AXU - AXU STOCK NEWS

Hecla Mining Company (NYSE:HL) has completed its acquisition of Alexco Resource Corp. (NYSE American:AXU). With this acquisition, Hecla aims to increase its silver production to 17-20 million ounces annually by leveraging the Keno Hill property, expected to enhance its position as a leading silver producer in the U.S. and Canada. The acquisition involved issuing approximately $69 million in shares to Alexco shareholders and terminating a silver streaming interest for $135 million. Hecla also provided a $30 million secured loan to Alexco to support the transition.

Alexco Resource Corp. (NYSE American: AXU) has received a final court order from the Supreme Court of British Columbia, approving its acquisition by 1080980 B.C. Ltd., a subsidiary of Hecla Mining Company (NYSE: HL). Shareholders of Alexco will receive 0.116 shares of Hecla for each Alexco share. The arrangement is expected to close on September 7, 2022, after satisfying customary conditions. Post-acquisition, Alexco's shares will be delisted from the Toronto Stock Exchange and NYSE American. Details on the shares exchange can be found in the management information circular dated July 28, 2022.

Alexco Resource Corp. (AXU) announced that its Securityholders approved the acquisition by 1080980 B.C. Ltd., a subsidiary of Hecla Mining Company (NYSE: HL), via a plan of arrangement. The acquisition received overwhelming support, with 92.04% of Alexco's shareholders voting in favor. Under the terms, shareholders will receive 0.116 Hecla shares for each Alexco share held. The arrangement is subject to approval from the British Columbia Supreme Court, with a hearing scheduled for September 1, 2022, and is expected to close by September 7, 2022. Post-closure, Alexco shares will be delisted from major exchanges.

Alexco Resource Corp. (NYSE American: AXU) announced financial results for Q2 2022, revealing revenues of $3,952,000, a significant decrease from $7,939,000 in Q2 2021. The company reported a net loss of $95,062,000 largely due to a $97,048,000 write-down of mineral properties. Adjusted net loss stood at $4,269,000. The acquisition by Hecla Mining Company could affect investor sentiment. Alexco continued mining ramp-up efforts, with plans to temporarily suspend milling to enhance underground development.

Alexco Resource Corp. (NYSE American: AXU) has filed a management information circular and meeting materials for its upcoming special meeting on August 30, 2022. The meeting will address a proposed business combination with Hecla Mining Company (NYSE: HL), initially announced on July 5, 2022. Shareholders are set to vote on the Arrangement resolution, which offers a 12% premium on the share price. Hecla has also provided a $30 million loan to support Alexco's operations. The expected closing date for the arrangement is September 7, 2022.

On July 28, 2022, Alexco Resource Corp. (AXU) announced it received an interim order from the British Columbia Supreme Court, allowing a special meeting for shareholders to vote on the proposed arrangement with Hecla Mining Company. This arrangement entails 1080980 B.C. Ltd. acquiring Alexco's outstanding shares via a statutory plan. An information circular will be sent to securityholders by August 8, 2022. The meeting is scheduled for August 30, 2022, with a proposed transaction closing date of September 7, 2022, pending necessary approvals.

Hecla Mining Company (NYSE: HL) is set to acquire Alexco Resource Corp. (NYSE American: AXU) in a definitive agreement. Each Alexco share will exchange for 0.116 Hecla shares, valuing Alexco at US$0.47 per share, a 23% premium based on recent stock performance. Hecla aims to enhance its silver reserves by 19% to 237 million ounces and improve production capabilities at the Keno Hill property. The transaction includes US$30 million in interim financing for Alexco, ensuring continued development. The boards of both companies have unanimously approved the merger, with completion expected in September 2022.

Hecla Mining Company (NYSE:HL) has reached a definitive agreement to acquire all outstanding shares of Alexco Resource Corp. (NYSE American:AXU) not already owned by Hecla. Each Alexco shareholder will receive 0.116 Hecla shares, valuing Alexco shares at US$0.47, a 23% premium over the recent trading price. Hecla plans to provide interim financing for ongoing development at Keno Hill and has terminated a silver streaming interest with Wheaton Precious Metals for US$135 million of its shares. This acquisition is set to enhance Hecla's silver reserves by 19% and position it as Canada's largest silver producer.

Alexco Resource Corp. (NYSE: AXU) reported ongoing developments at its Keno Hill Silver District in Yukon. Mining activities ramped up in May, with significant improvements in underground performance and mill throughput. The company milled approximately 5,750 tonnes of ore, marking a 19% increase over April, and achieved over 93% silver recovery. However, due to insufficient underground development progress, Alexco plans to temporarily suspend milling operations for 5-6 months to focus on development. The company anticipates restarting milling in January 2023, with an estimated 4 million ounces of silver expected as ore feed in 2023.