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Hecla Mining Stock (NYSE: HL) Caves In; Crumbles

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Hecla Mining (NYSE: HL) is one of the oldest stocks trading in the stock market today and the largest silver producer in the U.S. Hecla produces silver from Lucky Friday mine in Idaho and Greens Creek mine in Alaska.

Yesterday, the Mine Safety and Health Administration (“MSHA”) ordered the Lucky Friday mine closed for removal of built-up material in the shaft. The Lucky Friday mine is accessed mainly by this one-mile deep shaft from the surface.

Compliance with the order is expected to take through the end of 2012 which makes the Lucky Friday mine an unlucky scenario for HL stock price. Hecla’s 2012 silver production has been significantly reduced and is now estimated to be approximately 7 million ounces, 2.5 million ounces less than the previous estimate of 9.5 million ounces.

The stock of Hecla was crushed yesterday on this news ending the day down 21% at $4.61 after trading as low as $4.25.

Click here to find out more about Hecla Mining and the Top publicly traded Gold Stocks, many of which are in Republican GOP candidate Ron Paul’s investment portfolio .

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