Wednesday, March 28, 2012

WILLIAMS APPOINTED TO BOARD

A emerging mining giant in Labrador has announced a big catch!

Former Premier, and leading NL Entrepreneur  Danny Williams has joined the board of directors of Alderon Iron Ore Corporation. Williams was  appointed Special Adviser  to the chairman back in early January.

Alderon executive chairman Mark Morabito made the announcement today.

The company is forecasting that it will create some 15-hundred new jobs over the next two decades.  The property has  proven mineral resources of almost 500-million tonnes with the potential of another 598-million tonnes. It is a leading iron ore exploration and development company in Canada. The 100% owned Kami Project is located within an existing iron ore district and is surrounded by producing iron ore mines.

Kami is located 6.4km East of Consolidated Thompson's Bloom Lake Deposit and is in close proximity to a road (~2.5km), a railway (~4.5km) and a hydro power station (~15.5km). There are two railway options to transport the material to the deep sea ports and four port options which all provide year round access to the global market.

The company announced in December that t it has closed its previously announced non-brokered private placement of 2,000,000 flow-through common shares ) at a price of $3.00 per Flow-Through Share for gross proceeds of $6,000,00.

Companies world wide are looking to secure mineral resources to ensure their growth as consumption of scarce metals is forecast to grow.

No comments: