Form 4

4 1 oct_form4-hecla.htm MISC\OCT_FORM4-HECLA Form 4

-------
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
------- Washington, D.C. 20549 --------------------------
[ ]Check this box if no longer subject to OMB Number: 3235-0287
Section 16. Form 4 or Form 5 Expires: January 31, 2005
obligations may continue. See STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Estimated average burden
Instruction 1(b). hours per response.... 0.5

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 30(h) of the Investment Company Act of 1940
(Print or Type Responses)
1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
Hecla Mining Company to Issuer (Check all applicable)
Langley Partners, L.P. NYSE Symbol: HL
__________________________________________ _____________________________________________ ___ Director _X_ 10% Owner
___ Officer (give ___ Other (Specify
(Last) (First) (Middle) 3. IRS Identification 4. Statement for title below) below)
Number of Reporting Month/Day/Year Executive Vice President and
535 Madison Avenue, 7th Floor Person, if an entity 10/11/02 Chief Corporate Officer
__________________________________________ (voluntary) ______________________________________________________________
(Street)
5. If Amendment, Date 7. Individual or Joint/Group Filing
New York, New York 10022 of Original (Month/ (Check Applicable Line)
__________________________________________ Day/Year) ___ Form filed by One Reporting Person
(City) (State) (Zip) _X_ Form filed by More than One
Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

2A. 5. Amount of
Deemed 3. Trans- 4. Securities Acquired (A) Securities
2. Trans- Exe- action or Disposed of (D) Beneficially 6. Ownership
action cution Code (Instr. 3, 4 and 5) Owned Form:
Date Date (Instr. ------------------------ Following Direct(D) 7. Nature of
(Month/ if any 8) (A) Reported or Indirect
1. Title of Security Day/ (Month/ ---------- Amount or Price Trans- Indirect Beneficial
(Instr.3) Year) Day/Year) Code V (D) actions(s) (I) Ownership
----------------------------- --------- --------- ---------- -------- --- -------- --------------- ------------ -------------

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If this form is filed by more than one reporting person, see Instruction 4(b)(v). SEC 1474 (9-02)

Potential persons who respond to the collection of information contained
in this form are not required to respond unless the form displays
a currently valid OMB Number

FORM 4 (continued) Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
6. Date
Exercisable
and
2. Conver- 3A. Deemed 5. Number of Deriv- Expiration
sion or 3. Trans- Execution 4. Trans- ative Securities Date (Month/
Exercise action Date, if action Acquired (A) or Day/Year)
Price of Date any Code Disposed of (D) ---------------
Deriv- (Month/ (Month/ (Instr. 8) (Instr. 3, 4, and 5) Date Expir-
1. Title of Derivative Security ative Day/ Day/ ----- ---- - ------------------ Exercis- ation
(Instr. 3) Security Year) Year) Code V A D able Date
-------------------------------- ----------- ---------- ------------- ------------ ----------- ----------- -------- ------

Series B 7% Preferred Stock, $15.55 10/11/02 X(1) (A) Immedialy None
par value $0.25 per share
9. Number of
Derivative 10. Ownership
Securities of Deriv-
Beneficially ative
7. Title and Amount of Underlying Owned Security:
Securities (Instr. 3 and 4) Following Direct 11. Nature of
--------------------------------- 8. Price of Reported (D) or Indirect
Amount or Derivative Trans- Indirect Beneficial
1. Title of Derivative Title Number of Security action(s) (I) Ownership
Security (Instr. 3) Shares (Instr. 5) (Instr. 4) (Instr. 4) (Instr. 4)
---------------------- -------------------- --------- ------------- ------------- -------------- --------------

Series B 7% Preferred (2) (3) $15.55 141,300 D(4)
Stock, par value $0.25
per share

Explanation of Responses

(1) Langley Partners, L.P. has acquired 124,500 shares of Series B 7% Preferred Stock,
par value $0.25 per share, of Hecla Mining Company (the "Preferred Stock") through the exercise
of its call option with Lehman Brothers Inc., which was comprised of long and short positions on a
basket of securities of a number of companies including the 124,500 shares of Preferred Stock. The
exercise price of the option on the basket of securities was $307,390. There was no currently determinable
exercise price for the 124,500 shares of Preferred Stock, as it could not have been purchased separately
from the basket.

(2) The title of the underlying securities is Common Stock, par value $0.25 per share, of Hecla Mining
Company (the "Common Stock"). Each share of Preferred Stock is convertible into approximately 3.2154
shares of Common Stock.

(3) The Preferred Stock is convertible into 400,317.30 shares of Common Stock.

(4) Langley Partners, L.P. is the record holder of 141,300 shares of Preferred Stock. Each of Langley
Management, LLC, Langley Capital, LLC and Jeffrey Thorp, all of whom may be deemed to be the beneficial
owner of the 141,300 shares of Preferred Stock held of record by Langley Partners, L.P., disclaim
beneficial ownership of the reported securities except to the extent of each of their respective
pecuniary interests therein, and this report shall not be deemed an admission that any such reporting
person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

/s/ Jeffrey Thorp 10/11/02
**Intentional misstatements or omissions of facts constitute ------------------------------- ----------
Federal Criminal Violations. See 18 U.S.C. 1001 and **Signature of Reporting Person Date
15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. Jeffrey Throp, in his capacity as
If space provided is insufficient, see Instruction 6 for procedure. managing member of each of Langley
Management, LLC and Langley Capital,
LLC, the general partners of Langley
Partners, L.P.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number

Joint Filer Information
-----------------------

1. Name: Langley Management, LLC

2. Address: 535 Madison Avenue, 7th Floor
New York, NY 10022

3. Designated Filer: Langley Partners, L.P.

4.Issuer & Ticker Symbol: Hecla Mining Company
NYSE Symbol: HL

5.Date of Event Requiring Statement: October 11, 2002

/s/ Jeffrey Thorp 10/11/02
-------------------------------- --------
Jeffrey Thorp, in his capacity as Date
managing member of Langley
Management, LLC

Joint Filer Information
-----------------------

1. Name: Langley Capital, LLC

2. Address: 535 Madison Avenue, 7th Floor
New York, NY 10022

3. Designated Filer: Langley Partners, L.P.

4. Issuer & Ticker Symbol: Hecla Mining Company
NYSE Symbol: HL

5. Date of Event Requiring Statement: October 11, 2002

/s/ Jeffrey Thorp 10/11/02
-------------------------------------- --------
Jeffrey Thorp, in his capacity as Date
managing member of Langley
Capital, LLC

Joint Filer Information
-----------------------

1. Name: Jeffrey Thorp

2. Address: 535 Madison Avenue, 7th Floor
New York, NY 10022

3. Designated Filer: Langley Partners, L.P.

4. Issuer & Ticker Symbol: Hecla Mining Company
NYSE Symbol: HL

5. Date of Event Requiring Statement: October 11, 2002

/s/ Jeffrey Thorp 10/11/02
------------------------------------ --------
Jeffrey Thorp Date
managing member of Langley
Capital, LLC