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Stock Market & Financial Investment News

News Breaks
November 8, 2012
07:02 EDTAXXAlderon signs engineering, procurement and construction management agreement
Alderon Iron Ore announce that it has signed an Interim Engineering and Planning Services Agreement with WorleyParsons Canada Services Ltd to perform Engineering, Procurement and Construction Management, or EPCM, Services on the Kamistiatusset Iron Ore Project in Western Labrador. WorleyParsons is one of the few global companies with the track record, resources, technical capabilities and systems to meet the demands of large-scale projects. The services contained within the Interim Agreement are estimated to cost $2.5M to complete and will allow WorleyParsons to progress with certain deliverables while pursuing negotiations for the full EPCM Agreement.
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December 19, 2014
08:01 EDTAXXAlderon appoints Anthony Glavac as Interim CFO
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December 9, 2014
06:34 EDTAXXAlderon announces cash preservation program including workforce reductions
Alderon reports that it has implemented a comprehensive cash preservation program that will allow the company to maintain a healthy working capital position into 2017 without the need to access equity or debt financing during the intervening period, aside from the financing required to commence construction at the Kami Iron Ore Project. Measures associated with this program include a number of voluntary vendor payment deferrals and relief from debt servicing requirements such as those outlined in the transaction with Liberty Metals & Mining Holdings described below, and workforce reductions. The company has kept its core team of executives intact which will allow it to continue to advance the Kami Project construction financing efforts and to commence construction in a rapid and seamless manner once such financing has been obtained.

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