BBA did technical report work for Bloom Lake.  Note the big discrepancy between Bloom Lake’s current operating costs and what the technical reports estimated.

BBA did technical report for Kami.  Hmm I guess Alderon’s management failed to mention this in their presentation.  Other slides in the presentation also fail to mention the sulfur and manganese levels in the Kami deposit.

*Disclosure:  No position in Alderon or Altius Minerals (key Altius employees sit on Alderon’s board of directors).  There may be some value in Kami.  However, I think that projections about Kami’s economics are “overly optimistic”.