Altius: Alderon Files Feasibility Study Regarding Kami Iron Ore
Altius owns 32.9 million share of Alderon and a 3% Gross Sales
Royalty on Kami iron ore property
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwire) -- 01/18/13 --
Altius Minerals Corporation (TSX:ALS) is pleased to report that on
January 16th, 2013 Alderon Iron Ore Corp. ("Alderon") (TSX:ADV) filed
its Feasibility Study Technical Report regarding its Kami Iron Ore
Property in western Labrador. The report is available on SEDAR at
Altius is a co-founder of Alderon and owner of 32.9 million Alderon
shares. In addition to its equity, Altius holds a 3% Gross Sales
Royalty on Alderon's Kami iron ore property. Altius shareholders are
encouraged to review the feasibility study inputs and results with
particular note of Alderon's estimate of royalty payments that will
be due to Altius, which is contained within section 22-4 of the
Altius wishes to extend congratulations to Alderon on achieving this
Altius is focused on the mining and resources sector through prospect
generation and the creation and acquisition of royalties and
investments. Altius has a strong financial position with total assets
of approximately $300 million, including $158 million in cash and
marketable securities. It has also built a portfolio of directly and
indirectly held junior resource investments, including 32.9 million
shares of Alderon Iron Ore Corp. (TSX:ADV).
Altius owns a 3% gross sales royalty on the Kami iron ore project of
Alderon, an effective 0.3% net smelter return royalty on the
producing Voisey's Bay nickel-copper-cobalt mine, a 2% gross sales
royalty on uranium in the Central Mineral Belt project of Paladin
Energy Limited, and several earlier stage resource project royalties.
Its growing project generation pipeline consists of a diversified
portfolio of exploration projects, many of which have attracted joint
venture funding partners.
Altius is a member of the S&P/TSX Global Mining Index and currently
has 28,257,564 shares outstanding.
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