Don t mind the large cash position at all.
In fact it gives me confidence in the underlying value.
Someone made point with RIM-they made all this profit + cash but when you looked at the balance sheet there was not a lot of cash there.
For me a lot of cash=safety and hedges the risk of there other assets (if economy does well, get asset reflation, price of iron stays or goes up resulting in Alderon doing real well VS downturn, asset deflation/economic turmoil will allow ALS to pick up bargains with their cash balance)