AXU - AXU STOCK NEWS

Alexco Resource Corp. (NYSE American: AXU) has officially commissioned the Keno Hill District Mill, marking a significant step toward becoming Canada's sole primary silver producer. Initial production of lead/silver and zinc concentrates is underway, sourced from the Bellekeno underground mine. The company employs over 150 personnel, with 93% from Yukon or British Columbia, and plans further underground development at other operations in early 2021. Exploration drilling has concluded with results expected in January 2021. The company is adapting its operations in response to COVID-19 restrictions.

Alexco Resource Corp. (AXU) reported Q3 2020 financial results showing an operating loss of $5.4 million, compared to a loss of $1.9 million in Q3 2019. Revenues from reclamation management increased to $795,000 from $555,000 year-over-year. The company maintained a strong cash position with $39.8 million in cash and equivalents. Significant progress was made at Keno Hill as preparations for initial silver concentrate production continue, with a target of Q4 2020 for commissioning the mill. The exploration program and mine development efforts are on track, supporting operational efficiency.

Alexco Resource Corp. (NYSE American: AXU) will release its third quarter 2020 financial results on November 12, 2020. The management will host a conference call on November 13, 2020 at 11:00 am ET to discuss these results. Alexco operates in Canada’s Yukon Territory, primarily focusing on the historic Keno Hill Silver District. The company aims to start producing and shipping concentrates in Q4 2020, projecting around 4 million ounces of silver production annually, based on its 2020 pre-feasibility study.

Alexco Resource Corp. (AXU) announced the filing of a preliminary short form base shelf prospectus with Canadian securities commissions and the SEC. This prospectus, effective for 25 months, allows Alexco to offer securities totaling up to Cdn$50 million. The offerings may include common shares, warrants, and subscription receipts. The company anticipates starting concentrate production at its Keno Hill Silver District in Q4 2020, projecting an average annual production of 4 million ounces of silver over 8 years. The registration statement is pending SEC effectiveness.

Alexco Resource Corp. (AXU) provided a development progress update on its Keno Hill project and extended its surface exploration drilling program at the Bermingham 'deep' target. The company expects mill commissioning and silver concentrate production in Q4 2020, with key infrastructure improvements nearly complete. The current recruitment drive aims to increase the workforce to 170 by year-end. Additionally, Paul Jones has been appointed Senior VP, Corporate Development. The exploration drilling aims for 7,500 to 8,000 meters to enhance silver resource identification, with results expected by Q4.

Alexco Resource Corp. (AXU) reported a net loss of $12.2 million or $0.10 per share for Q2 2020, primarily due to non-cash items related to a streaming agreement. As of June 30, 2020, the company held $17.8 million in cash and had net working capital of $24.4 million. Subsequent to the quarter, Alexco completed a $30 million equity financing. The Keno Hill Silver District is preparing for silver production expected in Q4 2020, following the approval of a renewed water use license. Key infrastructure developments are on schedule to support upcoming operations.

On July 27, 2020, Alexco Resource Corp. (NYSE American: AXU) announced receipt of a final amended Water Use License from the Yukon Water Board for the Keno Hill Silver District. The company is advancing its mining operations with the Bellekeno mine set to deliver ore in Q4 2020. Key developments include the recruitment of 65 employees and ongoing surface construction activities. A 4,200m exploration drilling program is underway to target extensions of the Bermingham deposit. Additionally, a management change was noted as Michael Winn resigned from the Board but will remain as a Strategic Advisor.

Alexco Resource Corp. (NYSE American: AXU) has completed its public offering of 10,994,000 common shares at $2.73 per share, raising $30,013,620 in gross proceeds. The offering was fully subscribed, including an over-allotment option. The cash commission paid to underwriters was 1.5% on the first $10 million and 6.0% on the remaining proceeds. The funds will support ongoing development at the Keno Hill Silver District and general corporate purposes. The company is advancing initiatives despite potential risks highlighted by forward-looking statements.

Alexco Resource Corp. (NYSE American: AXU) announced an increase in its bought deal financing. The Company will issue 9,560,000 common shares at $2.73 per share, raising $26,098,800 in gross proceeds. The Underwriters also secured an over-allotment option for an additional 1,434,000 shares. Proceeds will finance development at Keno Hill and support general corporate needs. The offering is expected to close on July 7, 2020, pending regulatory approvals.