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June 16, 2014
17:06 EDTAXU, SLWAlexco Resource announces amended silver streaming pact for Keno Hill
Alexco Resource (AXU) is pleased to announce it has come to an agreement with Silver Wheaton (SLW) to amend the Silver Purchase Agreement originally dated October 2, 2008, such that the fixed $3.90 per ounce silver streaming production payment is replaced with a variable production payment based on the spot price of silver, with significant positive implications for Alexco and the Keno Hill Silver District in general. The amended silver streaming agreement applies to 25% of Alexco's payable silver produced at its Keno Hill silver mining operations in Yukon, Canada. The newly agreed variable production payment is defined by a pricing curve with an apex at $19.45 spot silver price where Silver Wheaton will make a production payment to Alexco of $18.00 per ounce of silver delivered; that payment decreases by $0.91 per ounce for each $1.00 increase or decrease in silver price from $19.45, returning to a fixed $3.90 per ounce for spot silver prices of $35.00 per ounce and higher. The amendments to the underlying Silver Purchase Agreement are subject to Alexco paying Silver Wheaton $20M by December 31, 2014, with Silver Wheaton taking a lead role via participation in $5M of any Alexco equity raise in excess of $10M towards the $20M payment. In addition, a Silver Wheaton area of interest is established to include additional Alexco currently owned and future acquired properties within one kilometer of existing Alexco holdings in the Keno Hill Silver District. The amendment will be effective for a 10 year term from the time mining production re-commences in the District, with an option for Alexco to extend the amendment for another 5 or 10 years for an additional $10M or $20M, respectively.
News For AXU;SLW From The Last 14 Days
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March 30, 2015
07:30 EDTSLWJohn Tumazos to hold a conference
Very Independent Research Metals & Natural Resources Conference is being held in New York on March 30 with webcasted company presentations to begin at 8 am; not all company presentations may be webcasted. Webcast Link
March 23, 2015
08:03 EDTSLWSilver Wheaton coverage resumed with an Outperform at Raymond James
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March 19, 2015
07:51 EDTSLWSilver Wheaton coverage resumed with an Outperform at BMO Capital
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March 18, 2015
17:09 EDTSLWSilver Wheaton cuts quarterly dividend to 5c from 6c per share
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17:06 EDTSLWSilver Wheaton sees FY15 production 43.5M silver equivalent ounces
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17:05 EDTSLWSilver Wheaton reports Q4 EPS 14c, consensus 15c
Reports Q4 revenue $140.4M, consensus $151.58M. Attributable silver equivalent production in Q4 2014 of 9M ounces (6.4M ounces of silver and 34,500 ounces of gold), compared with 9.7M ounces in Q4 2013, representing a decrease of 8%.
15:20 EDTSLWNotable companies reporting after market close
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