Alexco Resource Corp. T.AXU

A little ambiguous

[roberto146]

Q3 2021 Report, 11/1/21:

Underground advance rates this quarter were up approximately 26% over Q2 2021, which has allowed us to reach the first two ore access levels at Flame & Moth, with initial ore production anticipated in late Q4 2021.
Once the Flame & Moth Alimak raise is completed in early 2022 we will be able to fill the mill and sustainably reach our targeted production levels.

Does this mean that the 30-day 400 tpd throughput completion test required to be completed by 12/31 to fulfill the SLW agreement is a little late? Wheaton's been pretty good over the last few years, agreeing to extend the agreement completion date (with extra compensation) because of the poor silver prices, but penalties accrue if the terms of the agreement are not fulfilled by 12/31/21.
If AXU's rockin' at 400 tpd now, no problem. It would be nice to have an interim progress update.

[mattbigham]

We've gone through the legal arguments why this won't happen and your inferences hold no basis of fact.

[roberto146]

Read the agreement.

[mattbigham]

Clynt has repeatedly and very openly stated/warned/cautioned that CV-19 has limited operations and their production timeline due to the Yukon's Covid laws and restrictions relating to importing,hiring,training and retaining experienced workers over the last year. Force Majeure is in full,legal effect as discussed prior upon your previous inference. Protracted legal matters are extremely

[roberto146]

I haven't seen a news release declaring Force Majeure, nor any reference to it, but my hope is that they're running 400 tpd since the end of November. Even just exceeding 322 tpd helps to mitigate any penalties. The last news release and Q3 report sounded very upbeat, viz: "we are rapidly moving closer to 'full production' and planning for cash flow self-sufficiency at

[mattbigham]

"The Company notes below the COVID-19 pandemic risk and its impact on development remains the foremost risk to schedule and scale-up activities at Keno Hill." Clynt in March AXU and Clynt as CEO have protected themselves by declaring the conditions that qualify as  Force Majeure in multiple NR's and/or quarterly review statements. If you have not acknowledged by reading 

[roberto146]

Cautions and updates about operational difficulties 6 months ago, and in the interim, do not constitute basis for Force Majeur; they are informational as to the status of conditions at the time that hinder progress. So you understand, Force Majeur is a declaration that contracts and committments will not be fulfilled. It is often suddenly declared when an immediate event makes fulfillment

[mattbigham]

Sure,Roberto. Write to the company and post what they say.