Alderon Iron Ore Corp AXXDF

So what happens now?

[JackFrost]

Hey guys, I'm relatively now to investing. I have never been in this situation before so I'm asking sincerely. What happens to those of us still holding Alderon? I've read that it will remain halted until early June when it is set to be delisted.  Is there anything to do at this point or is it simply over? My direct investing account still shows me holding shares. Will these simply be removed from my portfolio?

[jduade]

That's a good question Jack Frost. I was thinking that the shares would begin to trade on a different exchange with fewer listing requirements, but I'm not sure who at Alderon would be left to file the paperwork--other exchange options would be the Venture or the CNSX. I'm not sure if the shares will remain permanently halted or not. You likely have a few options... 1) You can call

[JackFrost]

Hey thanks Jduade,  I understand everything you said and appreciate the feedback.  As you noted there are multiple outcomes that could occur. I'm inclined to agree with you and will likely hold until way later in the year. At that time I would like abandon as you mentioned and claim a loss for 2020 tax filing purposes.  Hopefully something happens by then but if it doesn&

[Mymoneyisyourmo]

Yep, i'll be doing the same, no point in selling this now, wait till tax shearing, or else some white knight investor to make the blood pump again. which Is unlikely tho. Cheers.

[jduade]

Yesterday at close of markets Alderon was set to be delisted from the TSX, and thus the halt should be removed. The question remains if Alderon will be listed elsewhere, if so then the shares could theoretically trade as early as today. It may be interesting to keep an eye on the Alderon ADR (AXXDF) to see if that starts trading again, and then use that as a proxy for the price of the stock. 

[quinlash]

Looks like the listing was moved to the Grey Market, so yes, de-listed from TSX but can still be traded.  Grey Market listings have different rules for reporting etc and are generally considered higher risk.   You can confirm this yourself if you go in and attempt to place a buy or sell order on the stock.  You do not need to hit the submit button to confirm that the stock is

[MikPrecious]

have you tried selling in the grey market . can we tell how its selling . i wonder if my td broker would know .  wish i could get a few pennies out of it but i doubt it. I hate Sprott Forever!

[quinlash]

I never bought or sold on the grey market myself but I have traded pink sheet stocks and actually did very well with it.  Buyers picking up stocks on the grey market or pink sheets are optimistic that the stock will actually recover and become listed on a regular exchange again.  If IRON were to to picked up by another mine it may be done at a discount however your shares would then

[JackFrost]

It appears that my stocks have been changed from IRON to AXXDF on the OTC markets. It's still halted though. Anybody know how long it will be halted for or will it be halted indefinitely? 

[jduade]

It looks like a single trade of AXXDF for 1,500 shares went through on June 9th for $0.01. No bids or asks right now, which is surprising. I'd figure there be a lot of asks out there.  . @quinlash, you made a comment that shareholders can wait for another company to buy the mine. My understanding is that Sprott and the Alderon bond holders now own 100% of the mine and the equity holders

[MikPrecious]

Keep in mind this shell company has $millions in tax losses and bodes well for a company.  Also you can buy in the grey market which is hidden price and have to ask your broker.  Currently I believe you can buy at 0.01 last i saw it.  Also you are buying in the US market now.  There are buy and sell orders currently in the Grey market but in the US grey market.  To buy