As I'm out of my office this morning I'm going to keep my newest recommendation short and sweet.  In light of the recent increase of iron ore prices I have decided to take position in Alderon Resource Corp.  Here is the company description:

Alderon Resource Corp. is an exploration and development company with an iron ore project that is slated for near term production. The Kamistiatusset (“Kami”) Property is located next to mining towns of Wabush, Labrador City and Fermont in Western Labrador, Canada. The property is also within close proximity to road, railway and hydro power.

The Kami Property currently contains three zones of iron ore: Rose Lake, Mart Lake and Mills Lake. Based on drilling to date, the Rose and Mills Zones may contain approximately 200 to 250 million tonnes with grades between 28 – 35% iron. These grades are analogous to those at Consolidated Thompson’s Bloom Lake Deposit. The potential tonnage and grade are conceptual in nature and it is uncertain if further exploration will delineate a mineral resource.

Continued worldwide demand for steel will keep driving iron ore prices upward and Alderon is well positioned to benefit from the continued demand. The Alderon team is comprised of skilled professionals with significant iron ore expertise to advance Kami towards production.

http://www.alderonmining.com/

Alderon has recently closed a $5 million non-brokered privte placement at a set price of $2.75 per share.  The company has also announced a 7 million exploration program on their "Kami" property that is expected to begin the first week of June this summer.  Their objective is to delineate approx. 500 million tonnes of iron ore in inferred and indicated categories.   

I currently rate ADV a BUY at the current levels and suggest you take a look at their company presentation.  As always, do your own DD and make sure Alderon is right for you.  Have a great trading day.

Risktaker77

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