Alexco Resource Corp (AXU): Remember - We Owe SILVER WHEATON $20 Mil...

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dingocub

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Monday, 03/27/2017 9:31:34 PM

Monday, March 27, 2017 9:31:34 PM

Remember - We Owe SILVER WHEATON $20 Million by Mar 31st 2017..

Wonder what's gonna happen. I know they want to renegotiate that deal further... Didn't realize that Bermingham Mine doesn't fall under current renegotiation. Old deal still applies to that mine..!

"In June 2014, the Company amended its silver purchase agreement with Alexco Resource Corp. (“Alexco”)to increase the production payment to be a function of the silver price at the time of delivery. In addition, the area of interest was expanded to include properties currently owned by Alexco and properties acquired by Alexco in the future which fall within a one kilometer radius of existing Alexco holdings in the Keno Hill Silver District. The amended agreement is conditional on Alexco paying Silver Wheaton $20 million by March 31, 2017 at Alexco's option
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Certain provisions of the amended agreement are not applicable to the Bermingham deposit properties, with the result being that the original silver purchase agreement will continue to apply to those properties"