SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(RULE 13D-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13D-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
Hecla Mining Company
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
422704106
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(CUSIP Number)
June 27, 2008
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(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)
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*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 the 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 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).
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CUSIP NO. 422704106 13G PAGE 2 OF 6 PAGES
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1 NAME OF REPORTING PERSON:
Dane Andreeff
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
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5 SOLE VOTING POWER
NUMBER OF ------------------------------------------------------------
SHARES
BENEFICIALLY 6 SHARED VOTING POWER
OWNED 7,064,223
BY ------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON ------------------------------------------------------------
WITH: 8 SHARED DISPOSITIVE POWER
7,064,223
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,064,223
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.5%
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12 TYPE OF REPORTING PERSON*
IN, HC
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CUSIP NO. 422704106 13G PAGE 3 OF 6 PAGES
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1 NAME OF REPORTING PERSON:
Andreeff Equity Advisors, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF
SHARES ------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED 7,064,223
BY ------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON ------------------------------------------------------------
WITH: 8 SHARED DISPOSITIVE POWER
7,064,223
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,064,223
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.5%
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12 TYPE OF REPORTING PERSON*
PN, IA
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CUSIP NO. 422704106 13G PAGE 4 OF 6 PAGES
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ITEM 1(A). NAME OF ISSUER:
Hecla Mining Company
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
6500 N. Mineral Drive, Suite 200
Coeur d'Alene, ID 83815-9408
ITEM 2(A). NAME OF PERSON FILING:
This Schedule 13G is being filed on behalf of the following
persons (the "Reporting Persons"):
Dane Andreeff
Andreeff Equity Advisors, L.L.C.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
The principal business office of the Reporting Person filing
this Schedule 13G is located at 140 East St. Lucia Lane, Santa Rosa Beach, FL
32459
ITEM 2(C). CITIZENSHIP:
Dane Andreeff - - Canada
Andreeff Equity Advisors, L.L.C. - - Delaware
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock
ITEM 2(E). CUSIP NUMBER:
422704106
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CUSIP NO. 422704106 13G PAGE 5 OF 6 PAGES
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(b), OR 13d-2(b)
OR (c) CHECK WHETHER THE PERSON FILING IS: ONE OF THE FOLLOWING
Not applicable.
ITEM 4. OWNERSHIP:
The information in items 1 and 5 through 11 on the cover page (p.
2) on this Schedule 13G is hereby incorporated by reference.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
If this statement is being filed to report the fact that as of
the date hereof the Reporting Persons have ceased to be the beneficial owner of
more than five percent of the class of securities check the following. {square}
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
Mr. Andreeff is the Managing Member of Andreeff Equity Advisors,
L.L.C. ("AEA") and Maple Leaf Capital I, L.L.C. ("Capital"). AEA is the
Investment Adviser and Capital is the General Partner of the following limited
partnerships, each of which owns less than 5% of the issuer's securities:
(i) Maple Leaf Partners, L.P.
(ii) Maple Leaf Partners I, L.P.
(iii) Maple Leaf Discovery, L.P.
(iv) Maple Leaf Discovery I, L.P.
AEA is the Investment Adviser of Maple Leaf Offshore, Ltd., Maple
Leaf Discovery Offshore, Ltd., and an offshore managed account, each of which
owns less than 5% of the issuers securities. Mr. Andreeff is the Director of
Maple Leaf Offshore, Ltd. and Maple Leaf Discovery Offshore, Ltd.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP:
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not applicable.
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CUSIP NO. 422704106 13G PAGE 6 OF 6 PAGES
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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.
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: August 18, 2008
/s/ Dane Andreeff
________________________________
Name: Dane Andreeff*
ANDREEFF EQUITY ADVISORS, L.L.C.*
By: Dane Andreeff
/s/ Dane Andreeff
________________________________
Name: Dane Andreeff
Title: Managing Member
* THE REPORTING PERSON DISCLAIMS BENEFICIAL OWNERSHIP IN THE SHARES REPORTED
HEREIN EXCEPT TO THE EXTENT OF ITS PECUNIARY INTEREST THEREIN.