Williams - The De Terminator

When one of the Directors of Alderon Iron Ore Corp. addressed the St. John's Board of Trade a week ago - the purported virtues of the Muskrat Falls deal were not the only items discussed.

The representative of Alderon also extolled the virtues of his own investments while taking some quality time to attack some unknown and some known critics of the hydro deal.

As was predicted by Sue's Blog a few weeks ago - the businessman also took the time to use Russell Wangersky's words to demonstrate how the government and Nalcor have been supplying all kinds of information and that critics may be upset with the media because:

"I don’t think it’s correct to say that investigative work isn’t being done. Perhaps it just hasn’t led to what some people want to hear."

Of course what the businessman failed to mention was the numerous editorials Wangersky has done that have questioned process and details of the proposed energy deal. Then again that would not have satisfied the businessman's argument.


The businessman also talked about his massive land development - set to break ground next year - in the City of St. John's west end. He mentioned having acquired the land 15 years ago and that the development could be worth 5 billion dollars. What land was he referring to? What land was acquired 15 years ago? What land was acquired when the businessman was a politician?

Just as a side note to VOCM the businessman while talking about slander and libel and lies - he stated "we must hold people accountable for their words". Maybe the open-line and back-talk hosts should remember the businessman's words the next time they think about allowing callers like "bob" to out and out lie about a private citizen.

Continuing with the "we must hold people accountable for their words" mantra - how is it that the big deal now is to power mines with Muskrat power and that the potential 15 billion in mining projects in Labrador could be jeopardized if the Muskrat deal is squashed.

Now the businessman - a Director of Alderon - a company that has strict corporate governance for its executive - was clearly following those guidelines by pushing the need for Muskrat to power the mines. When that businessman was the Premier the power was for:

Of the total 4.9 terawatt hours per year of power to be produced, initially 2.0 terawatts will be allocated to the Island to meet domestic demand and to displace expensive, dirty bunker "C" oil used in Holyrood; 

Approximately 1.0 terawatt hours per year, or 20 per cent of the output of Muskrat Falls, will be provided to Emera Inc. for use in Nova Scotia.  

The remaining power will be sold into the Maritime Provinces and the New England market place. Nalcor Energy will be able to sell power in these jurisdictions as a result of gaining existing transmission rights from Emera Inc. The total cost of the project will be approximately $6.2 billion 

Clearly holding people accountable for their words - does not mean much.

Will his words of 6.2 Billion hold-up? It used to be the total cost of the project but now the businessman suggests to us that perhaps 8 billion might be the price.

Now further on the Alderon situation - where the power supply is of critical importance to the development. Was the government of Newfoundland and Labrador under the Premiership of businessman Danny Williams unaware of Kami? No of course not. The day after the businessman announced his resignation as Premier - Alderon announced that it had raised over 16 million on a share offering. Monies raised in part to "advance" its Kami property in Labrador.

And so vested was Alderon Resources in this project - that in October 2011 it changed it's Corporate name to Alderon Iron Ore Corp to reflect that importance.

I do not create the facts - others have. How much in business - big corporate business - is happenstance?

Gary Norris
Danny Williams
Todd Burlingame
Brian Dalton

all to the Alderon Team. They list the acquisition of the businessman as a Director for the company as an impressive accomplishment ranked up there with the 490 million tonnes of ore, pre-tax NPV of over 3 billion dollars, completing a 40 million dollar investment, and commencement of trading on the NYSE.

The laws of the province should reflect a reasonable time-frame for government MHA's, Cabinet Ministers, Premiers, senior officials to become involved with any company that has any interest in a file that the politician/bureaucrat had worked directly with.

The time should reflect the relative power the individuals office had. My suggestion as follows:

MHA's 2 years
Cabinet Minister 4 years
Premier 5 years
Deputy or Assistant Deputy Minister 5 years

All within the span of two years - the former Premier announced a deal to develop Muskrat Falls, became a special advisor to Alderon, became a Director in Alderon, began speaking publicly on the importance of the Muskrat Falls project to Alderon.

The businessman also articulated to the Board of Trade that:

"debate is good"
"asking questions is important"
but
"opposition for the sake of opposition is wrong"
"critics who knowingly put misinformation in the public domain are irresponsible and are a disservice to the people of the province"

The businessman will determine what debate is good, what opposition is acceptable, which critics are responsible?

He then asked "what in the world is to be gained" by Ed Martin or Gil Bennett by forcing a bad project on their own province.

So the businessman will determine that people opposed to the project might have less than honourable intentions but the people who are for it have nothing but the best intentions. Once again Danny will determine that.

He has also determined as evidenced by such remarks - that these individuals can't be wrong, might just be making a mistake.

How many politicians, officials, lawyers, and experts got it wrong with the Upper Churchill?
How many Newfoundland and Labrador Hydro officials and politicians and business people got it wrong when privatization was attempted?

The businessman will be the De Terminator on all these matters?

Then how many times - including in the businessman's speech to the Board of Trade did he state "no more giveaways"? Where's all the ore going Mr. Businessman? How much of the ore will be processed here in Newfoundland and Labrador Mr. Businessman?

Alderon Iron Ore Corp. (TSX: ADV) (NYSE AMEX: AXX) (“Alderon" or the “Company”) is pleased to announce that it has signed a definitive subscription agreement dated April 13, 2012 (the "Subscription Agreement") with Hebei Iron & Steel Group Co., Ltd. (“Hebei”), China’s largest steel producer. Hebei will make a strategic investment into both Alderon and its Kami iron ore project (the "Kami Project") in an aggregate amount of C$194 million, in exchange for 19.9% of the outstanding common shares of Alderon (the "Private Placement") and a 25% interest in a newly formed limited partnership that will be established to own the Kami Project.

A newly formed limited partnership? Who owns that?

The businessman will not influence my decision on the proposed Muskrat Falls project, or the land project, or the fibre optic deal. The businessman will not be the De Terminator of what is legitimate or reasonable criticism - or who is or is not an acceptable critic.

Time for a referendum - without question - and let all FACTS be debated openly. What people determine from those facts - of course - is entirely up to them - not the De Terminator.