Black Iron (TSX: BKI) (OTC: BKIRF) (GR: BIN), a Canadian iron-ore exploration and development company, anticipates delivering premium iron ore concentrate from its Shymanivske Iron Ore Project, and this supply could be exchanged for project construction financing. A recent article discussing the company’s progress on the project reads, “Currently, the Black Iron management team is focusing on two primary goals — securing sufficient financing and getting the required surface rights for the project. The project is currently doing well in terms of the first goal. In addition to Glencore investing equity, international finance institutions and European banks are highly interested in investing debt due to the project’s robust economic projections and the low operating costs. Good progress is also being made on surface rights, with a site visit attended by representatives from Ukraine’s Ministry of Defense, Dnepropetrovsk Regional Council, Kryvyi Rih City and Black Iron to review options for land transfer occurring during the first week of March.”
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About Black Iron Inc.
Black Iron is an iron-ore exploration and development company, advancing its 100 percent 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 percent total iron and 18.8 percent magnetic iron, and Indicated mineral resources of 290 Mt grading 31.1 percent total iron and 17.9 percent magnetic iron, using a cut-off grade of 10 percent magnetic iron. Additionally, the Shymanivske Project contains 188 Mt of Inferred mineral resources grading 30.1 percent total iron and 18.4 percent 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.
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