SOURCE: Paragon Financial Limited

Paragon Financial Limited

November 11, 2011 08:16 ET

Hecla Mining Boosts Appeal to Shareholders -- First Majestic Maintains Status Quo

The Paragon Report Provides Equity Research on Hecla Mining & First Majestic Silver

NEW YORK, NY--(Marketwire - Nov 11, 2011) - Silver prices have fluctuated along with the markets recently but are still high as investors continue to seek safe havens in precious metals. While gold may be grabbing most of the headlines, silver has been on a good run with both streaming and mining stocks performing well. The Paragon Report examines investing opportunities in the Silver Industry and provides equity research on Hecla Mining Co. (NYSE: HL) and First Majestic Silver Corporation (NYSE: AG) (TSX: FR). Access to the full company reports can be found at:

Silver production has been on a steep upswing in recent years aided by new projects in Mexico and Argentina. According to the Silver Institute, production gains have come from primary silver mines and as a by-product of lead/zinc mining activity, whereas silver volumes produced as a by-product of gold fell 4 percent last year. Mexico eclipsed Peru as the world's largest silver producing country in 2010, and Peru is followed by China, Australia and Chile. Global primary silver supply recorded a 5 percent increase to account for 30 percent of total mine production in 2010.

The Paragon Report provide investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the silver industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Hecla Mining says that realized metals prices continued to increase significantly in 2011 compared to 2010. Realized silver prices in the third quarter of 2011 exceeded those of the same period last year by 73%, while for the first nine months of the year, realized prices were 89% higher than in the same period in 2010. Despite lower overall precious and base metals production, Hecla CEO Phil Baker said the third quarter "was a unique one in Hecla's long history, with record quarterly income." 2.3 million ounces of silver production at an average cost of 67-cents per ounce, silver prices that averaged $37 per ounce, along with a dividend policy tied to pay out to the silver price.

First Majestic Silver Corp said third-quarter profit jumped nearly threefold on strong silver prices, but the Canadian company cut its production forecast for the full year. Silver equivalent ounces produced fell 7 percent to nearly 1.79 million ounces. Total cash costs were $8.39 per ounce, up 19 percent.

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