Alderon Iron Ore Corp AXXDF

update

[donaldrideout]

I understand you have reached out to Deloitte in respect of the Alderon/Kami receivership. The sale of the Kami mine was approved by the Court on November 13, 202. It was anticipated that the sale would close prior to December 31, 2020.

 

Due to a requirement for the purchaser to consult with two First Nation communities prior to the NL Gov’t agreeing to transfer the mine licenses and subsequently the recent delay in the timing of the NL Provincial election results, the timing for closing has had to be extended on 3 occasions, the latest being to March 29, 2021. We do not expect any further delays and expect to close the sale on March 29, 2021.

 

If you require anything further I refer you to the Receiver’s website www.insolvencies.deloitte.ca/en-ca/Kami

[Surprise]

so we might get something from that closing?

[donaldrideout]

Hello; You will have to speak to Altius in respect of its press release. The Receiver can comment on the sale which I previously did, and the timing of the subsequent claims process which is expected to begin on May 1, 2021 after obtaining Court approval for such claim process (assuming the sale closes on March 29th and the receiver can gain access to the Court prior to May 1, 2021).