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Stock impact report

Markets reset bets on silver, gold [Yahoo! Finance]

Hecla Mining Company (HL) 
Last hecla mining company earnings: 2/6 03:30 am Check Earnings Report
US:NYSE Investor Relations: ir.hecla-mining.com
Company Research Source: Yahoo! Finance
I was a young newspaper reporter at the time, working on a story about silver mining in northern Idaho. Most people I talked to said $50 wouldn't last because the market had been pushed higher by the Hunt Brothers' attempt to corner the silver market. But the number I kept hearing at the time was silver might fall back into the $20-to-$30 range, which would still be profitable for mining companies. Silver, however, fell to $11 by March 1980 because global banks and even the Federal Reserve had to step in. The Hunts, it turned out, couldn't service the billions they'd borrowed in their silver campaign. And that threatened major Wall Street brokerages and banks. Silver ultimately fell below $4 an ounce in 1993 before finally starting to recover. But many of the miners I met 4,000 feet deep in Hecla Mining's Lucky Friday mine in Mullan, Idaho, or in nearby bars and diners planning to buy a new pickup or a Hawaii vacation had already been ruined. But silver has finally roared bac Show less Read more
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