Black Iron (“Black Iron” or the “Company”) (TSX:BKI)(OTC PINK:BKIRF) has filed on SEDAR its National Instrument 43-101 Technical Report entitled “Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit” effective November 21, 2017 (the “re-scoped PEA”) for its Shymanivske iron ore project located in Kryvyi Rih, Ukraine (the “Project”).
The re-scoped PEA is based on a two-phased build out of the mine and production plant with the first phase operation producing 4MT per year of ultra high-grade 68% iron concentrate expanding to 8MT per year starting in the fifth year of production. By phasing the build, it significantly reduces the up-front construction costs of the Project thus increasing the projected returns of the Project. The Project is able to exhibit superior projected economics due to its proximity to major infrastructure including, railway, electrical power and a deep-sea port.
Matt Simpson, Black Iron’s CEO, commented:
“The long-term price used in the re-scoped PEA is lower than the December month to date average price of US$69.95/t as reported by Metal Bulletin, which as seen in the table below results in significant investor return projections. Further, once debt leverage is added, the projected returns should further increase.”