Hummingbird says Pasofino Gold sale in the works
Hummingbird 's 53%-owned subsidiary Pasofino Gold is now in talks with an unnamed interested party on a non-exclusive basis.
Alexco Resource Corp. (TSX: AXU; NYSE: AXU) has boosted silver content at its Keno Hill project in Yukon by 22% to 1.44 million tonnes grading 804 g/t silver, 3.84% zinc, 2.64% lead and 0.31 g/t gold in proven and probable reserves. Those numbers represent about 1,035 g/t silver equivalent.
The mining plan has been updated to projected output of 35.5 million oz. silver over the next eight years. Average annual production will be 4.4 million oz. silver at an all-in sustaining cost of $11.59 per ounce.
The updated 43-101 report that Alexco filed on May 26 puts the life of mine, after tax free cash flow at approximately C$189.7 million using consensus metal prices of analysts, or C$277.3 million at the current silver price.
Alexco is ramping up production at Keno Hill this year to 400 tonnes/day through the mill. Mining is transitioning from the Bellekeno to Bermingham deposit, and exploration continues at the Bermingham NE Deep drill program. By 2024 annual production is expected to be over 5 million oz. silver when the mill is expanded to 550 tonnes/day.
(This article first appeared in the Canadian Mining Journal)
