StoneCap Securities Updates Coverage on Alexco Resource Corp (TSX:AXR) (NYSE MKT:AXU) - Video Summary of Report Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
StoneCap Securities Updates Coverage on Alexco Resource Corp (TSX:AXR) (NYSE
MKT:AXU) - Video Summary of Report Posted on InvestmentPitch.com
Vancouver, British Columbia, May 30, 2013 - Investment firm StoneCap Securities
has updated its coverage on Alexco Resource Corp. (TSX:AXR) (NYSE MKT:AXU).
Following news that the company had received a completed and signed water use
licence amendment from the Yukon Water Board, analyst Christos Doulis maintained
his sector perform rating, with a one-year target of $3.00, which would give
investors a projected return of 96% over the $1.53 price the day the report was
issued.
InvestmentPitch.com has produced a "video news alert" about Alexco based on this
report. If this link is not enabled, please visit www.InvestmentPitch.com and
enter "Alexco" in the search box.
Located in Canada's Yukon Territory, Alexco Resource Corp. owns and operates the
Bellekeno silver mine, one of several mineral properties held by Alexco which
encompass substantially all of the historical Keno Hill Silver District.
Bellekeno, which commenced commercial production at the beginning of calendar
year 2011, is Canada's only operating primary silver mine, having produced 2.2
million ounces of silver in 2012.
This new water use licence allows Alexco to process mill feed from its Onek and
Lucky Queen mines. Production from these mines would be supplemental to the
Bellekeno mine and is not included in Alexco's production guidance for 2013 of
between 1.9 million and 2.1 million ounces of silver.
Although the Keno Hill Silver District lies within a traditional First Nation's
territory there is a fully settled land claim agreement in place with both the
Government of Canada and the Yukon, and Alexco operates within the District
under a comprehensive cooperation and benefits agreement with the First Nation.
Alexco's primary near-term exploration objective is to unlock value in the
silver-rich Keno Hill District, and is focused on growth by advancing its
promising District properties to development decisions. The Company's goal is to
produce 7 million to 10 million ounces of silver annually within the next
decade.
Employing a unique business model, Alexco also provides mine-related
environmental services, remediation technologies and reclamation and mine
closure services to both government and industry clients through the Alexco
Environmental Group, its wholly-owned environmental services division.
Analyst Christos Doulis stated, "The Water Licence is the last remaining permit
required for Onek to enter production, but due to the recent decline in silver
prices, Alexco is evaluating its options and may defer production from Onek."
The company is trading at $1.57 and with 62.2 million shares outstanding is
capitalized at $97.7 million. This is well below StoneCap's target price of
$3.00.
For more information, please visit the company's website www.alexcoresource.com
or contact Vicki Veltkamp, Vice President Investor Relations at 604-633-4888 or
email info(at)alexcoresource.com.
For more information about StoneCap Securities or to obtain additional research,
contact them at www.StoneCapsecurities.com.
InvestmentPitch.com, a multimedia company that provides a combined solution for
creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals, specializes in
producing short three minute videos based on significant news releases and
research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Unternehmensinformation / Kurzprofil:
Datum: 31.05.2013 - 01:53 Uhr
Sprache: Deutsch
News-ID 265124
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Kategorie:
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