FORM 10-K DECEMBER 31, 2005

COMMISSION FILE NO. 1-8491

EXHIBIT 11

HECLA MINING COMPANY AND SUBSIDIARIES

CALCULATION OF WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING

For the Years Ended December 31, 2005, 2004 and 2003

	Year Ended December 31,
	2005		2004		2003
Shares of common stock issued at beginning of period		118,350,861		115,543,695		86,187,468
The incremental effect of the issuance of stock in exchange for preferred shares		—		2,211,352		288,930
The incremental effect of the issuance of new shares for cash, net of issuance costs		—		—		23,000,000
The incremental effect of the issuance of new shares under stock option plans		63,296		300,452		972,928
The incremental effect of the issuance of stock as compensation		52,183		401		168,884
		118,466,340		118,055,900		110,618,210
Less:
Weighted average treasury shares held		8,274		8,274		8,274
Weighted average number of common shares outstanding during the period		118,458,066		118,047,626		110,609,936