Alexco Resource (AXU) Misses Q3 EPS by 1c

Alexco Resource (NYSE: AXU) reported Q3 EPS of ($0.02), $0.01 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $7.2 million versus the consensus estimate of $6.41 million.

Q3 2019 Highlights

• Overall, Alexco reported a net loss of $2,308,000, or $(0.02) per share for Q3 2019 and a loss before tax expense of $2,240,000 including net non-cash cost adjustments of $906,000. In the same period for 2018 the Company incurred a loss before taxes of $1,548,000, including non-cash income adjustments of $714,000. The operating loss for both periods was similar, with offsetting differences to the net loss related to non-cash adjustments resulting from the treatment of the embedded derivative on the Wheaton Precious Metals stream and deferred income tax expense.
• The Company's cash and cash equivalents at September 30, 2019 totaled $10,551,000 compared to $8,576,000 at December 31, 2018, while net working capital totaled $13,853,000 compared to $10,188,000 at December 31, 2018. The Company's restricted cash and deposits at September 30, 2019 totaled $2,774,000 compared to $2,725,000 at December 31, 2018.

Alexco's Chairman and Chief Executive Officer, Clynt Nauman, commented, "Alexco continues to move steadily forward toward resumption of mining operations at Keno Hill, having completed in Q3 a number of surface capital projects related to future production from the Bermingham mine as well as completing another successful season of surface exploration. Indications from all of our recent work, whether it be "right sizing" our future production plans to achieve a low-capital, high return project with capacity to produce approximately four million ounces of silver per year for seven to eight years, or whether it be our exploration focus to increase the total silver endowment of the District, consistently points to a project that is demonstrating significant upside in terms of capacity and longevity once production is re-established. On the permitting front, we are actively working to expedite the final stages of the Water Use Licencing process and remain confident that appropriate Quartz Mining Licence authorizations will be in place before year-end, enabling us to continue with underground development of the Flame & Moth and Bermingham deposits once the final production decision is made."

For earnings history and earnings-related data on Alexco Resource (AXU) click here.

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