San Diego, Jan. 31, 2012 (Shareholders Foundation) -- An investigation for investors in Hecla Mining Company (NYSE:HL) shares over potential securities laws violations in connection with certain statements in regards to its Lucky Friday mine was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Hecla Mining Company (Public, NYSE:HL) concerning whether a series of statements made between October 26, 2010 and January 11, 2012, including Hecla Minings business, its prospects and its operations were materially false and misleading at the time they were made.

Hecla Mining Company reported that its annual Total Revenue increased from $157.64million in 2007 to $418.81million in 2010. Shares of Hecla Mining Company (NYSE:HL) rose from as low as $1.27 in March 09 to as high as $11.26 per share on December 31, 2010.

However, on April 15, 2011, a fatal accident occurred at Heclas Lucky Friday mine in Northern Idaho. The Mine Safety Health Administration (MSHA) assembled and sent an accident investigation team to the mine, conducted a physical inspection of the accident scene, interviewed employees, and reviewed documents and work procedures relevant to the accident.
On April 18, 2011 Hecla Mining Company said that The Lucky Friday mine has ceased mining to focus on rescue operations on an unaccounted employee. The employee died in the accident on April 15, 2011 by a rock fall.

On Nov 18, 2011, Hecla Mining Company (NYSE:HL) reported another accident at its Lucky Friday mine in Northern Idaho on November 17, 2011. According to Hecla Mining the accident occurred as part of the construction of the #4 Shaft at the Lucky Friday operation and two contractors were involved in the accident. Hecla Mining Company said the accident is being investigated by the company and representatives from MSHA and the Lucky Friday mine has temporarily ceased mining to investigate this accident.
The next day Hecla Mining Company disclosed that one miner critically injured at its Lucky Friday mine on November 17, died on November 19, 2011.
On Dec. 15, 2011, Hecla Mining Company announced that a rock burst at 5900 feet below the surface occurred Wednesday, December 14, at its the Lucky Friday mine and injured seven miners.
Hecla Mining said the mine was closed pending further investigation and MSHA had been notified. The next day Hecla Mining Company the rock burst that injured seven miners on Dec. 14, at the Lucky Friday mine is unrelated to two previous fatal accidents which occurred earlier in the year.
Then on Dec 21, 2011, Hecla Mining Company (NYSE:HL) announced that in order to ensure safe and efficient operations for its personnel, it will develop a new haulage way to bypass the rock burst that occurred at the Lucky Friday mine near Mullan, Idaho, on December 14. Hecla Mining said the creation of the bypass and reestablishing of the mine production is expected to be complete by the end of February 2012.
Then on January 11, 2012, Hecla Mining Company (NYSE:HL) reported that MSHA has ordered the Silver Shaft, a one-mile deep shaft from surface and the primary access to the Lucky Friday mine, closed for removal of built-up material in the shaft. Hecla Mining Company said this order is pursuant to the investigation following the December 14, 2011 rock burst at the mine and compliance with this order is expected to take through year-end.

NYSE:HL dropped from slightly below $6 per share on Jan. 10, 2012 to as low as $4.31 per share on January 11, 2012, less than half of its value one year earlier. NYSE: HL shares closed on January 31, 2012 at $5.26 per share.