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Note 2 - Business Segments and Sales of Products (Tables) | 6 Months Ended
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Jun. 30, 2025
Table Text Block [Abstract] |
Schedule of Information About Reportable Segments | The tables below present information about our reportable segments for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three months ended June 30, 2025 | Greens Creek |  | Lucky Friday |  | Keno Hill |  | Casa Berardi |  | Other |  | Total |
Metal sales | $ | 122,002 |  | $ | 64,273 |  | $ | 26,121 |  | $ | 85,035 |  | $ | — |  | $ | 297,431 |
Environmental remediation services |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,596 |  |  | 6,596 |
Intersegment sales |  | — |  |  | — |  |  | 1,201 |  |  | — |  |  | — |  |  | 1,201 |
Reconciliation of sales |  | 122,002 |  |  | 64,273 |  |  | 27,322 |  |  | 85,035 |  |  | 6,596 |  |  | 305,228 |
Elimination of intersegment sales |  | — |  |  | — |  |  | (1,201 | ) |  | — |  |  | — |  |  | (1,201 | )
Total consolidated sales |  |  |  |  |  |  |  |  |  |  |  | 304,027 |
Cost of sales and other direct production costs |  |  |  |  |  |  |  |  |  |  |  |
Salaries, wages and other benefits |  | 18,281 |  |  | 14,559 |  |  | 7,209 |  |  | 12,164 |  |  | 138 |  |  | 52,351 |
Contractors |  | 1,557 |  |  | 3,828 |  |  | 3,886 |  |  | 11,449 |  |  | 6,419 |  |  | 27,139 |
Materials and consumables |  | 25,400 |  |  | 10,899 |  |  | 8,050 |  |  | 14,730 |  |  | 68 |  |  | 59,147 |
Product inventory change |  | (9,234 | ) |  | (476 | ) |  | 1,968 |  |  | 65 |  |  | — |  |  | (7,677 | )
Other direct production costs |  | 10,020 |  |  | 201 |  |  | (373 | ) |  | 6,536 |  |  | — |  |  | 16,384 |
Depreciation, depletion and amortization |  | 12,897 |  |  | 13,275 |  |  | 5,141 |  |  | 5,846 |  |  | — |  |  | 37,159 |
Gross profit (loss) | $ | 63,081 |  | $ | 21,987 |  | $ | 240 |  | $ | 34,245 |  | $ | (29 | ) | $ | 119,524 |
Other operating expenses (a) |  |  |  |  |  |  |  |  |  |  |  | 25,768 |
Income from operations |  |  |  |  |  |  |  |  |  |  |  | 93,756 |
Other Expense: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (11,099 | )
Fair value adjustments, net |  |  |  |  |  |  |  |  |  |  |  | 9,615 |
Foreign exchange loss, net |  |  |  |  |  |  |  |  |  |  |  | (3,517 | )
Other income |  |  |  |  |  |  |  |  |  |  |  | 1,511 |
Income before income and mining taxes |  |  |  |  |  |  |  |  |  |  | $ | 90,266 |
Capital additions | $ | 8,397 |  | $ | 15,942 |  | $ | 17,045 |  | $ | 15,367 |  | $ | 1,292 |  | $ | 58,043 |
(a) Other operating expense items include general and administrative, exploration and pre-development, ramp-up and suspension costs, provision for closed operations and environmental matters, and other operating (income) expense, net.
Three months ended June 30, 2024 | Greens Creek |  | Lucky Friday |  | Keno Hill |  | Casa Berardi |  | Other |  | Total |
Metal sales | $ | 95,659 |  | $ | 59,071 |  | $ | 28,951 |  | $ | 58,622 |  | $ | — |  | $ | 242,303 |
Environmental remediation services |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,354 |  |  | 3,354 |
Intersegment sales |  | — |  |  | — |  |  | 1,140 |  |  | — |  |  | — |  |  | 1,140 |
Reconciliation of sales |  | 95,659 |  |  | 59,071 |  |  | 30,091 |  |  | 58,622 |  |  | 3,354 |  |  | 246,797 |
Elimination of intersegment sales |  | — |  |  | — |  |  | (1,140 | ) |  | — |  |  | — |  |  | (1,140 | )
Total consolidated sales |  |  |  |  |  |  |  |  |  |  |  | 245,657 |
Cost of sales and other direct production costs |  |  |  |  |  |  |  |  |  |  |  |
Salaries, wages and employee benefits |  | 17,675 |  |  | 13,155 |  |  | 7,831 |  |  | 12,607 |  |  | 43 |  |  | 51,311 |
Contractors |  | 1,782 |  |  | 3,156 |  |  | 5,971 |  |  | 6,827 |  |  | 3,173 |  |  | 20,909 |
Materials and consumables |  | 20,465 |  |  | 8,735 |  |  | 7,239 |  |  | 14,900 |  |  | 339 |  |  | 51,678 |
Product inventory change |  | (2,904 | ) |  | 219 |  |  | 1,107 |  |  | 550 |  |  | — |  |  | (1,028 | )
Other direct production costs |  | 8,453 |  |  | 1,552 |  |  | 3,836 |  |  | 5,445 |  |  | 71 |  |  | 19,357 |
Transfer to ramp-up and suspension costs(a) |  | — |  |  | - |  |  | (1,763 | ) |  | — |  |  | — |  |  | (1,763 | )
Depreciation, depletion and amortization |  | 11,316 |  |  | 10,707 |  |  | 4,730 |  |  | 27,010 |  |  | — |  |  | 53,763 |
Gross profit (loss) | $ | 38,872 |  | $ | 21,547 |  | $ | — |  | $ | (8,717 | ) | $ | (272 | ) | $ | 51,430 |
Other operating expenses (b) |  |  |  |  |  |  |  |  |  |  |  | 10,830 |
Income from operations |  |  |  |  |  |  |  |  |  |  |  | 40,600 |
Other Expense: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (12,505 | )
Fair value adjustments, net |  |  |  |  |  |  |  |  |  |  |  | 5,002 |
Foreign exchange gain, net |  |  |  |  |  |  |  |  |  |  |  | 2,673 |
Other income |  |  |  |  |  |  |  |  |  |  |  | 1,180 |
Income before income and mining taxes |  |  |  |  |  |  |  |  |  |  | $ | 36,950 |
Capital additions | $ | 11,704 |  | $ | 10,818 |  | $ | 14,533 |  | $ | 12,376 |  | $ | 989 |  | $ | 50,420 |
(a) Total cost of sales in excess of sales value are transferred to ramp-up and suspension costs. (b) Other operating expense items include general and administrative, exploration and pre-development, ramp-up and suspension costs, provision for closed operations and environmental matters, and other operating (income) expense, net.
Six months ended June 30, 2025 | Greens Creek |  | Lucky Friday |  | Keno Hill |  | Casa Berardi |  | Other |  | Total |
Metal sales | $ | 240,145 |  | $ | 127,467 |  | $ | 43,030 |  | $ | 141,040 |  | $ | — |  | $ | 551,682 |
Environmental remediation services |  | — |  |  | — |  |  | — |  |  | — |  |  | 13,684 |  |  | 13,684 |
Intersegment sales |  | — |  |  | — |  |  | 2,187 |  |  | — |  |  | — |  |  | 2,187 |
Reconciliation of sales |  | 240,145 |  |  | 127,467 |  |  | 45,217 |  |  | 141,040 |  |  | 13,684 |  |  | 567,553 |
Elimination of intersegment sales |  | — |  |  | — |  |  | (2,187 | ) |  | — |  |  | — |  |  | (2,187 | )
Total consolidated sales |  |  |  |  |  |  |  |  |  |  |  | 565,366 |
Cost of sales and other direct production costs |  |  |  |  |  |  |  |  |  |  |  |
Salaries, wages and other benefits |  | 36,534 |  |  | 29,335 |  |  | 13,681 |  |  | 25,354 |  |  | 196 |  |  | 105,100 |
Contractors |  | 2,462 |  |  | 7,691 |  |  | 7,437 |  |  | 22,114 |  |  | 13,350 |  |  | 53,054 |
Materials and consumables |  | 51,065 |  |  | 22,322 |  |  | 14,044 |  |  | 29,301 |  |  | 174 |  |  | 116,906 |
Product inventory change |  | (8,333 | ) |  | 706 |  |  | (5,994 | ) |  | (3,196 | ) |  | — |  |  | (16,817 | )
Other direct production costs |  | 20,345 |  |  | (419 | ) |  | 4,641 |  |  | 13,484 |  |  | — |  |  | 38,051 |
Depreciation, depletion and amortization |  | 26,486 |  |  | 26,700 |  |  | 7,943 |  |  | 14,415 |  |  | — |  |  | 75,544 |
Gross profit (loss) | $ | 111,586 |  | $ | 41,132 |  | $ | 1,278 |  | $ | 39,568 |  | $ | (36 | ) | $ | 193,528 |
Other operating expenses (a) |  |  |  |  |  |  |  |  |  |  |  | 47,417 |
Income from operations |  |  |  |  |  |  |  |  |  |  |  | 146,111 |
Other Expense: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (22,650 | )
Fair value adjustments, net |  |  |  |  |  |  |  |  |  |  |  | 13,242 |
Foreign exchange loss, net |  |  |  |  |  |  |  |  |  |  |  | (3,873 | )
Other income |  |  |  |  |  |  |  |  |  |  |  | 2,453 |
Income before income and mining taxes |  |  |  |  |  |  |  |  |  |  | $ | 135,283 |
Capital additions | $ | 19,156 |  | $ | 31,388 |  | $ | 27,481 |  | $ | 31,624 |  | $ | 2,489 |  | $ | 112,138 |
(a) Other operating expense items include general and administrative, exploration and pre-development, provision for closed operations and environmental matters, ramp-up and suspension costs and other operating (income) expense, net.
Six months ended June 30, 2024 | Greens Creek |  | Lucky Friday |  | Keno Hill |  | Casa Berardi |  | Other |  | Total |
Metal sales | $ | 192,969 |  | $ | 94,411 |  | $ | 39,797 |  | $ | 100,207 |  | $ | — |  | $ | 427,384 |
Environmental remediation services |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,801 |  |  | 7,801 |
Intersegment sales |  | — |  |  | — |  |  | 1,461 |  |  | — |  |  | — |  |  | 1,461 |
Reconciliation of sales |  | 192,969 |  |  | 94,411 |  |  | 41,258 |  |  | 100,207 |  |  | 7,801 |  |  | 436,646 |
Elimination of intersegment sales |  | — |  |  | — |  |  | (1,461 | ) |  | — |  |  | — |  |  | (1,461 | )
Total consolidated sales |  |  |  |  |  |  |  |  |  |  |  | 435,185 |
Cost of sales and other direct production costs |  |  |  |  |  |  |  |  |  |  |  |
Salaries, wages and employee benefits |  | 34,982 |  |  | 24,737 |  |  | 14,567 |  |  | 25,351 |  |  | 110 |  |  | 99,747 |
Contractors |  | 3,431 |  |  | 5,959 |  |  | 10,709 |  |  | 12,050 |  |  | 6,762 |  |  | 38,911 |
Materials and consumables |  | 46,918 |  |  | 18,903 |  |  | 14,825 |  |  | 27,727 |  |  | 524 |  |  | 108,897 |
Product inventory change |  | (5,100 | ) |  | (1,882 | ) |  | (4,653 | ) |  | (1,189 | ) |  | — |  |  | (12,824 | )
Other direct production costs |  | 20,654 |  |  | 907 |  |  | 6,452 |  |  | 11,700 |  |  | 115 |  |  | 39,828 |
Transfer to ramp-up and suspension costs(a) |  | — |  |  | (2,200 | ) |  | (10,434 | ) |  | — |  |  | — |  |  | (12,634 | )
Depreciation, depletion and amortization |  | 25,759 |  |  | 18,619 |  |  | 8,331 |  |  | 49,961 |  |  | — |  |  | 102,670 |
Gross profit (loss) | $ | 66,325 |  | $ | 29,368 |  | $ | — |  | $ | (25,393 | ) | $ | 290 |  | $ | 70,590 |
Other operating expenses (b) |  |  |  |  |  |  |  |  |  |  |  | 24,926 |
Income from operations |  |  |  |  |  |  |  |  |  |  |  | 45,664 |
Other Expense: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (25,149 | )
Fair value adjustments, net |  |  |  |  |  |  |  |  |  |  |  | 3,150 |
Foreign exchange gain, net |  |  |  |  |  |  |  |  |  |  |  | 6,655 |
Other income |  |  |  |  |  |  |  |  |  |  |  | 2,692 |
Income before income and mining taxes |  |  |  |  |  |  |  |  |  |  | $ | 33,012 |
Capital additions | $ | 20,531 |  | $ | 25,806 |  | $ | 24,879 |  | $ | 25,692 |  | $ | 1,101 |  | $ | 98,009 |
(a) Total cost of sales in excess of sales value are transferred to ramp-up and suspension costs. (b) Other operating expense items include general and administrative, exploration and pre-development, ramp-up and suspension costs, provision for closed operations and environmental matters, and other operating (income) expense, net. The following table presents total assets by reportable segment as of June 30, 2025 and December 31, 2024 (in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
Total assets: |  |  |  |  |  |
Greens Creek |  | $ | 567,581 |  |  | $ | 564,334 |
Lucky Friday |  |  | 619,273 |  |  |  | 587,945 |
Keno Hill |  |  | 426,580 |  |  |  | 413,982 |
Casa Berardi |  |  | 701,178 |  |  |  | 687,080 |
Other |  |  | 994,743 |  |  |  | 727,719 |
|  | $ | 3,309,355 |  |  | $ | 2,981,060 |
Schedule of Sales of Products by Metal | Sales by metal f or the three and six months ended June 30, 2025 and 2024 were as follows (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Silver |  | $ | 122,661 |  |  | $ | 112,692 |  |  | $ | 240,814 |  |  | $ | 198,925 |
Gold |  |  | 123,721 |  |  |  | 82,469 |  |  |  | 210,909 |  |  |  | 149,884 |
Lead |  |  | 21,476 |  |  |  | 23,928 |  |  |  | 43,582 |  |  |  | 43,411 |
Zinc |  |  | 31,138 |  |  |  | 32,496 |  |  |  | 64,263 |  |  |  | 57,460 |
Copper |  |  | 979 |  |  |  | — |  |  |  | 1,370 |  |  |  | — |
Less: Smelter and refining charges |  |  | (2,544 | ) |  |  | (9,282 | ) |  |  | (9,256 | ) |  |  | (22,296 | )
Total metal sales |  |  | 297,431 |  |  |  | 242,303 |  |  |  | 551,682 |  |  |  | 427,384 |
Environmental remediation services |  |  | 6,596 |  |  |  | 3,354 |  |  |  | 13,684 |  |  |  | 7,801 |
Total sales |  | $ | 304,027 |  |  | $ | 245,657 |  |  | $ | 565,366 |  |  | $ | 435,185 |

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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