Danny Willams - Alderon - Muskrat Falls

What's your opinion?

Code of Business Conduct and Ethics - Alderon 

Below please find a section under: Third Party Relationships - Conflict of Interest
 
Conflicts of interest arise where an individual’s position or responsibilities with the Company present an opportunity for personal gain apart from the normal rewards of employment, officership ordirectorship, to the detriment of the Company. They also arise where an individual’s personal interests are inconsistent with those of the Company and create conflicting loyalties. Such conflicting loyalties can cause an employee, director, officer or consultant to give preference to personal interests in situations where corporate responsibilities should come first. Employees, officers, directors and consultants of the Company shall perform the responsibilities of their positions on the basis of what is in the best interests of the Company and free from the influence of personal considerations and relationships. (emphasis added)

Quote by Danny Williams to Board of Trade - Reported by CBC Newfoundland and Labrador

"I most certainly would not jeopardize years of working for this province or my own personal reputation for the sake of Muskrat Falls or a mining company"

2011 Annual Report Alderon

Section: Management's Discussion and Analysis of Financial Condition and Results of Operations

Alderon depends on a single mineral project.

The Kami Property accounts for all of Alderon's mineral resources and exclusively represents the current potential for the future generation of revenue. The costs, timing and complexities of upgrading the mineralized material at the Kami Property to proven and probable reserves may be greater than Alderon anticipates. Mineral exploration and development involves a high degree of risk that even a combination of careful evaluation, experience and knowledge cannot eliminate and few properties that are explored are ultimately developed into producing mines. Any adverse development affecting the Kami Property will have a material adverse effect on our business, prospects, financial position, results of operations and cash flows The successful start of mining operations at, and the development of, the Kami Property into a commercially viable mine cannot be assured.

Alderon needs to enter into contracts with external service and utility providers.

Mining, processing, development and exploration activities depend, to one degree or another, on adequate infrastructure. In order to develop a mine at the Kami Property, we will need to negotiate and conclude various agreements with external service and utility providers for rail transportation, power and port access, and these are important determinants that affect capital and operating costs. The inability to conclude any such agreements could have a material adverse effect on the Company’s financial position, results of operations and cash flows and render the development of a mine on the Kami Property unviable.
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Danny Williams sits on the Board of Directors Alderon