RE:Axr winter operation haltedAnything can happen in this crazy market, but if you look at the price action since the announcement, it dropped a little for a short time but has since more than recovered. That would indicate to me that the market doesn't consider the shutdown a game-changer for Alexco one way or the other. That doesn't mean the price can't go back to sub-$1.00, just that it probably won't be because of the shutdown.
It certainly doesn't look good that AXR can't make a decent profit at sub-$20 silver, especially after all those years of boasting about net zero costs. But that's just the flip side of being a primary silver miner as opposed to a by-producer. It doesn't make sense to mine your highest grade material just to keep your head above water, especially if you think prices are going to rise dramatically after you have sold the family jewels for next to nothing. And mining lower grades at a loss just to keep going doesn't make a lot of sense either, especially when your stock price is already in the toilet. (Although I do worry about restart costs.)
I would expect AXR to follow the other miners as silver recovers, although perhaps with a lag since the silver is in the ground rather than in the bottom line. But whatever happens, Alexco's 66M+ oz of silver isn't going to disppear, and if the price continues to rise the company will do very well in the long run, especially if it can conserve its cash and use the time out to find more silver. Or, more critically at this point, figure how to radically get its costs down.