HL — what changed in the latest 10-Q
A section-by-section comparison of HL's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-05 vs the prior 10-Q · 2025-11-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +90 | −99 | ~22 | 44 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~5 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Risk factors | Text added/removed | 0 | −4 | ~1 | 0 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-05
On March 25, 2026, we completed the sale of our Hecla Quebec Inc. ("Hecla Quebec") subsidiary which owns the Casa Berardi mine to Orezone Gold Corporation ("Orezone") for a fair value of $385.7 million ($601.7 million on an undiscounted basis) comprised of the following:
Accounts receivable related to working capital adjustments of $16.6 million of which $15.6 million was received during April and the remaining $1.0 million is expected to be received in May
65,757,265 Orezone common shares valued at $106.1 million on closing
Deferred cash consideration ("Deferred Cash Consideration") with a fair value of $57.1 million for the cash payments of $30 million and $50 million to be received 18 months and 30 months after closing, respectively
Contingent cash consideration ("Contingent Cash Consideration") with a fair value of $35.9 million for a total of up to $241 million of undiscounted payments consisting of:
Text removed vs the prior filing · source: 10-Q · 2025-11-05
Strong Production - We produced 4.6 million ounces of silver with increased silver production at all primary silver operations, compared to 3.6 million ounces of silver in the third quarter of 2024. We produced 40,654 ounces of gold, an increase over 32,280 ounces of gold produced in the third quart…
Lucky Friday Surface Cooling Project Advancement - Lucky Friday continued along a path of operational consistency, while completing key milestones of the surface cooling project (an important project to increase the cooling capacity required for the mine over the reserve mine-life). The entire proje…
Greens Creek Permitting - Clean Water Act Section 404 permit issued for dry stack tailings expansion project, with work to begin in the fourth quarter
Revenue Generation - Generated record sales of $409.5 million, a 67% increase over the third quarter of 2024.
Continuous Improvement - Keno Hill generated gross profit of $16.4 million, driven by higher realized prices and consistent production, the third consecutive quarter with gross profit which generated cash flow from operations of $22.1 million.
Risk factors
Text removed vs the prior filing · source: 10-Q · 2025-11-05
Mine closure and reclamation regulations impose substantial costs on our operations and include requirements that we provide financial assurance supporting those obligations. These costs could significantly increase and we might not be able to provide financial assurance.
We are required by U.S. federal and state laws and regulations and by laws and regulations in the foreign jurisdictions in which we operate to reclaim our mining properties, which typically includes filing of a closure plan with the applicable regulator. The specific requirements may change and vary…
In some cases, we are required to provide financial assurances as security for reclamation costs, which may exceed our estimates for such costs. Similarly, our reclamation costs may exceed the financial assurances in place and those assurances may ultimately be unavailable to us. We often satisfy fi…
The EPA and other state, provincial or federal agencies may also require financial assurance for investigation and remediation actions that are required under settlements of enforcement actions under CERCLA or equivalent state or foreign regulations. Currently there are no financial assurance requir…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice