Alderon Iron Ore Corp. Featured by Peter Grandich
"This week the company announced that they have submitted their Environmental Impact Statement (EIS) to the Federal and Provincial Governments. For those that don’t know the significance of this process, it basically means that the countdown has officially begun. In roughly 12 months, Alderon should have all of the necessary permits required to begin construction of the Kami Iron Ore Mine."
Peter Grandich Blog, September 26, 2012
Grandich Client Update
The countdown has begun…
It comes as no surprise that Alderon has achieved yet another milestone, taking a big step towards becoming Canada’s next major iron ore producer! In the past three months, Alderon has confirmed a Measured & Indicated mineral resource of over 1 billion tonnes at 30% iron, the company has secured port access with the Sept-Îles Port Authority and just a few weeks ago, Alderon closed its share subscription agreement with Hebei Iron & Steel. This week the company announced that they have submitted their Environmental Impact Statement (EIS) to the Federal and Provincial Governments. For those that don’t know the significance of this process, it basically means that the countdown has officially begun. In roughly 12 months, Alderon should have all of the necessary permits required to begin construction of the Kami Iron Ore Mine.
The Alderon team has worked diligently over the past two years consulting stakeholders and collecting and analyzing data in order to produce the 5,000 page EIS. The next step in the process will be the public review period – an opportunity for the governments, stakeholders, aboriginal groups and the general public to review the document and provide feedback. And by Q3 of 2013, assuming all permits have been received, the company can officially begin construction, fulfilling its goal of becoming the next iron ore producer in the Labrador Trough. Based on the company’s expected timeline, it appears that they are (not surprisingly) well on schedule.
Bottomline
While the public review process takes place, Alderon’s shareholders have several more milestones to look forward to including the completion of the Feasibility Study, expected before the end of the year, and securing of both rail and power. In addition, there is the possibility of a further offtake deal for the remaining 40% of Kami’s production not covered under the HBIS agreement. All in all, I am looking forward to the next few months as Alderon’s management team continues to deliver strong news flow.
Note: Grandich Blog Compensation- $2000 monthly, Options: 225,000 @ $ .30 ( all previously exercised)
Cautionary Note Regarding Forward-Looking Information
This document contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: to (i) the ability to commence production at the Kami Project; (ii) the funding by Hebei of costs of developing the Kami Project; and (iii) mineral resource estimates; (iv) permitting timlines; (v) construction timelines; and (vi) an additional off-take deal.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources, the realization of resource estimates, iron ore and other metal prices, the timing and amount of future exploration and development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore
and develop the Kami Property in the short and long-term, the progress of exploration and development activities, the receipt of necessary regulatory approvals, including Chinese regulatory approvals, the completion of the environmental assessment process, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not commence at the Kami Property, risks relating to variations in mineral resources, grade or recovery rates resulting from current exploration and development activities, risks relating to the ability to access rail transportation, sources of power and port facilities, risks relating to changes in iron ore prices and the worldwide demand for and supply of iron ore and related products, risks related to increased competition in the market for iron ore and related products and in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities at the Kami Property may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, risks related to disputes with Aboriginal groups, environmental risks and the additional risks identified in the “Risk Factors” section of the Company’s Annual Information Form for the most recently completed financial year or other reports and filings with applicable Canadian securities regulatiors. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Readers are cautioned that the foregoing lists of factors are not exhaustive. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.
Additional Information
Additional information about the Kami Project can be found in the technical reports filed on SEDAR at www.sedar.com entitled: “Technical Report Preliminary Economic Assessment of the Rose Central Deposit and Resource Estimate for the Rose Central, Rose North and Mills Deposits of the Kamistiatusset (Kami) Iron Ore Property, Labrador for Alderon Iron Ore Corp.” dated effective October 26, 2011
Qualified Person
Edward Lyons, P.Geo., is Chief Geologist of the Company and a Qualified Person as defined by National Instrument 43-101 for the above mentioned project. The QP is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) and the Professional Engineers & Geoscientists Newfoundland & Labrador (PEGNL) as a registered Professional Geoscientist (P.Geo.). Mr. Lyons has reviewed and approved the technical information disclosed above.
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