Note 2 -Business Segments and Sales of Products

3 Months Ended

Mar. 31, 2023

Disclosure Text Block [Abstract]

Segment Reporting Disclosure [Text Block]

Note 2. Business Segments and Sales of Products

We discover, acquire and develop mines and other mineral interests and produce and market (i) concentrates, containing silver, gold, lead and zinc, (ii) carbon material containing silver and gold, and (iii) doré containing silver and gold. We are currently organized and managed in five segments: Greens Creek, Lucky Friday, Keno Hill, Casa Berardi and Nevada Operations.

General corporate activities not associated with operating mines and their various exploration activities, as well as idle properties and environmental remediation services in the Yukon, are presented as “other.” Interest expense, interest income and income and mining taxes are considered general corporate items, and are not allocated to our segments.

The following tables present information about our reportable segments metal sales for the three months ended March 31, 2023 and 2022 (in thousands):

	Three Months Ended March 31,
	2023			2022
Net sales to unaffiliated customers:
Greens Creek	$	98,611		$	86,090
Lucky Friday		49,110			38,040
Keno Hill		—			—
Casa Berardi		50,998			62,101
Nevada Operations		272			268
Other		509			—
	$	199,500		$	186,499
Income (loss) from operations:
Greens Creek	$	31,241		$	34,586
Lucky Friday		14,568			8,771
Keno Hill		(6,763	)		—
Casa Berardi		(13,693	)		(2,699	)
Nevada Operations		(5,410	)		(12,231	)
Other		(14,390	)		(13,669	)
	$	5,553		$	14,758

The following table presents identifiable assets by reportable segment as of March 31, 2023 and December 31, 2022 (in thousands):

	March 31, 2023		December 31, 2022
Identifiable assets:
Greens Creek	$	582,855	$	582,687
Lucky Friday		553,447		571,510
Keno Hill		303,340		276,096
Casa Berardi		693,763		681,631
Nevada Operations		465,037		466,722
Other		327,182		348,526
	$	2,925,624	$	2,927,172

Our sales for the three month period ended March 31, 2023 are comprised of metal sales as described below and $0.5 million of environmental services revenue.

Sales by metal for the three month periods ended March 31, 2023 and 2022 were as follows (in thousands):

	Three Months Ended March 31,
	2023			2022
Silver	$	81,532		$	66,332
Gold		75,087			77,168
Lead		25,402			19,564
Zinc		32,943			35,638
Less: Smelter and refining charges		(15,973	)		(12,203	)
	$	198,991		$	186,499

Sales of metals for the three month periods ended March 31, 2023 and 2022, included a net gain of $0.9 million and a net loss of $4.8 million, respectively, on financially-settled forward option contracts for silver, gold, lead and zinc. See Note 8 for more information.