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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Abraxus Inv. | AXU | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 3.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3.75 | 3.75 |
| Top Posts |
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Posted at 28/1/2021 23:25 by stu31 Alexco Closes $11.7 Million Flow-Through Equity Financing28/01/2021 2:55pm (All amounts expressed in Canadian Dollars unless otherwise indicated) VANCOUVER, BC, Jan. 28, 2021 /CNW/ - Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") announces that it has closed the previously announced flow-through bought deal public offering (the "Offering") with a syndicate of underwriters co-led by Cormark Securities Inc. and Cantor Fitzgerald Canada Corporation as joint bookrunners, and including R.F. Lafferty & Co. Inc. and A.G.P./Alliance Global Partners (collectively the "Underwriters"). With full exercise of the Underwriters' over-allotment option, the Company has issued a total of 2,704,770 "flow-through" common shares (the "Flow-Through Shares") for gross proceeds of $11,700,666. The Flow-Through Shares are comprised of (i) 2,053,670 shares issued as "flow-through shares" with respect to "Canadian exploration expenses" (the "CEE Shares") within the meaning of the Income Tax Act (Canada) (the "Tax Act") at a price of C$4.48 per CEE Share; and (ii) 651,100 shares issued as "flow through shares" with respect to "Canadian development expenses" (the "CDE Shares") at a price of C$3.84 per CDE Share. The gross proceeds from the sale of the CEE Shares will be used on exploration expenses on the Keno Hill project as permitted under the Tax Act to qualify as CEE. The proceeds from the sale of the CDE Shares will be used on development expenses on the Keno Hill project as permitted under the Tax Act to qualify as CDE. The Company will renounce all the CEE qualifying expenditures and CDE development expenses in favour of the subscribers of the CEE Flow-Through Shares and CDE Flow-Through Shares effective on or before December 31, 2021. |
Posted at 22/1/2021 00:10 by stu31 Alexco Announces $10.5 Million Bought Deal Flow-Through Share Public Offering21/01/2021 12:30pm VANCOUVER, BC, Jan. 21, 2021 /CNW/ - Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the "Underwriters") co-led by Cormark Securities Inc. and Cantor Fitzgerald Canada Corporation pursuant to which the Underwriters have agreed to purchase on a bought deal basis (i) 1,785,800 common shares to be issued as "flow-through shares" with respect to "Canadian exploration expenses" ("CEE") within the meaning of the Income Tax Act (Canada) and the regulations thereunder in force as of the date hereof (the "Tax Act") (the "CEE Flow-Through Shares") at a price of C$4.48 per CEE Flow-Through Share (the "CEE Offering Price"); and (ii) 651,100 common shares to be issued as "flow-through shares" with respect to "Canadian development expenses" ("CDE") within the meaning of the Tax Act (the "CDE Flow-Through Shares") at a price of C$3.84 per CDE Flow-Through Share (the "CDE Offering Price") (collectively, the "Offering"). The gross proceeds of the Offering will be approximately C$10.5 million. The Underwriters also have an option to purchase that number of additional CEE Flow-Through Shares equal to 15% of the number of CEE Flow-Through Shares sold pursuant to the Offering at CEE Offering Price, for market stabilization purposes and to cover over-allotments for a period expiring 30 days after the date of closing. The proceeds from the sale of the CEE Flow-Through Shares will be used on exploration expenses on the Keno Hill project as permitted under the Tax Act to qualify as CEE. The proceeds from the sale of the CDE Flow-Through Shares will be used on development expenses on the Keno Hill project as permitted under the Tax Act to qualify as CDE. The Company will renounce all the CEE qualifying expenditures and CDE development expenses in favour of the subscribers of the CEE Flow-Through Shares and CDE Flow-Through Shares effective on or before December 31, 2021. The Offering will be qualified by way of a prospectus supplement (the "Prospectus Supplement") to the Company's existing base shelf prospectus in the provinces of British Columbia, Alberta, Ontario, Saskatchewan and Manitoba. The Prospectus Supplement (together with the related Base Shelf Prospectus) will be available on SEDAR at www.sedar.com. Closing is expected on or about January 28, 2021 and is subject to Toronto Stock Exchange and other necessary regulatory approvals. The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or under any securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, a U.S. person or person in the United States, except in certain transactions exempt from the registration requirements of the U.S. Securities Act and any applicable securities laws of any state of the United States. This release does not constitute an offer to sell or a solicitation to buy such securities in the United States, Canada or in any other jurisdiction where such offer, solicitation or sale is unlawful. "United States" and "U.S. person" are as defined in Regulation S under the U.S. Securities Act. |
Posted at 22/1/2021 00:02 by stu31 Alexco Extends Bermingham High-Grade Mineralization at Depth, Intersects 3,583 g/t Silver over 8.76 meters True Width and Oth...19/01/2021 1:17pm Alexco Provides Full 2020 Exploration Results and Operations/Corporate Update VANCOUVER, BC, Jan. 19, 2021 /PRNewswire/ - Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company) today reported results from its 2020 surface exploration drilling program that focused on the Bermingham Northeast Deep zone located at depth approximately 150 meters ("m") below the existing mineral resource, that is currently in development for ore production beginning in the second quarter of 2021. The Company also provided a brief update on Keno Hill Operations and Corporate activity. 2020 Exploration Results Highlights The 2020 surface exploration program completed 7,653 m of core drilling in 14 holes as detailed in Table 1. The program focused on a 550 m long structurally controlled sub-horizontal elongated zone in the same structural and stratigraphic setting that contains the high-grade mineralization initially discovered in 2018 below the Bermingham mineral resource (see news release dated September 10, 2019, entitled "Alexco Intercepts 8.1 Meters (true width) at Composite Grade at 1,414 Grams Per Tonne (45.5oz/t) Silver at "Bermingham Deep" Target"). The 2020 exploration program was designed to drill on approximately 100 m sections to trace the deeper zone southwest and northeast along strike within the favourable mineralization corridor. Significant results are reported below: (note that intercepts below are on sections located approximately 100 m apart and are listed from southwest to northeast along the zone (see Figure 2)). K-20-0769 intersected mineralization in both the Bermingham Footwall and Main veins: The Footwall vein extends over a true width of 8.76 m from 507.24 m containing 3,583 grams / tonne ("g/t") (115.2 ounces / tonne ("oz/t")) silver ("Ag"), including 4.54 m true width from 507.70 m at 5,497 g/t (176.73 oz/t) Ag and 1.64 m true width from 516.60 m at 3,834 g/t (123.28 oz/t) Ag. These include several very high-grade intervals including 0.41 m true width from 509.81 m at 15,174 g/t (487.84 oz/t) Ag, 0.28 m true width from 512.42 m at 21,994 g/t (707.12 oz/t) Ag, and 0.24 m true width from 517.45 m at 23,906 g/t (768.60 oz/t) Ag. The Main vein extends over a true width of 3.50 m from 473.86 m containing 707 g/t (22.72 oz/t) Ag, including 0.93 m true width from 476.72 m at 2,337 g/t (75.14 oz/t) Ag. K-20-0773 intersected the Footwall vein over a true width of 5.30 m from 496.24 m containing 2,070 g/t (66.55 oz/t) Ag, including 2.35 m true width from 499.31 m at 4,425 g/t (142.27 oz/t) Ag. K-19-0740* (previously reported on September 10, 2019) intersected several mineralized veins in this zone including: 8.15 m true width from 580.09 m containing 1,414 g/t (45.46 oz/t) Ag, including 0.59 m true width from 590.82 m at 10,105 g/t (324.88 oz/t) Ag. K-20-0761 intersected mineralization in both the Bermingham Footwall and Main veins: The Footwall vein extends over a true width of 6.12 m from 536.84 m containing 1,560 g/t (50.16 oz/t) Ag, including 2.72 m true width from 539.71 m at 3,381 g/t (108.71 oz/t) Ag. The Main vein extends over a true width of 1.30 m from 486.65 m containing 4,889 g/t (157.19 oz/t) Ag, including 0.71 m true width from 486.65 m at 8,810 g/t (283.25 oz/t) Ag, including 0.45 m true width from 486.92 m at 11,286 g/t (362.85 oz/t) Ag. K-20-0770 intersected mineralization in the Bermingham Footwall vein: The Footwall vein extends over a true width of 7.46 m from 559.06 m containing 1,381 g/t (44.40 oz/t) Ag, including 0.39 m true width from 563.67 m at 4,180 g/t (134.39 oz/t) Ag, and 0.24 m true width from 566.34 m at 9,800 g/t (315.08 oz/t) Ag. A Footwall splay extends over a true width of 2.28 m from 552.49 m containing 693 g/t (22.27 oz/t) Ag, including 0.42 m true width from 554.28 m at 1,987 g/t (63.88 oz/t) Ag. K-20-0762 intersected the Footwall vein over a true width of 1.87 m from 643.75 m containing 893 g/t (28.71 oz/t) Ag, including 0.79 m true width from 643.75 m at 2,058 g/t (66.16 oz/t) Ag. * Results from the 2020 drilling program and the previously reported hole K-19-0740 from the 2019 program used a 30 g/t Ag composite cutoff to include a maximum of two meters of unmineralized internal dilution. Hole locations are shown in Figure 1 and results detailed in Table 2 with all intervals adjusted to reflect estimated true width. Clynt Nauman, Chairman and CEO of Alexco commented, "The discovery of a significant zone of high-grade silver mineralization beneath the Bermingham deposit confirms that this is one of the more significant silver deposits in the entire Keno Hill Silver District, rivalling the extent of the historic Hector-Calumet deposit, which produced 96 million ounces of silver prior to shutting down in 1972. If the Northeast Deep zone discovery is further substantiated by the extensive drilling program we have planned for 2021, it is my view that the result will have important strategic implications for the future development of Keno Hill. Most interestingly, even as it currently stands, the western-most drill hole in the Northeast Deep zone - which returned a true thickness of 8.76 meters of mineralization grading 3,530 g/t (115.2 oz/t) Ag with 14% lead and 3% zinc - is located just 250 m east and 75 m below the projected bottom of the Bermingham primary decline. This means that this zone could be easily accessed from currently-planned mine infrastructure." 2020 Program Summary and Bermingham Geology The Bermingham deposit currently has an estimated silver Mineral Resource of 32.96 million ounces ("Moz") Indicated and 11.74 Moz Inferred, including 11.3 Moz in the Probable Mineral Reserve Estimate. Within the silver Mineral Resource, 1.57 Moz Indicated and 1.17 Moz Inferred estimated mineral resources are located in the Northeast Zone that lies approximately 150 m above the newly discovered Northeast Deep zone. The deeper mineralization was initially identified by surface exploration drilling completed in 2018 and 2019 (including drill hole K-19-0740 previously mentioned). The 2020 drill program was designed to assess the Northeast Deep zone in more detail, with a nominal drill grid spacing of approximately 100 m along strike by 50 m dip separation, and holes from surface ranging in depth between 550 m and 700 m (refer to Table 1, Figure 1, and Figure 2). From a geological perspective, the 2020 target zone was interpreted to lie in the vicinity of the intersection of the Bermingham Main vein with the Bermingham Footwall vein (see Figure 2), and specifically where the intersection occurs within the thick bedded quartzites that host the nearby historic Hector-Calumet mine. The 2020 exploration work has confirmed that the Northeast Deep zone mineralization occurs within a broad, structurally complex corridor that has a horizontal to gentle northeast plunge with an interpreted strike length of approximately 550 m and a dip extent of up to 100 m. Importantly, to the southwest of the 2020 Northeast Deep zone, this same vein intersection and mineralized corridor can be traced over an additional 400 m strike length through the Bear, Arctic and Etta Zones of the Bermingham deposit, where by contrast, it has a more moderate northeasterly plunge. On a broader scale, it is now clear that the Bermingham vein system represents a component of a coherent throughgoing shear zone that demonstrates an approximate five kilometer ("km") strike length from Hector-Calumet in the northeast to the fault offset continuation two km's southwest of Bermingham. This major structure includes at least the Hector-Calumet, Ruby, Bermingham, Aho and Coral-Wigwam vein systems which in aggregate have historically produced a total of 101 Moz Ag (see Cathro, 2006 reference below). Importantly, significant (blind) km-scale tracts remain untested along this highly productive system. Note: The 2020 exploration drill program and sampling protocol has been reviewed, verified, and compiled by Alexco's geologic staff under the supervision of Alan McOnie, Vice President, Exploration for Alexco and a Qualified Person as defined by National Instrument 43-101 ("NI 43-101"). A rigorous quality control and quality assurance protocol is used on the project, including blank, duplicate, and standard reference samples in each batch of 20 samples delivered to the assay lab. Drill core samples were shipped to ALS Minerals Labs at Whitehorse, Yukon for preparation, with fire assay and multi-element ICP analyses completed at the ALS Minerals facility in North Vancouver, British Columbia. 2021 Surface Exploration Drilling Program In mid-March 2021, Alexco is planning to launch a large-scale surface exploration program to drill a minimum of 25,000 m utilizing four drills and focusing on infill and extension drilling of the Northeast Deep zone mineralization. Directional drill technology will be used with the objective of updating the existing Bermingham Mineral Resource Estimate in Q4 2021, which will include the Northeast Deep zone. Keno Hill Operations Update Ramp up of mining and milling operations continue with activities adjusted and moderated to comply with modified COVID-19 protocols in the Yukon. Safety performance at Keno Hill remains excellent with the site achieving a milestone in December 2020 of 10 years without a Lost Time Accident. Underground activity is focused at the Bellekeno mine where longhole drilling and blasting of residual ore is providing feed to the mill, with concentrate shipments to the port of Skagway having already commenced. The mill continues the commissioning process and is operating with a modified schedule to best match the ore delivery from Bellekeno as well as optimizing the metallurgical performance of the changes to the mill circuit. At the Bermingham mine, underground development is proceeding well – with initial ore production anticipated in Q2 2021. The Alimak raise contractor has completed mobilization and setup and is currently advancing construction of the raise to surface. A full update and more detailed ramp up schedule for underground and mill production is expected to be provided in February, 2021. Sale of Brewery Creek Net Smelter Return Royalty ("NSR Royalty") On January 4, 2021 Alexco sold its NSR Royalty in Golden Predator Exploration Ltd.'s Brewery Creek Project to Wheaton Precious Metals Corp. for total cash consideration of CDN$4.5 million. |
Posted at 21/4/2004 11:24 by bobnumber1 New name, new Board, new strategy: operating at a loss, no directors' remuneration, no dividend, multiple buy-outs, no evidence of activity. Not exactly a picture of health is it? Only a matter of time before this one drowns... |
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