Black Iron CEO to Participate IN a LIVE Video Interview ON August 14, 2017
BLACK IRON CEO TO PARTICIPATE IN A LIVE VIDEO INTERVIEW ON AUGUST 14, 2017
For Immediate Release
TORONTO, CANADA, August 11, 2017 – Black Iron Inc. (“Black Iron” or the “Company”) (TSX:
BKI) Chief Executive Officer, Matt Simpson, will participate in a live video interview with
Proactive Investors on Monday, August 14, 2017.
On July 19, 2017, Black Iron announced the engagement of BBA to develop a new National
Instrument 43 -101 compliant Preliminary Economic Assessment (“PEA”) on its wholly owned
Shymanivske iron ore project ( the “Project”). As background, Black Iron released a positive
bankable feasibility study on the Project in 2014. The study was based on the annual production
of 9.9MT of high grade 68% iron content concentrate at an estimated cost of US$45/T, used the
long-term broker consensus iron ore price at the time of US$95/T and an exchange rate of eight
Ukrainian Hryvnia (UAH) to the U.S. dollar. Today, the exchange rate is ap proximately
26UAH:US$1 and iron ore with 62% iron content is selling for approximately US$77/T. Using the
current exchange rate is expected to materially reduce the projected upfront capital cost since a
significant amount of the construction costs includi ng labour, concrete, steel and secondary
equipment such as conveyors will be Ukraine based. The lower exchange rate also results in
significantly lower operating costs as achieved by existing Ukraine iron ore miners such as
Ferrexpo, who has seen its reported full year operating costs decrease from approximately
US$46/T in 2014 to US$28/T in 2016.
Black Iron is a TSX listed company that went public in 2011, raising approximately $36 million at
a price of CAD$1.40 per share . After completing its bankable feasibility study on the Project in
2014, Black Iron entered into funding and strategic arrangements to provide a significant portion
of the capital required to move the Project forward towards production. Soon after, due to
political unrest in Ukraine and a sharp correction in the price of iron ore, the development of the
Project was delayed and funding agreements subsequently dissolved . During the last three
years, Black Iron has been working in Ukraine to obtain the land rights for the Project (see press
releases dated January 23, 2017, March 29, 2017, and July 18, 2017). Early in 2017 , with a
strong recovery in commodity price and little escalation in the Russia/Ukrainian conflict , Black
Iron developed a new revitalized go -forward plan f or the development of the Project, which
included the preparation of the PEA..
In this upcoming live interview , Matt Simpson will discuss the merits of the Project, the political
environment i nside Ukraine, his outlook for iron o re prices moving forward, and why an
investment in Black Iron , at current valuations , is well justified given the potential impressive
rates of return.
The interview will take place at 10.00 a.m. (EST). Those interested in learning more about Black
Iron as an investment opport unity are encouraged to send in questions for Black Iron 's
management to [email protected].
Please join the broadcast by clicking on the following link at the specified
time: https://www.youtube.com/watch?v=oGMkIv2ykDU
About Black Iron
Black Iron is an iron ore exploration and development company, advancing its 100% owned
Shymanivske project located in Kryviy Rih, Ukraine. This project contains a NI 43-101 compliant
resource estimated to be 645.8 Mt Measured and Indicated mineral resourc es, consisting of
355.1 Mt Measured mineral resources grading 32.0% total iron and 19.5% magnetic iron, and
Indicated mineral resources of 290.7 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
188.3 Mt of Inferred mineral resources grading 30.1% total iron and 18.4% magnetic iron. Full
mineral resource details can be found in the National Instrument 43 -101 compliant technical
report dated January 24, 2014 titled "Feasibility Study of the Shymanivske Iron Ore Deposit for
Black Iron Inc." under the Company's profile on SEDAR at www.sedar.com. The Shymanivske
project is surrounded by five other operating mines, including ArcelorMittal's iron ore complex.
The Company believes that existing infrastructure, including access to power, rail and port
facilities, will allow for a quick development timeline to producti on. Please visit the Company's
website at www.blackiron.com for more information.
The technical and scientific contents of this press release have been prepared under the
supervision of and have been reviewed and a pproved by Matt Simpson, P.Eng, CEO of Black
Iron, who is a Qualified Person as defined by NI 43-101.
For more information, please contact:
Matt Simpson
Chief Executive Officer
Black Iron Inc.
Tel: +1 (416) 309-2138
Derek Wood
Conduit Investor Relations
+1 (403) 200-3569
Forward-Looking Information
This press release contains forward -looking information. Forward -looking information is based on what
management believes to be reasonable assumptions, opinions and estimates of the date such statements
are made based on information available to them at that time, including those factors discussed in the
section entitled ‘‘Risk Factors’’ in the Company’s annual information form for the year ended December
31, 2016 or as may be identified in the Company’s public disclosure from time to time, as filed under the
Company’s profile on SEDAR at www.sedar.com. Forward -looking information may include, but is not
limited to, statements with respect to the Shymanivske project, preparation of a PEA, expec ted
economics forecast, timing for PEA, the Company’s ability to obtain the requisite land righ ts for the
Shymanivske project , prices of commodities, performance of the Company’s securities, geo -political
situation in Ukraine, and future plans for the Comp any’s development. Generally, forward looking
information can be identified by the use of forward -looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates"
or "does not anticipate", or "believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such forward-looking information, including but not
limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual
results of current exploration activities; other risks of the mining industry and the risks described in the
annual information form of the Compan y. Although the Company has attempted to identify important
factors that could cause actual results to differ materially from those contained in forward -looking
information, there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward l ooking information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable securities laws.