higher silver volumes sold.

AISCs were US$1.22/lb zinc equivalent, down from US$1.26/lb.

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GoGold Resources reported earnings of US$2.44mn for Q1, compared to a US$41,000 loss in the same period last year.

Revenue rose to US$7.03mn from US$5.40mn, with production costs at US$4.81mn, up from US$3.61mn.

Production at the Parral mine in Mexico, the company's sole operation, was 424,210oz silver equivalent, up from 417,191oz, with 475,921oz silver equivalent sold.

Adjusted AISCs were US$13.61/oz silver equivalent, down from US$15.97/oz.

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Avino Silver & Gold Mines, which has the Avino and San Gonzalo operations in Mexico, slipped to a US$610,000 net loss in Q1, compared to a profit of US$818,000 in the same quarter last year.

Revenue fell 18% to US$6.71mn on 8% lower silver equivalent sales (522,626oz), coupled with weaker metals prices.

AISCs increased to US$13.81/oz silver equivalent from US$11.74/oz due to lower grades and volumes of metals sold.

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Mexico-focused Santacruz Silver posted a US$4.65mn loss for 2018, compared to a loss of US$22.9mn the previous year.

Revenue from mining operations was US$5.13mn, down from US$7.82mn, with mining services revenue at US$8.02mn, up from US$3.58mn.

Silver equivalent production was 815,313oz, down from 865,459oz, with AISCs at US$37.23/oz, up from US$27.56/oz.