The universe of
mining stocks has certainly changed over the past decade. The popularity of pure
bullion ETFs, such as the
SPDR Gold Shares (ARCA:
GLD) and
iShares Silver Trust (ARCA:
SLV),
has given investors the option of bypassing the agonies and ecstasies
of individual companies in achieving exposure to precious metals. That
said, well-run mining companies can still offer
alpha to investors. The question, however, is whether
Alexco Resource Corp (AMEX:
AXU) deserves to be called "well-run" and whether it can achieve its production and cost efficiency goals.
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