Alderon Announces Feasibility Study Results Demonstrating $3.244 Billion NPV and 29.3% IRR for the Kami Project
Alderon Iron Ore Corp. (TSX:ADV)(NYSE MKT:AXX) ("Alderon") is pleased to announce that it has received the results of the Feasibility Study ("FS") on the Rose Deposit of the Kamistiatusset ("Kami") Iron Ore Property in western Labrador. The FS was completed by BBA Inc. ("BBA") located in Montreal, Quebec, Stantec Consulting Ltd. ("Stantec") located in St. John's, Newfoundland & Labrador and Watts, Griffis and McOuat Limited ("WGM") located in Toronto, Ontario, and is effective as of December 17, 2012. The National Instrument (NI) 43-101 compliant Report (the "Report") summarizing the results of the FS will be filed on SEDAR and Alderon's website within 45 days of this news release. Results of the FS disclosed in this press release are in USD and pre-tax (except where otherwise indicated).
Highlights of the FS include:
NPV at 8% discount rate
Total Estimated Capital Cost (excluding sustaining capital)
Average Estimated Operating Costs (loaded in ship Port of Sept-Iles)
FOB Concentrate Sales Price Forecast - based on long term CFR benchmark price of $110/T @ 62% iron adjusted for Kami Fe grade and Hebei agreement terms