The quarterly MD&As of juniors are definitely worth reading as they often make important disclosures in them. Normally I don't advocate reading quarterly reports as it is too short-term focused but I would advocate skimming the MD&A for information regarding the development of a junior's deposit. Selwyn Resources for example disclosed that its feasibility study was a failure in its MD&A; it did not disclose that in a press release until much later on.
As for the feasibility study on the Kami Property, we had been expecting, as indicated in prior MD&A’s, to
complete this study during the third quarter of 2012 and to release the final results during the fourth quarter of
2012. However, while the progress of the study itself has continued to advance, certain engineering studies and
optimization analyses within the overall feasibility initiative are taking more time to conduct and finalize than we
had originally anticipated. The results still may be released during the fourth quarter, but in any event, the results
of the feasibility study will be released prior to January 31, 2013.
In some cases, juniors will delay and delay the release of feasibility studies if the project is not remotely economic. I don't think it is the case here as Alderon's partner likely did their due diligence and the feasibility study will likely be heavily manipulated anyways (if Consolidated Thompson is any indication).
