Hecla Mining (HL) Surges to All-Time High on Gold Rally

We recently published Market Downturn? Not for these 10 Stocks; 7 Jump to Record Highs. Hecla Mining Company (NYSE:HL) is one of the best performers on Thursday.

Hecla Mining jumped to a new all-time high on Thursday, as investors snapped up shares in mining companies amid gold’s rally to a new record level.

During the trading session, Hecla Mining Company (NYSE:HL) jumped to its highest price of $15.44 before trimming gains to end the day just up by 7.63 percent at $15.24 apiece.

Hecla Mining Company (NYSE:HL) rallied alongside its counterparts after gold cracked past the $4,300 territory on strong optimism for interest rate cuts, while investors treated it as safe haven amid renewed geopolitical tensions between the US and China.

Hecla Mining (HL) Surges to All-Time High on Gold Rally

In other news, Hecla Mining Company (NYSE:HL) earlier this month secured the approval of the US Forest Service for its planned copper-silver Libby Exploration Project in Lincoln County, Montana.

The new site unlocks the potential of high-grade copper and silver production in northwest Montana, with a current inferred resource of 112.2 million tons.

“Mineralization remains open down dip and to the north, offering potential for further resource expansion. The Rock Lake fault (the fault) is thought to limit mineralization extension to the west; however, the dip of the fault was previously interpreted to be dipping east, whereas new interpretations indicate it may be dipping to the west, which would offer the potential to extend mineralization in that direction as well,” the company said.

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Disclosure: None. This article is originally published at Insider Monkey.