Exhibit 12

Hecla Mining Company

Fixed Charge and Preferred Dividend Coverage Ratio Calculation

For the years ended December 31, 2001, 2002, 2003, 2004 and 2005

(In thousands, except ratios)

	2001			2002			2003			2004			2005
Net income (loss) before income
taxes and cumulative effect of
change in accounting principle	$	(9,582	)	$	7,945		$	(5,871	)	$	(3,343	)	$	(24,700	)
Add: Fixed charges		11,980			25,248			13,792			12,297			1,214
Less: Capitalized interest		—			—			—			—			—
Adjusted income (loss) before
income taxes and cumulative
effect of change in accounting
principle	$	2,398		$	33,193		$	7,921		$	8,954		$	(23,486	)
Fixed charges:
Preferred stock dividends	$	8,050		$	23,253		$	12,154		$	11,602		$	552
Interest portion of rentals		43			179			231			195			437
Total interest costs		3,887			1,816			1,407			500			225
Total fixed charges	$	11,980		$	25,248		$	13,792		$	12,297		$	1,214
Fixed charge ratio		(na)			1.3	x		(na)			(na)			(na)
Inadequate coverage	$	9,582		$	—		$	5,871		$	3,343		$	24,700