Alexco Resource Corp Reports 2012 Financial Results

Alexco Resource Corp. (TSX:AXR,NYSE :AXU) reported its financial  results for 2012, including net income of $3.4 million.

As quoted in the press release:

For the year ended December 31, 2012, Alexco recorded income before taxes of $8.0 million and net income of $3.4 million or $0.06 per share. Alexco produced 2,150,959 ounces of silver during the year at its Bellekeno mine in the historic Keno Hill Silver Mining District in the Yukon, compared to 2,020,644 ounces of silver during calendar year 2011. Since the start of 2012, Alexco’s District-wide indicated silver resources increased 80% to 51.3 million ounces including the addition of 22.9 million ounces from the newly discovered Flame & Moth deposit.

Alexco’s CEO and President, Clynt Nauman, said:

2012 was a year of consolidation at the operations level, and expanded exploration activity at our newly discovered Flame & Moth deposit. Our focus on increased mill throughput in 2012 was rewarded with a 17% increase to an average 260 tonnes per day (tpd), and our 2013 objective remains firmly fixed on 400 tpd as new mine production at Onek and later, Lucky Queen, is brought on line. On the cost side, our 2012 full-year average cash costs per ounce of silver of $11.89 increased 17% or $1.76 per ounce from 2011.

To view the whole press release, click here.