Black Iron (TSX: BKI) (OTC: BKIRF) (GR: BIN), a Canadian
iron ore exploration and development company, is focused on securing financing
and land to start construction of its low-cost Shymanivske iron ore project in
the historically rich Kryvyi Rih region of Ukraine. An article discussing the
company reads, “Black Iron has been pushing to begin construction at its
Shymanivske project by the end of the year and is focused on raising capital to
fund construction and securing essential land-surface rights for the central
Ukraine site. The company recently signed a memorandum of understanding (MOU)
with Glencore, one of the world’s largest commodity traders, to make an
investment toward funding construction of the project in exchange for securing
the offtake of up to the full phase one planned annual production of four
million tons. Additionally, the MOU outlines cooperation between Black Iron and
Glencore to leverage their relationships to source the balance of funds
required to construct the project. Debt finance discussions are ongoing with
international financial institutions and Europe-based banks, which have shown
interest in the projected robust economics of Black Iron’s project due to its
low operating cost and construction capital intensity. . . . Solid progress is
also being made to secure land that’s essential for construction of the
processing plant, tailings and waste-rock stockpiles. On March 14, Black Iron
announced that Ukraine’s Ministry of Defense has developed a plan to transfer
the land being sought.”
To view the full article, visit http://ibn.fm/V9Afp
About Black Iron Inc.
Black Iron is an iron-ore exploration and development
company, advancing its 100%-owned Shymanivske Project located in Kryviy Rih,
Ukraine. The Shymanivske Project contains a NI 43-101 compliant resource
estimated to be 646 Mt Measured and Indicated mineral resources, consisting of
355 Mt Measured mineral resources grading 31.6% total iron and 18.8% magnetic
iron, and Indicated mineral resources of 290 Mt grading 31.1% total iron and
17.9% magnetic iron, using a cut-off grade of 10% magnetic iron. Additionally,
the Shymanivske Project contains 188 Mt of Inferred mineral resources grading
30.1% total iron and 18.4% magnetic iron. Full mineral resource details can be
found in the NI 43-101-compliant technical report entitled “Preliminary
Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit” effective
November 21, 2017, under the company’s profile on SEDAR. The Shymanivske
Project is surrounded by five other operating mines, including ArcelorMittal’s
iron ore complex. For more information, visit the company’s website at www.BlackIron.com.
NOTE TO INVESTORS: The latest news and updates
relating to BKIRF are available in the company’s newsroom at http://ibn.fm/BKIRF
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