Alderon Iron Ore Corp AXXDF

If Alderon defaults on 3/31...

[jduade]

Then won't Sprott take Kami, and Alderon goes bust? What is left for equity holders if Alderon defaults...serious question.

[willyk3]

They will certainly try to get their twenty mil back one way or another.  I guess that leaves altius or hebby to either pony up or arrange some other deal..  Altius seems to have the most to lose so I would assume they are quietly working the deal brokers..  I dont know-I thought this was a great project-but at this point we as common shareholders are about to suffer the ignomius

[MikPrecious]

It is true the project is costly but they had in mind a few groups that made up the summation and Hebei was going to put 200mill if they were ready. Unfortunately after this lost one they are going to the other few prospective opportunity that we're not as big to see if they still have interest.  Sprott is obviously not stupid to give it up or take it when they have no business except in

[Birtchtree]

Precious....."The main show was not really mark in these past year or so. It was someone else running the ship and he still running it."  Can you elaborate?????? If the last year under someone's leadership other than MM resulted in Tunghsu, then we"re still very dead in the water........ Obviously Altius and Sprott are key: There is money in the ground; not just buried

[MikPrecious]

Teyfun pretty much has been running the ship and Mark was just invisible.  If it goes down so does Altius shares and Hebei interest is evaporated as well.  They are attempting obviously to work out a deal during these times as it would be in the best interest of Sprott as well during thes Covid times.  The terms are probably taking longer than normal.  

[Birtchtree]

Precious......thanks for elaborating. The outcome of a default will take awhile to unwind through the parties and counterparties to this transaction. Do we know HBIS evaporates? Altius share price already reflects the Kami Kalamity in my opinion.  ( I would say ever since Kami started falling apart (months....years ago....) Altius share price fell along with the prospects for Kami (perhaps as

[MikPrecious]

HBIS falls off the table, so does all the tax losses, so do all the contracts, and the first payment go to other loans before Sprott and equipment is lost.  it maybe too combersome for Sprott.  It is conceivable they may buy more time to extend after this COVID which allows them to see opportunity and allows Alderon to continue to look for another prospective buyer.  It is my

[JaysFanCrypto]

I'm not sure Altius is going to rush in as saviour, remember, they are in on the Sprott loan so would get a chunk if the loan syndicate realizes on its security

[jduade]

Just playing Devil's Advocate here, but if Alderon defaults what's to stop Sprott from taking the deposit and selling it to the highest bidder. As an example, Alderon owns $14 million to Sprott. Tunghsu was about to pay $15 million for a 26% interest in the project. Why couldn't Sprott simply say to Tunghsu, we'll give you a 100% interest for $15 million? Maybe they could then work

[jduade]

Well, that played out as expected. Kami transitions to Sprott who had the legal right to claim the property via their debt agreement. Now Alderon is left without any assets, and per the press release last night has effectively no senior leadership remaining. I have to assume that this means the equity is effectively worth around $0.01 to $0.00. What's strange is that the bid/ask looks as if