Hecla Mining Company (NYSE:HL) has agreed to sell its Casa Berardi gold operation in Québec to Orezone Gold (TSX:ORE,OTCQX:ORZCF) for total consideration of up to US$593 million. The deal, announced on Monday (January 26), involves the sale of Hecla Québec, a wholly owned subsidiary of Hecla that holds the Casa Berardi mine and related exploration properties. Under the terms of the agreement, Hecla expects to receive up to US$593 million through a mix of upfront cash, equity, deferred payments and contingent consideration. Hecla will receive US$160 million in cash at closing, along with about 65.7 million Orezone common shares, representing about 9.9 percent of Orezone’s pro forma shares outstanding, currently valued at roughly US$112 million. In addition, Hecla is set to receive US$80 million in deferred cash payments, split into US$30 million payable 18 months after closing and US$50 million payable after 30 months. The remaining consideration is contingent and…
