EXHIBIT 12.1

Hecla Mining Company

Fixed Charge and Preferred Dividend Coverage Ratio Calculation

For the Years Ended December 31, 2006, 2005, 2004, 2003, 2002,

And Six Months Ended June 30, 2007

	6 Months June 30, 2007		2006		2005			2004			2003			2002
Net income (loss) before income taxes and cumulative effect of change in accounting principle	$	31,326	$	61,821		($24,700	)		($3,343	)		($5,871	)	$	7,945
Fixed charges:
Interest portion of rentals		178		610		437			195			231			179
Total interest costs		443		608		225			500			1,407			1,816
Total fixed charges		621		1,218		662			695			1,638			1,995
Total earnings	$	31,947	$	63,039		($24,038	)		($2,648	)		($4,233	)	$	9,940
Preferred stock dividend requirements	$	276	$	552	$	552		$	11,602		$	12,154		$	23,253
Ratio of pre-tax income to net income		0.96		0.89		1.03			1.83			1.21			0.73
Preferred stock dividend factor	$	276	$	552	$	567		$	21,288		$	14,673		$	23,253
Ratio of earnings to fixed charges		51.4		51.8		(na)			(na)			(na)			5.0
Ratio of earnings to fixed charges and preferred dividends		35.6		35.6		(na)			(na)			(na)			(na)
Coverage deficit:
On fixed charges	$	0	$	0	$	24,700		$	3,343		$	5,871		$	0
On fixed charges and preferred dividends		0		0		25,267			24,631			20,544			15,308