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Alexco Silver Production Increases 21% to More Than 600,000 Ounces in Fourth Quarter 2011
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2012) - Alexco Resource Corp. (TSX:AXR)(NYSE Amex:AXU) today reports record silver production of 608,093 ounces during the fourth quarter of calendar 2011 from the Bellekeno mine in the Keno Hill Silver District, Yukon. Silver production increased 21%, mine output increased 66% and mill throughput increased 5% compared to the prior (third) quarter of calendar 2011. Total production during 2011, which was Alexco's first full year of mine operations, was 2,020,695 ounces of silver, 16,454,395 pounds of lead and 7,219,740 pounds of zinc. Alexco anticipates further increasing silver and base metal production in 2012 with the development and commissioning of two additional underground mines in the Keno Hill Silver District. The Company is also planning an approximate 25% expansion of surface and underground exploration drilling programs during 2012.
cont: http://www.marketwire.com/press-release/alexco-silver-production-increases-21-more-than-600000-ounces-fourth-quarter-2011-tsx-axr-1609432.htm
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Scoreboard for the week: +1.37%
Gold & Silver had big days yesterday...
Outstanding October recovery... sweet!
Yesterday was solid: +5.71%
For the week: -5.06%
-1.43% is the scorecard for the week...
Reviewing the week: +9.34%...
My friends, for the week: +10%
January 06, 2010 Alexco Achieves Commercial Production At Bellekeno
http://www.alexcoresource.com/s/NewsReleases.asp?ReportID=436503&_Type=News-Releases&_Title=Alexco-Achieves-Commercial-Production-At-Bellekeno
January 6, 2011 -- Alexco Resource Corp. (TSX:AXR, NYSE AMEX:AXU) ("Alexco" or the "Company") is pleased to announce that it has declared commercial production to have been achieved as of January 1, 2011 at its 100% owned Bellekeno silver-lead-zinc mine and mill complex in the Keno Hill Silver District, Yukon Territory. Commissioning of the Bellekeno conventional flotation plant and underground mine, initiated in late September 2010, was completed at the end of December with both the mine and mill operating at initial design throughput of 250 tonnes per day of ore for 30 days. This activity has also satisfied the Initial Completion test under the Company's silver purchase agreement with Silver Wheaton Corp. (NYSE, TSX:SLW). For financial reporting purposes, this declaration of commercial production establishes January 2011 as the first full month of commercial production.
Commissioning activity at the Bellekeno complex began in late September 2010 with confirmation of electrical and mechanical integrity of all plant equipment, and proceeded through scheduled processing of low grade material at low throughput rates in late October, and finally scale-up to initial design capacity and processing of ore by mid November. During the commissioning and ramp-up period of October through December, the mine produced approximately 15,700 tonnes of ore and the mill processed over 9,000 tonnes of ore and started shipping commercial specification concentrate for smelting and refining in early December. Average production grade of ore extracted during this October through December period, including low grade material specifically mined for plant commissioning purposes, was 1,068 grams per tonne silver, 12.6% lead and 6.6% zinc.
Optimization and debottlenecking activities continue at Bellekeno, as the mine and mill ramp up to fully-optimized levels of production. Primary focus areas of these activities include further optimization of pumping and piping efficiency between the flotation circuit and the dewatering (filtration) circuit, and continued improvement of operating efficiencies in the dewatering circuit.
"Reaching commercial production at Bellekeno is the final milestone in Alexco's transition to a fully accredited Canadian mining company, and a critical achievement in the growth and evolution of our business", said Clynton Nauman, Alexco's President & CEO. "We are looking forward to further success and growth of our Keno Hill operations in 2011, and especially working with our stakeholders to re-establish Keno Hill as one of the preeminent silver producing districts in the world."
Keno Hill Silver District History
Between 1921 and 1988, the Keno Hill Silver District produced more than 217 million ounces of silver with average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon Government's Minfile database). The historical production grades would rank Keno Hill in the top 3% by grade of today's global silver producers. The Keno Hill district is the second-largest historical silver producer in Canada.
CPM Group Looks For Historically High Silver Prices For Next Decade
10 December 2010, 10:30 a.m.
By Kitco News
http://www.kitco.com/
http://www.kitco.com/reports/KitcoNews20101210AS_CPM.html
(Kitco News) - Silver prices are projected to remain at historically high levels over the next 10 years, concludes CPM Group in its 2010 edition of its “Silver Long-Term Outlook,” released Thursday by the New York commodities research and advisory firm.
The 224-page study is a comprehensive analysis of the key market fundamentals of silver that are expected to influence prices over a decade. The report contains projections for global mine production through 2019 on a mine-by-mine basis and also contains a new China section with an analysis of the silver supply and demand in a previously opaque market. CPM Group said the use of silver in China during 2009 was perhaps twice as much as had been believed.
The report also reviews uses for silver, including new fabrication demand such as solar panels, as well as investment. The report includes 10-year projections of supply, demand, and prices under a base case and two alternative scenarios.
“Strong investment demand, the single most important factor in influencing the price of the metal, is expected to keep silver prices at elevated levels during the projected period,” CPM Group said in a news release announcing the publication, which can be purchased. “Investors who view silver as a safe-haven asset are expected to continue buying large amounts of silver over the next couple of years as uncertainty regarding global economic growth, financial market instability, and volatility in major currency markets persist. As these concerns recede later in the decade, investment demand is projected to decline. Silver prices are expected to weaken alongside the decline in investment demand as the decade progresses.”
CPM Group said fabrication demand for silver is forecast to rise over the projected period, providing additional support to prices.
“Even in present economic conditions, there is strong demand for some of the products in which silver is used, including various electronic components used in a full range of consumer and industrial equipment,” CPM Group said. “Fabrication demand for silver is expected to rise further over the next few years, due to an anticipated improvement in global economic activity coupled with increased use of silver in some of its new and relatively new uses, such as solar panels, silver-zinc batteries.”
Primary silver mine production is expected to increase due to high silver prices and the relatively low cash and total operating costs, CPM Group said. Also, since much silver is produced as a byproduct of gold, copper, lead, and zinc, favorable market fundamentals and rising prices for these metals are expected to mean higher output and thus more silver as a by-product during the initial years covered by the CPM Group report. However, during the second half of the forecast period, net additions to silver mine supply are expected to decline, which CPM Group forecast to support silver prices during that time.
Meanwhile, CPM Group said silver use in China is estimated to have risen around three and a half times over the last decade, from 40.8 million ounces in 2000 to 139.2 million ounces in 2009, twice as large as many Western commentators have previously suggested. “Chinese silver fabrication demand is projected to account for nearly a fifth of global silver fabrication demand this year,” CPM Group said.
Previously, a lack of reliable statistics on silver fabrication demand and secondary recovery prevented China’s inclusion in international statistics. However, CPM said it has developed what it feels are sufficiently reliable statistics on silver fabrication demand by major industrial category and scrap recovery, relying on a network of industry associations and industrial participants in these markets.
By Allen Sykora of Kitco News; asykora@kitco.com
For the week: - 9%... just the normal course of business.
+9% for the week...
In 2008 Silver Wheaton agreed to purchase 25% of the life of mine silver, paying Alexco US$50 million. At the time, Silver Wheaton CEO Peter Barnes said, "By partnering with Alexco, Silver Wheaton is strategically positioned within one of the richest silver belts in the world."
Congrats... for the week: +22% on this news:
The driver:
August 23, 2010
Alexco Issued Type A Water Use Licence, Sets Plans to Commence Silver Production at Keno Hill
http://www.alexcoresource.com/s/NewsReleases.asp?ReportID=415551&_Type=News-Releases&_Title=Alexco-Issued-Type-A-Water-Use-Licence-Sets-Plans-to-Commence-Silver-Produc...
August 23, 2010 -- Alexco Resource Corp. (TSX:AXR, NYSE AMEX:AXU) ("Alexco" or the "Company") is pleased to report that the Yukon Water Board has issued a Type A Water Use Licence for Alexco's wholly owned Bellekeno mine and mill project, located within the Keno Hill Silver District in Canada's Yukon Territory. The Water Use Licence is the final permit required by Alexco to commence commercial mine operations and concentrate production from the Bellekeno mill, currently approaching construction completion.
The issuance of Water Licence QZ09-092 completes the detailed environmental assessment and permitting process for Alexco's first producing mine in the Keno Hill Silver District. Clynt Nauman, President and CEO of Alexco, stated: "The issuance of this Water Licence clears the way for initiation of commercial operations at the Bellekeno mine and marks the first step in the rejuvenation of mine operations in the historic Keno Hill Silver District. To that end, the successful and timely permitting of mine operations at Bellekeno underscores our confidence in establishing a comprehensive plan for future development within the District."
Bellekeno Mine Project
The Bellekeno mine construction project remains on schedule for completion and initiation of commissioning within the next six weeks (see news release dated November 11, 2009 entitled "Alexco Completes Positive Bellekeno Mine Development Plan, Silver Wheaton Concurs -- Initiation of Construction Approved"). Through the end of July 2010, Alexco has incurred approximately $24.9 million, or 60%, of the $41.6 million of construction and development capital estimated to achieve commercial production under the original Development Plan. As of the current date, physical mine development is approximately 81% complete and physical mill construction is approximately 68% complete.
Once in production, the Bellekeno mine will operate at 250 tonnes per day supplying feed to a conventional flotation mill, producing up to 12,000 tonnes of lead-silver concentrate and 8,400 tonnes of zinc concentrate annually and generating up to 2.8 million ounces of silver per year. Initial silver grades in 2010 and 2011 are expected to be approximately 1,000 grams per tonne. The mine and mill operations will employ approximately 120 people and are expected to directly invest more than $25 million annually for labour, materials and supplies in the Yukon.
As disclosed in the news release of November 11, 2009, the Bellekeno deposit contains an indicated resource estimated at 401,000 tonnes grading 921 grams per tonne silver, 9.4% lead and 6.5% zinc, of which 321,941 tonnes containing an estimated 871 grams per tonne silver, 9.5% lead and 5.6% zinc on a payable metals basis are included in the initial mine plan. The deposit remains open down dip and down plunge, and underground definition and exploration drilling to expand the mineable resource is currently underway in parallel with mine development activities.
Keno Hill Silver District History
Between 1921 and 1988, the Keno Hill Silver District produced more than 217 million ounces of silver with average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon Government's Minfile database). The historical production grades would rank Keno Hill in the top 3% by grade of today's global silver producers. The Keno Hill district is the second-largest historical silver producer in Canada.
finally the run I have been waiting for....this is a 6.00 stock imo
Bellekeno will be among the most profitable high-grade silver mines in the world
The plant will begin production in the third quarter of 2010
This week, up 13.4%... following metals.
Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0)
AXR needs a second look IMO!
On second thoughts, they all look nice to me!
Kiwi
i-Box needs help...
According to the chart, this may jump through $4 Canadian soooooon...
Here is a March company overview in PDF:
http://www.alexcoresource.com/i/pdf/AXR-Overview.pdf
#1 in the silver section according to Bill Matlack
http://www.kitco.com/ind/matlack/feb152010_juniors.html
Alexco Resources (AMEX: AXU or TSE: AXR).
Alexco has a dual-focus business model in which they are engaged in a profitable environmental consulting/reclamation/mine closure business, but also own a project in one of the highest grade silver districts in the world – Keno Hill.
The Keno Hill Silver District has produced more than 217 million ounces of silver with average grades of 40 oz/ton silver, making it the second-largest historical silver producer in Canada.
Despite this impressive history, Alexco believes just 5% of the area has been explored. With low silver prices in 1989, the Keno Hill project was forced into government receivership and had huge environmental liabilities.
Alexco was brought in by the government to clean it up, realized the value of the project and in December of 2007 became 100% owner.
Silver Wheaton (SLW) has since taken a stake in Alexco’s future production, which should give you further confidence in the potential of their properties.
Alexco recently completed a $25.7 million financing for continued development of the Bellekeno mine, which is on track to commence production during Q3 of this year.
In addition to this near-term production, Alexco has begun an aggressive exploration program for 2010 which has the potential to significantly increase their resources.
I believe Alexco has blue-sky potential and could easily double in value over the next 12-24 months even if silver prices only advance modestly. If silver makes new highs by the end of 2010 as I suspect, shares of Alexco could see an astronomical increase.
Jason Hamlin -Author Disclosure:
I own shares of Alexco, but have not been compensated in any way to write about the company.
The above commentary was copied from the article - Silver Short Squeeze: Once in a Lifetime Opportunity?
http://seekingalpha.com/article/199037-silver-short-squeeze-once-in-a-lifetime-opportunity?source=yahoo
nice move again today. This will be a 200% gainer by the time it is done IMO.
weeeee....nice move today....
nice...i got filled this morning on AXU (Amex) on the drop got more at $2.56 closed at $2.71
possible. commodity run are still not done imo
I like this company's potential....this could be a double down the road...
Alexco gets pivotal permit for Yukon mine
By: Liezel Hill
18th November 2009
TORONTO (miningweekly.com) – Vancouver-based Alexco Resource Corp has been issued a quartz mining licence by the government of Yukon for its Bellekeno silver/lead/zinc mine in the Canadian territory.
The licence is the primary permit authorising Alexco to immediately begin mine development and mill construction at the site, the company said.
Last week, the company published the results of a development plan for the Bellekeno mine, and said its board had approved a plan to start construction immediately.
Alexco is now in the process of negotiating key engineering and procurement contracts for mine construction and operation and has begun placing orders for mine plant and equipment, the firm said in a statement on Wednesday.
The company is targeting full production by the third quarter of 2010.
In total, the Bellekeno project is expected to produce about 8,6-million ounces of silver, 65,2-million pounds of lead and 35,2-million pounds of zinc.
Alexco owns a large property package in the silver-rich area, which includes a number of historical mines, and is hoping to develop further projects in the future.
Shares in the company rose 5% on Wednesday, to C$2,95 apiece by 10:34 in Toronto.
Edited by: Liezel Hill
Alexco Resource CO C (TSE:AXR)
Last Price (CAD)
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▼ -0.12 (-3.88%)
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Alexco Resource CO C (TSE:AXR)
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Alexco Resource CO C (TSE:AXR)
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Alexco Intersects 7.8 Meters of 49.4 Ounces per Ton Silver; Drilling of "99" Zone at Bellekeno Continues to Confirm High Grade Ag Mineralization
Tuesday May 19, 3:10 pm ET
http://ca.us.biz.yahoo.com/iw/090519/0502913.html
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 19, 2009 -- Alexco Resource Corp. (Toronto:AXR.TO - News)(AMEX:AXU - News) ("Alexco" or the "Company") is pleased to announce additional results from its 2009 underground core drilling program at the Bellekeno Mine, Keno Hill Silver District, Yukon. Initial definition diamond drilling in the Bellekeno "99" Zone, one of three zones that comprise the Bellekeno resource, has confirmed high grade silver mineralization previously indicated from historical underground chip sampling.
Highlights
- Underground drilling in the upper "99" Zone has confirmed high grade silver-rich mineralization in the area of the historical chip sampling/resource. The "99" Zone has not been previously drilled by Alexco; drill testing of the zone is proceeding as drill platforms become available. Complete assay results have been received for 37 underground holes drilled in the Bellekeno upper "99" Zone resource area to date. Results include the following:
- DDH BKUD09-067 cut an interval grading 1,694 grams per tonne silver (49.4 ounces per ton), 0.443 grams per tonne gold, 8.14% lead and 8.26% zinc or 74.9 ounces per ton silver equivalent(i) over 7.83 meters from 29.04 to 36.87 meters.
- DDH BKUD09-071 cut an interval grading 1,863 grams per tonne silver (54.3 ounces per ton), 0.526 grams per tonne gold, 8.80% lead and 6.51% zinc or 77.5 ounces per ton silver equivalent(i) over 6.01 meters from 29.56 to 35.57 meters.
- DDH BKUD09-085 cut an interval grading 2,303 grams per tonne silver (67.2 ounces per ton), 0.393 grams per tonne gold and 34.95% lead and 10.44% zinc or 126.8 ounces per ton silver equivalent(i) over 2.29 meters from 29.10 to 31.39 meters.
- DDH BKUD09-089 cut an interval grading 1,898 grams per tonne silver (55.4 ounces per ton), 0.257 grams per tonne gold, 25.54% lead and 2.22% zinc or 88.8 ounces per ton silver equivalent(i) over 3.11 meters from 30.87 to 33.98 meters.
- DDH BKUD09-090a cut an interval grading 2,448 grams per tonne silver (71.4 ounces per ton), 1.182 grams per tonne gold and 11.31% lead and 1.67% zinc or 89.5 ounces per ton silver equivalent(i) over 2.05 meters from 34.97 to 37.02 meters.
- DDH BKUD09-097 cut an interval grading 2,176 grams per tonne silver (63.5 ounces per ton), 1.238 grams per tonne gold and 2.98% lead and 2.47% zinc or 73.8 ounces per ton silver equivalent(i) over 2.01 meters from 30.84 to 32.85 meters.
(i) Silver (Ag) equivalent calculated based on metal prices of US$525/oz Au, US$8.00/oz Ag, US$0.45/lb Pb, and US$0.75/lb Zn; metallurgical recoveries not considered.
The initial underground drilling in the Bellekeno mine upper "99" Zone was completed in April, totaling 1,795 meters in 37 drill holes. Approximately 40% of the planned holes in the "99" zone have been completed with the remainder to be drilled from the lower levels of the historical workings in June. In the meantime, drilling is continuing with two drills in the adjacent Southwest Zone.
Update on Bellekeno Underground Drilling Program.
To date, a total of 75 drill holes have been completed in the Bellekeno underground program, and approximately 40 more holes are still to be drilled to complete the planned 10,000 meters of underground infill/exploration diamond drilling. The primary goal of the program is to update the independent National Instrument 43-101 "Standards of Disclosure for Mineral Properties" ("NI 43-101") compliant resource estimate for Bellekeno totaling 537,000 tonnes grading 1,016 g/tonne silver, 0.4 g/tonne gold, 13.5% lead and 10.7% zinc (see news release dated January 30, 2008 entitled "Alexco Outlines New Zinc-Silver Zone at Bellekeno and Updates Resource Estimate") and to collect mining-related geotechnical data prior to a construction decision scheduled for later this year.
Alexco's 2009 Bellekeno underground drill program began in February, focusing on the upper part of the East Zone where drilling expanded mineralization defined by historical drilling and surface drilling by Alexco in 2007 (see news release dated April 20, 2009 entitled "Alexco Announces Initial Underground Drill Results, Bellekeno Mine: High Grade Silver-Zinc-Lead Mineralization Extended in Upper East Zone"). Assays for the last hole drilled on the East Zone have been received. The hole (BKUD09-049), located below the 625 adit level, intersected 1.95 meters grading 628 grams per tonne silver (18.3 ounces per ton), 1.322 grams per tonne gold, 0.24% lead and 8.28% zinc, or 36.7 ounces per ton silver equivalent(i), from 79.70 to 81.65 meters. The results are in line with previous reported results from this area of the East resource.
A composite table listing those 2009 Bellekeno "99" drill holes having complete assay results is available, along with drill hole location maps for past and current programs, on the company website at www.alexcoresource.com.
A construction decision for Bellekeno is anticipated within the next two to three months. A total of US$35 million for construction and development of the Bellekeno Mine will be provided by Silver Wheaton upon completion of a mutually acceptable development plan. Under a silver purchase agreement, Silver Wheaton will purchase 25% of future district silver production at a cost of US$3.90 per ounce of silver delivered, plus up-front deposit payments to Alexco totaling US$50 million. An initial US$15 million deposit payment was received in December 2008, and the remaining US$35 million will be received on a monthly draw-down basis commencing once a positive construction decision has been made and subject to certain other conditions including Alexco having sufficient committed funds available to complete construction and achieve production within specified time frames.
Notes
True widths have not been determined for all the above reported drill intercepts but are believed to be representative of actual drill thickness.
The 2009 infill/exploration drill program and sampling protocol has been reviewed, verified and compiled by Alexco's geologic staff under the oversight of Stan Dodd, Vice President, Exploration for Alexco and a Qualified Person as defined by 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 that were delivered to the lab. All drill core samples were shipped to ALS Chemex Labs facility at North Vancouver, BC for preparation followed by fire assay and multi-element ICP analyses. The contents of this news release have been reviewed by Mr. Dodd, who takes responsibility for the disclosure herein of scientific and technical information pertaining to Alexco's mineral properties.
Keno Hill Silver District History
Between 1921 and 1988, the Keno Hill Silver District produced more than 217 million ounces of silver with average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon Government's Minfile database). The historical production grades would rank Keno Hill in the top 3% by grade of today's global silver producers. The Keno Hill district is the second-largest historical silver producer in Canada.
About Alexco
Alexco's business is to unlock value and manage risk at mature, closed or abandoned mine sites through integration and implementation of the Company's core competencies which include management of environmental services, execution of mine reclamation and closure operations and if appropriate, rejuvenation of exploration and development activity.
Some statements in this press release contain forward-looking information. These statements include, but are not limited to, statements with respect to the entering into of agreements, the closing of transactions and the expenditure of funds. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing of transactions, the ability to fulfill certain conditions, the ability to raise funds and the timing and amount of expenditures.
Contact:
Contacts:
Alexco Resource Corp.
Clynton R. Nauman
President and Chief Executive Officer
604-633-4888
info@alexcoresource.com
http://www.alexcoresource.com
Source: Alexco Resource Corp.
Alexco Resource CO Com Npv (TSE:AXR)
Last Price (CAD)
$ 1.6
Change
◊ 0
Bid 1.59
Ask 1.61
Volume 167,640
Day's Range 1.59 - 1.70
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Last Trade:16:15:14 EDT May-12-09
Alexco Resource CO Com Npv (TSE:AXR)
Last Price (CAD)
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▼ -0.04 (-2.22%)
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Ask 1.80
Volume 3,100
Day's Range 1.75 - 1.76
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Last Trade:15:59:28 EST Mar-6-09
Alexco Resource Corp. is a precious metals exploration company with a silver focus and a growing environmental services business.
After completing an initial public offering in January 2006 on the TSX, Alexco has successfully established itself on two fronts.
The Company and its wholly-owned subsidiaries, Access Mining Consultants Ltd. and Alexco Resource US Corp., provide mine-related environmental consulting services, reclamation and mine closure services, and environmental remediation technologies to both government and industry clients.
www.alexcoresource.com/s/Home.asp
Alexco Resource CO Com Npv (TSE:AXR)
Last Price (CAD) $ 1.38
Change - $0.07 (-4.83%)
Bid 1.36
Ask 1.45
Volume 20,266
Day's Range 1.37 - 1.49
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Last Trade:15:59:57 EST Jan-27-09
Alexco Announces Final 2008 Drill Results from Keno Hill Silver District: Gold-rich Intercepts Encountered at Historical Keno 700 Mine Area
Wednesday January 21, 4:59 pm ET
http://ca.us.biz.yahoo.com/iw/090121/0467892.html
Alexco Receives US $15 Million Initial Tranche From Silver Wheaton; Continues to Forge Ahead With Bellekeno Exploration and Development
Tuesday December 23, 11:58 am ET
http://ca.us.biz.yahoo.com/iw/081223/0462603.html
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Alexco Resource Corp. is a precious metals exploration company with a silver focus and a growing environmental services business. After completing an initial public offering in January 2006 on the TSX, Alexco has successfully established itself on two fronts. The Company and its wholly-owned subsidiaries, Access Mining Consultants Ltd. and Alexco Resource US Corp., provide mine-related environmental consulting services, reclamation and mine closure services, and environmental remediation technologies to both government and industry clients. |
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