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Alderon Iron Ore Corp.
Summary
| Project: | Kami | |
|---|---|---|
| Deposit: | Kami | |
| Location: | Canada | |
| Commodities: | Iron | |
| Date: | 11/7/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 7-11-2017: Alderon Iron Ore Corp. announces a PEA report for its Kami deposit at the Kami project. Updated PEA results incl. post-tax NPV(8%) $941M, IRR 19.3%, LOM of 24yrs. Alderon Iron Ore Corp. ("Alderon") acquired a 100% interest in the Kamistiatusset | |
| Resources: | (Resource, M+I): 536.8Mt @ 28.6% TFe for Rose Deposit Mine Plan | |
| CP/QP: | [Resources]: Michael Kociumbas (Watts, Griffis & McOuat Ltd.) | |
| ABSTRACT: | Alderon Iron Ore Corp. ("Alderon") acquired a 100% interest in the Kamistiatusset Iron Ore Property (the "Property" or "Kami") on December 8, 2010 from Altius Minerals Corporation ("Altius"). The purchase is subject to a 3% gross sales royalty. Subsequently, Alderon signed a subscription agreement dated April 13, 2012, and amended August 13, 2012, with HBIS Group Co., Ltd. (“HBIS”), formerly known as Hebei Iron and Steel Group Co. Ltd. Under the terms of this Agreement, HBIS agreed to make a strategic investment into both Alderon and the Property, thus allowing HBIS to hold 19.9% of the outstanding common shares of Alderon and a 25% interest in a newly formed limited partnership that was established to own the Property. The parties also agreed upon the terms of all other material agreements governing the relationship between HBIS and Alderon and HBIS’s agreement to purchase iron ore concentrate produced at the Property. The following Technical Report presents a Preliminary Economic Assessment (“PEA”) that summarizes the results of an updated re-scoping exercise that was undertaken for the development of the Kamistiatusset (Kami) Iron Ore Property in Western Labrador following the announced acquisition of the Scully Property by Tacora Resources (“Tacora”). In March 2017, Alderon filed a PEA Report summarizing the results of a Study based on the construction of the Kami concentrator on the Scully Property and the disposal of Kami process tailings within the Scully open pit. Seeing that the Scully property is not currently available, the Project must revert back to the original plan to build the concentrator on the Kami Property and store tailings within a redesigned Tailings Management Facility (“TMF”) area. As such, in September 2017 Alderon commissioned the engineering consulting group, BBA Inc., to perform this updated PEA Study. This Report was prepared at the request of Mr. Mark Morabito, President and Chief Executive Officer of the Corporation. | |
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