Alexco Resource Corp. (AXU -8.1%) falls hard in early trading. Canaccord downgrades the shares...

|About: Alexco Resource Corporation (AXU)|By:, SA News Editor

Alexco Resource Corp. (AXU -8.1%) falls hard in early trading. Canaccord downgrades the shares to Sell from Hold as analyst Nicholas Campbell says the company could be out of cash by Q3 and may need to renegotiate the Keno Hill agreement with Silver Wheaton. AXU said Wednesday that Bellekeno silver production was 576,155 ounces during Q2 but CEO Clynt Nauman reminded investors that "metals prices are expected to have [a negative impact] on financial results for the quarter." AXU says it will suspend operations at the site prior to the onset of winter in order to "avoid selling silver at current or weaker market prices."