Alexco Reports Fourth Quarter and Year End 2016 Results

Alexco Resource Corp. (NYSE‑MKT:AXU, TSX:AXR) (“Alexco” or the “Corporation”) today reports financial results for the fourth quarter and year ended December 31, 2016.  All figures are expressed in Canadian dollars unless otherwise stated.  For the fourth quarter of 2016 Alexco recorded a net loss of $1.8 million (“M”) or $0.02 per share, including $0.7 M in depreciation and other non-cash costs. Alexco Environmental Group (“AEG”) recorded revenues of $11.4 M for the year ended December 31, 2016, with an annual gross profit of $2.9 M, achieving a gross margin of 25.2%.  For the full year 2016 Alexco recorded a net loss of $4.4 M or $0.05 per share, including $3.2 M in depreciation, share-based compensation expense and other non-cash costs offset by a gain of $2.7 M on investments held. The working capital position at year end was $23.4 M.
As quoted in the press release:

Alexco’s President and Chief Executive Officer Clynt Nauman said, “A lot was accomplished by Alexco in 2016, nothing more important than our exploration success at Bermingham along with raising additional capital, establishing the portal for our Flame & Moth underground access and commencing an updated Keno Hill Preliminary Economic Assessment subsequently completed in March 2017.  With the March 29, 2017 announcement of a Silver Wheaton amended silver purchase agreement, Alexco launches into 2017 squarely focused on moving forward with additional surface exploration, underground exploration and development, mill upgrades, and preparation of a prefeasibility level study, all necessary steps on the way to a final production decision.”

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Source: www.alexcoresource.com