Alderon Confirms Rail and Port Capacity
11 Enero 2011 - 8:00AM
Marketwired
Alderon Resource Corp. (TSX VENTURE: ADV)(OTCQX: ALDFF) ("Alderon")
is pleased to confirm railway and port capacity in Labrador and
Quebec, Canada.
Alderon has initiated discussions with Iron Ore Company of
Canada ("IOC"), a member of the Rio Tinto group, on use of the
Quebec North Shore & Labrador ("QNS&L") railway. Alderon
has also initiated discussions with the Port of Sept-Iles for
access to their soon to be constructed deep water multi-user
facility. Discussions will be ongoing with both of these parties to
firm up accountabilities, logistics and costs as part of the
Scoping Study due for completion late Q2 2011 and Feasibility Study
to be completed early 2012.
"We are quickly demonstrating the potential of our Kami Project
and therefore want to have all the logistics for transporting final
product from mine to customer settled," says Matt Simpson, COO of
Alderon.
In terms of the railway, although still preliminary, Alderon
will likely need to lease or purchase locomotives and railcars
which will be operated by QNS&L plus pay for any additional
sidings required on the railway. Alderon would be seeking a regular
daily service from QNS&L to minimize both operating and capital
costs as compared to an "as required" service used by some of the
aspiring smaller direct shipping producers in the area.
In regards to the Port, the Port Authority owns substantial land
at their berth which would be leased to Alderon on a long term
contract. Alderon would be accountable to pay for its car dumper,
stacker and reclaimer while the Port would manage the berth and
ship loading activities at their soon to be constructed berth; when
completed, this berth will have a 23m water depth capable of
handling the largest Capsize Ocean going vessels. A fee would be
paid to the Port for the land lease and for tonnage transported
across their system.
About Alderon
Alderon is a leading iron ore exploration and development
company in Canada. The Kami Project is located within an existing
iron ore district and is surrounded by producing iron ore mines.
The Alderon team is comprised of skilled professionals with
significant iron ore expertise to advance Kami towards
production.
For more information on Alderon, please visit our website at
www.alderonmining.com.
ON BEHALF OF THE ALDERON BOARD
Mark J. Morabito, President & CEO
Information set forth in this news release may involve
forward-looking statements under applicable securities laws.
Forward-looking statements are statements that relate to future,
not past, events. In this context, forward-looking statements often
address expected future business and financial performance, and
often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or
event "may", "might", "could", "should", or "will" be taken or
occur, or other similar expressions. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among others, the following
risks: the risks associated with outstanding litigation, if any;
risks associated with project development; the need for additional
financing; operational risks associated with mining and mineral
processing; fluctuations in commodity prices; title matters;
environmental liability claims and insurance; reliance on key
personnel; the potential for conflicts of interest among certain
officers, directors or promoters with certain other projects; the
absence of dividends; competition; dilution; the volatility of our
common share price and volume; and tax consequences to U.S.
shareholders. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that
statements are made and the Company undertakes no obligation to
update forward-looking statements if these beliefs, estimates and
opinions or other circumstances should change, except as required
by applicable law. Investors are cautioned against attributing
undue certainty to forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Alderon Resource Corp. - Vancouver Office Mark J.
Morabito President & CEO 604-681-8030 604-681-8039 (FAX)
mmorabito@explorationgroup.com Alderon Resource Corp. - Toronto
Office 416-309-2135 416-861-5887 (FAX) info@alderonmining.com
www.alderonmining.com
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