came across this from Paradigm

Alderon’s strategic land position and near‐term exploration upside make the company an
attractive investment as one of the few small‐cap, Canadian iron ore companies left
developing its 100%‐owned asset directly in the Fermont/Wabush iron ore camp, a worldclass
iron ore‐producing district. Alderon is making the right decisions in terms of working
quickly to rapidly develop its Kami Project; a new and long‐awaited resource estimate for
Kami is certain to catch the market’s attention in mid‐to‐late Q1 2011. This new estimate is
expected to solidify Alderon’s place on the map as a significant iron ore player in the region
from a resource standpoint. We have valued Alderon Resources at $4.20/sh with the value
derived exclusively from Alderon’s Kami project. We are initiating coverage on Alderon
Resources with a $4.20 target price (1.0X NAV) and a Buy Recommendation