Alexco Resource (AXU) Misses Q4 EPS by 5c, Revenues Beat
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Alexco Resource (NYSE: AXU) reported Q4 EPS of ($0.07), $0.05 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $633 thousand versus the consensus estimate of $320 thousand.
Clynt Nauman, Chairman and CEO commented, "2020 marked the restart of silver mining activities at our Keno Hill Silver District. Progress along our restart timeline has been safe and steady, but more protracted as we manage the necessary workplace and recruiting protocols while gaining a better understanding of the variable ground at Bermingham and Flame & Moth. We expect to complete all mill upgrades in Q2 2021; and mining operations and underground development are anticipated to achieve nameplate capacity of 400 tonnes per day in Q3 2021. I especially want to recognize the commitment and professionalism of our workforce who have been resolute through pandemic related operating protocols and regulations while scaling up an operation from scratch." Mr. Nauman added, "In the meantime, we are advancing a technical report to update our mineral resource and reserve estimate in light of improved silver prices and optimization studies and expect to complete this work in Q2 2021. In a similar fashion, we expect to further update our Bermingham mineral resource in Q4 2021 when results from our large Bermingham Northeast Deep exploration campaign become available. I look forward to updating you as our scale-up activities progress in Q2 2021 and Q3 2021."
For earnings history and earnings-related data on Alexco Resource (AXU) click here.
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