Cash preservation is the name of the game at Alderon

摘要

With iron ore prices off 49% year-on-year at US$71 per tonne, Al deron Iron Ore (TSX: ADV; NYSE-MKT: AXX) says it has no choice but to start a "comprehen sive" cash preservation program. The decision comes just four months after Alderon secured an offtake agreement with Glencore (LSE: GLEN) for iron ore from its US$1.3-billion, fully permitted Kami project in the Labrador Trough.