SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Information Statement Pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Hecla Mining Company
(Name of Issuer)
Series B 7% Preferred Stock,
par value $0.25 per share
(Title of Class of Securities)
422704205
(CUSIP Number)
January 20, 2004
(Date of Event Which Requires Filing of This Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
2
CUSIP No. 422704205
--------------------------------------------------------------------------------
1. Name of Reporting Person:
Langley Partners, L.P.
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group:
(a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization:
Delaware
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5. Sole Voting Power: -0-
Number of
Shares
Beneficially 6. Shared Voting Power: -0-
Owned By
Each
Reporting 7. Sole Dispositive Power: -0-
Person
With
8. Shared Dispositive Power: -0-
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person:
-0-
--------------------------------------------------------------------------------
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares:
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9):
-0-
--------------------------------------------------------------------------------
12. Type of Reporting Person:
PN
--------------------------------------------------------------------------------
3
CUSIP No. 422704205
--------------------------------------------------------------------------------
1. Name of Reporting Person:
Langley Management, LLC
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group:
(a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization:
Delaware
--------------------------------------------------------------------------------
5. Sole Voting Power: -0-
Number of
Shares
Beneficially 6. Shared Voting Power: -0-
Owned By
Each
Reporting 7. Sole Dispositive Power: -0-
Person
With
8. Shared Dispositive Power: -0-
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person:
-0-
--------------------------------------------------------------------------------
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares:
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9):
-0-
--------------------------------------------------------------------------------
12. Type of Reporting Person:
OO
--------------------------------------------------------------------------------
4
CUSIP No. 422704205
--------------------------------------------------------------------------------
1. Name of Reporting Person:
Langley Capital, LLC
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group:
(a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization:
Delaware
--------------------------------------------------------------------------------
5. Sole Voting Power: -0-
Number of
Shares
Beneficially 6. Shared Voting Power: -0-
Owned By
Each
Reporting 7. Sole Dispositive Power: -0-
Person
With
8. Shared Dispositive Power: -0-
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person:
-0-
--------------------------------------------------------------------------------
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares:
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9):
-0-
--------------------------------------------------------------------------------
12. Type of Reporting Person:
OO
--------------------------------------------------------------------------------
CUSIP No. 422704205
--------------------------------------------------------------------------------
1. Name of Reporting Person:
Jeffrey Thorp
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group:
(a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization:
United States
--------------------------------------------------------------------------------
5. Sole Voting Power: -0-
Number of
Shares
Beneficially 6. Shared Voting Power: 33,000 (see Item 4)
Owned By
Each
Reporting 7. Sole Dispositive Power: -0-
Person
With
8. Shared Dispositive Power: 33,000 (see Item 4)
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person:
33,000 (see Item 4)
--------------------------------------------------------------------------------
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares:
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9):
7.1%
--------------------------------------------------------------------------------
12. Type of Reporting Person:
IN
--------------------------------------------------------------------------------
6
CUSIP No. 422704205
--------------------------------------------------------------------------------
1. Name of Reporting Person:
Jeffrey Thorp IRA, Bear Stearns Securities Corp. as Custodian
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group:
(a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization:
New York
--------------------------------------------------------------------------------
5. Sole Voting Power: -0-
Number of
Shares
Beneficially 6. Shared Voting Power: 33,000 (see Item 4)
Owned By
Each
Reporting 7. Sole Dispositive Power: -0-
Person
With
8. Shared Dispositive Power: 33,000 (see Item 4)
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person:
33,000 (see Item 4)
--------------------------------------------------------------------------------
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares:
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9):
7.1%
--------------------------------------------------------------------------------
12. Type of Reporting Person:
OO
--------------------------------------------------------------------------------
7
This Amendment No. 2 to Schedule 13G is filed by the
undersigned to amend and restate in its entirety the Schedule 13G dated as of
September 12, 2002, as amended by Amendment No. 1 dated October 23, 2002, with
respect to the shares of Series B 7% Preferred Stock, par value $0.25 per share,
of Hecla Mining Company.
Item 1(a). Name of Issuer:
Hecla Mining Company (the "Company").
Item 1(b). Address of Issuer's Principal Executive Offices:
6500 Mineral Drive, Suite 200
Coeur d'Alene, Idaho 83815-8788
Item 2(a). Name of Persons Filing:
(i) Langley Partners, L.P. ("Langley L.P."), (ii) Langley
Management, LLC, (iii) Langley Capital, LLC, (iv) Jeffrey
Thorp IRA, Bear Stearns Securities Corp. as Custodian
("Jeffrey Thorp IRA"), and (v) Jeffrey Thorp ("Thorp",
together with Langley L.P., Langley Management, LLC, Langley
Capital, LLC and Jeffrey Thorp IRA, the "Reporting Persons").
Item 2(b). Address of Principal Business Office:
For each Reporting Person:
535 Madison Avenue
7th Floor
New York, NY 10022.
Item 2(c). Citizenship:
See row 4 of each Reporting Person's cover page.
Item 2(d). Title of Class of Securities:
Series B 7% Preferred Sock, par value $0.25 per share ("Series
B Preferred Stock"), of the Company
Item 2(e). CUSIP Number:
422704205
Item 3. Not applicable.
Item 4. Ownership.
For Langley L.P., Langley Management, LLC and Langley Capital,
LLC:
(a) Amount beneficially owned: -0-
8
(b) Percent of Class: -0-
(c) Number of shares to which each of Langley L.P.,
Langley Management, LLC and Langley Capital, LLC has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or to direct the
disposition of: -0-
(iv) Shared power to dispose of or direct the
disposition of: -0-
For each of Jeffrey Thorp IRA and Thorp:
(a) Amount beneficially owned:
33,000 shares are owned of record by Jeffrey Thorp
IRA.
(b) Percent of class:
7.1% of the total outstanding shares of Series B
Preferred Stock. This percentage is based upon the
464,777 shares of Series B Preferred Stock issued and
outstanding (as reported in Schedule TO dated January
16, 2004).
(c) Number of shares to which each of Jeffrey Thorp IRA
and Thorp has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
33,000
(iii) Sole power to dispose or to direct the
disposition of: -0-
(iv) Shared power to dispose of or direct the
disposition of: 33,000
Item 5. Ownership of Five Percent or Less of a Class.
For Langley L.P., Langley Management, LLC and Langley Capital,
LLC:
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities check the following [X].
For Jeffrey Thorp IRA and Thorp:
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities check the following [_].
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not Applicable.
9
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported By the Parent Holding
Company.
Not Applicable.
Item 8. Identification and Classification of Members of the Group.
Not Applicable.
Item 9. Notice of Dissolution of a Group.
Not Applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
10
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: January 29, 2004
LANGLEY PARTNERS, L.P.
By: LANGLEY CAPITAL, LLC,
as General Partner
By: /s/ Jeffrey Thorp
---------------------------------------
Jeffrey Thorp, Manager
LANGLEY MANAGEMENT, LLC
By: /s/ Jeffrey Thorp
---------------------------------------
Jeffrey Thorp, Manager
LANGLEY CAPITAL, LLC
By: /s/ Jeffrey Thorp
---------------------------------------
Jeffrey Thorp, Manager
JEFFREY THORP IRA, BEAR STEARNS
SECURITIES CORP. AS CUSTODIAN
By: /s/ Jeffrey Thorp
---------------------------------------
Jeffrey Thorp
/s/ Jeffrey Thorp
--------------------------------------------
Jeffrey Thorp