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Stock Market & Financial Investment News

News Breaks
February 25, 2014
09:09 EDTAXXAlderon concludes power purchase agreement for Kami Project
Alderon Iron Ore announces that it has satisfied the remaining conditions for the confirmed power supply for the Kami Iron Ore Project, as its affiliate The Kami Mine Limited Partnership has entered into a Power Purchase Agreement and security agreement with NLH, a subsidiary company of Nalcor Energy. Additionally, in order to fund the first security deposit required under the Security Agreement, Kami LP has received a $22.0M loan from Liberty Metals & Mining. "The Power Purchase Agreement was a key infrastructure requirement and is critical in securing the previously announced debt financing and we are very pleased to have finalized it," the company said.
News For AXX From The Last 14 Days
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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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