02:10:19 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Alexco Resource Corp
Symbol AXR
Shares Issued 69,588,898
Close 2014-10-31 C$ 0.56
Market Cap C$ 38,969,783
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Alexco gains extra year for Silver Wheaton buy-down

2014-11-03 06:29 ET - News Release

Mr. Clynton Nauman reports

ALEXCO ANNOUNCES ONE YEAR EXTENSION OF SILVER STREAM AMENDMENT BUY-DOWN DATE

Alexco Resource Corp. and Silver Wheaton Corp. have agreed to extend the buy-down date for the pending amendment to their existing silver streaming agreement. As previously announced, the amendment becomes effective when Alexco makes a $20-million (U.S.) payment to Silver Wheaton, and the outside date for that payment has now been extended by one year to Dec. 31, 2015. In addition, the date for satisfaction of the 400-tonne-per-day mine(s) and mill completion test has also been extended by one year to Dec. 31, 2016.

Alexco's president and chief executive officer, Clynt Nauman, said: "The extension of the buy-down date gives Alexco considerable flexibility while we plan for future operations at Keno Hill, and importantly, enables implementation of the revised Silver Wheaton agreement to remain an option through challenging market conditions. In the meantime, we are acutely aware of our undervalued share price and do not want to dilute shareholders in the current market; to the contrary, I have continued to add to my Alexco holdings in recent weeks."

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