Alderon files feasibility study technical report Alderon Iron Ore announced that it has filed a National Instrument 43-101 Technical Report dated effective December 17, 2012 on SEDAR. The Report is with respect to Alderon's Feasibility Study, or FS, of the Rose Deposit and Resource Estimate for the Mills Lake Deposit of the Kamistiatusset Iron Ore Property in western Labrador. The results of the FS were announced in a January 9 news release and there are no material differences between the results announced in that news release and those contained in the final report.
Alderon 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.