Alexco had fallen behind its Keno Hill development and production plan and its original estimate of achieving commercial production in early 2022. Being a much larger business and given its organizational expertise and financial strength, Hecla is likely to achieve the full potential of Keno Hill while investing in exploration across the district. Each outstanding common share of Alexco will be exchanged for 0.116 of a share of Hecla common stock. This implies a consideration of 47 cents per Alexco common share and a premium of 23% based on the companies' five-day volume-weighted average price on the New York Stock Exchange on Jul 1, 2022. Per the deal, Hecla will provide interim financing to provide working capital and ensure the development and exploration at Keno Hill and subscribe for additional common shares, taking its stake to 9.9%. Hecla has entered into a deal with Wheaton Precious Metals Corporation ( WPM - Free Report ).