Alexco Resource rises on buyout by Hecla Mining

Centro HL Distribuzione SpA

05/07/2022 12:51

** U.S. shares of Vancouver-based miner Alexco Resource Corp
 AXU.TO ,  AXU.N  jump 6.2% to 44 cents premarket
    ** Hecla Mining Co  HL.N , the largest U.S. silver miner, 
says it will acquire AXU shares it does not already own; HL
shares up 0.5% at $4.03
    ** HL says it will provide AXU with a $30 mln secured loan
facility, and will buy AXU shares at 50 Canadian cents ($0.3864)
for a total value of about C$4.49 mln ($3.47 mln)
    ** Deal expected to close in September this year
    ** As part of the deal, HL will buy Wheaton Precious Metals
Corp's silver streaming interest in AXU's highly valued but
much-delayed Keno Hill project for $135 mln of HL stock
 urn:newsml:reuters.com:*:nPnjQQSXa
    ** AXU U.S. stock down 76.5% this year through last close

($1 = 1.2939 Canadian dollars)

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))