This presentation provides an overview of Black Iron's compelling investment opportunity in iron ore. Black Iron holds two iron ore properties in Ukraine with a large NI 43-101 compliant resource totaling over 645 million tonnes. The project benefits from excellent infrastructure access being located near the city of Kryviy Rih and state-owned rail lines. A feasibility study is underway to develop a conventional flowsheet to produce a high quality iron ore product. The project is backed by a successful team with experience developing large iron ore mines.
This presentation provides an overview of Black Iron's compelling investment opportunity in iron ore mining in Ukraine. It highlights Black Iron's large, high-quality iron ore deposits near existing infrastructure, including proximity to rail lines and ports. The presentation also summarizes Black Iron's management team's experience developing other major iron ore projects and outlines the company's plans to complete a feasibility study and advance its projects towards production.
The presentation summarizes a compelling investment opportunity in Black Iron's iron ore deposits in Ukraine. It highlights the large measured and indicated resource of 646 million tonnes at 31.6% iron, the excellent infrastructure including proximity to rail, ports and a skilled workforce, and the potential to produce high quality 68% iron ore concentrate. The project is backed by experienced management and board with successful track records developing other major iron ore mines.
This presentation provides an overview of Black Iron Inc., a company that owns two iron ore properties in Ukraine that represent a compelling investment opportunity. The properties have a large NI 43-101 compliant iron ore resource near existing infrastructure. Black Iron has completed a bankable feasibility study indicating high margins due to low costs from nearby infrastructure, labor, and tax advantages. The properties are located in a major iron ore region close to European and Asian markets.
This presentation provides an overview of Black Iron Inc.'s investment opportunity in iron ore mining in Ukraine. It summarizes the company's Shymanivske iron ore project which has over 645 million tonnes of measured and indicated resources at over 31% iron content, as well as an additional 188 million tonnes of inferred resources. The presentation highlights the project's excellent infrastructure access via rail, ports, roads and electricity, its proximity to skilled labor, and management's experience developing other large iron ore mines.
This presentation provides an overview of Black Iron Inc.'s investment opportunity in its Shymanivske iron ore project located in Kryviy Rih, Ukraine. The project has a large NI 43-101 compliant resource of 646 million tonnes measured and indicated at 31.6% iron and additional inferred resources. The project benefits from excellent infrastructure access including roads, rail, ports and power. A bankable feasibility study outlines a 9.2 million tonne high-grade concentrate operation with an NPV of $3.5 billion and IRR of 45.9%. Black Iron is led by a management team with extensive experience developing and operating large iron ore mines.
This presentation provides an overview of Black Iron Inc.'s investment opportunity in iron ore mining in Ukraine. It summarizes Black Iron's Shymanivske iron ore project which has over 646 million tonnes of measured and indicated resources at 31.6% iron, as well as nearby infrastructure including roads, rail, ports and a skilled workforce. The presentation highlights Black Iron's management team which has experience developing other large iron ore mines and outlines the project's potential for growth and competitive economics.
This presentation provides an overview of Black Iron Inc.'s investment opportunity in iron ore assets located in Ukraine. It summarizes that Black Iron has two iron ore properties, Shymanivske and Zelenivske, with a NI 43-101 compliant resource at Shymanivske of 646 million tonnes measured and indicated at 31.6% iron, plus 188 million tonnes inferred at 30.1% iron. The presentation highlights the project's proximity to infrastructure including roads, rail, power and ports, as well as an experienced management team with success developing other large iron ore mines.
This corporate presentation outlines a compelling investment opportunity in an emerging iron ore company. The company has acquired two large iron ore deposits located in Ukraine that contain over 700 million tonnes of iron ore resources. The deposits have excellent infrastructure access and are located near key markets and labour. The company plans to produce iron ore pellets by 2015-2016, which command a higher price than fines. Management has significant experience developing and operating large iron ore mines.
This presentation provides an overview of Black Iron's compelling investment opportunity in iron ore mining in Ukraine. It highlights Black Iron's large, high-quality iron ore deposits near existing infrastructure, including proximity to rail lines and ports. The presentation also summarizes Black Iron's management team's experience developing other major iron ore projects and outlines the company's plans to complete a feasibility study and advance its projects towards production.
The presentation summarizes a compelling investment opportunity in Black Iron's iron ore deposits in Ukraine. It highlights the large measured and indicated resource of 646 million tonnes at 31.6% iron, the excellent infrastructure including proximity to rail, ports and a skilled workforce, and the potential to produce high quality 68% iron ore concentrate. The project is backed by experienced management and board with successful track records developing other major iron ore mines.
This presentation provides an overview of Black Iron Inc., a company that owns two iron ore properties in Ukraine that represent a compelling investment opportunity. The properties have a large NI 43-101 compliant iron ore resource near existing infrastructure. Black Iron has completed a bankable feasibility study indicating high margins due to low costs from nearby infrastructure, labor, and tax advantages. The properties are located in a major iron ore region close to European and Asian markets.
This presentation provides an overview of Black Iron Inc.'s investment opportunity in iron ore mining in Ukraine. It summarizes the company's Shymanivske iron ore project which has over 645 million tonnes of measured and indicated resources at over 31% iron content, as well as an additional 188 million tonnes of inferred resources. The presentation highlights the project's excellent infrastructure access via rail, ports, roads and electricity, its proximity to skilled labor, and management's experience developing other large iron ore mines.
This presentation provides an overview of Black Iron Inc.'s investment opportunity in its Shymanivske iron ore project located in Kryviy Rih, Ukraine. The project has a large NI 43-101 compliant resource of 646 million tonnes measured and indicated at 31.6% iron and additional inferred resources. The project benefits from excellent infrastructure access including roads, rail, ports and power. A bankable feasibility study outlines a 9.2 million tonne high-grade concentrate operation with an NPV of $3.5 billion and IRR of 45.9%. Black Iron is led by a management team with extensive experience developing and operating large iron ore mines.
This presentation provides an overview of Black Iron Inc.'s investment opportunity in iron ore mining in Ukraine. It summarizes Black Iron's Shymanivske iron ore project which has over 646 million tonnes of measured and indicated resources at 31.6% iron, as well as nearby infrastructure including roads, rail, ports and a skilled workforce. The presentation highlights Black Iron's management team which has experience developing other large iron ore mines and outlines the project's potential for growth and competitive economics.
This presentation provides an overview of Black Iron Inc.'s investment opportunity in iron ore assets located in Ukraine. It summarizes that Black Iron has two iron ore properties, Shymanivske and Zelenivske, with a NI 43-101 compliant resource at Shymanivske of 646 million tonnes measured and indicated at 31.6% iron, plus 188 million tonnes inferred at 30.1% iron. The presentation highlights the project's proximity to infrastructure including roads, rail, power and ports, as well as an experienced management team with success developing other large iron ore mines.
This corporate presentation outlines a compelling investment opportunity in an emerging iron ore company. The company has acquired two large iron ore deposits located in Ukraine that contain over 700 million tonnes of iron ore resources. The deposits have excellent infrastructure access and are located near key markets and labour. The company plans to produce iron ore pellets by 2015-2016, which command a higher price than fines. Management has significant experience developing and operating large iron ore mines.
An emerging iron ore company presents details on its Shymanivske Project in Ukraine. The project has a large NI 43-101 compliant iron ore resource of 345Mt measured and indicated at 31.83% iron, and 469Mt inferred at 31.05% iron. The project benefits from proximity to infrastructure and markets, and is located in a major historic iron ore production district. The company aims to produce 10Mtpa of iron ore pellets by 2015-2016.
This document provides an overview of an investment opportunity in Black Iron Inc. (TSX: BKI), an iron ore exploration and development company. Black Iron owns two iron ore properties in Ukraine that contain over 646 million tonnes of measured and indicated resources at 31.6% iron concentration, as well as additional inferred resources. The company has completed a bankable feasibility study showing a 9.2 million tonne high-grade concentrate project with a NPV of $3.5 billion and 45.9% IRR. Black Iron has an experienced management team with a track record of success in the iron ore industry. The project benefits from excellent infrastructure access in Ukraine and potential for resource expansion through further drilling.
- An emerging iron ore company presents its corporate overview and Shymanivske project in Ukraine.
- The Shymanivske project has a large NI 43-101 compliant iron ore resource of 345Mt measured and indicated at 31.83% iron, and additional inferred resources.
- The project is in a major historic iron ore district in Ukraine near infrastructure and markets, and adjacent to a large producing mine owned by ArcelorMittal.
This corporate presentation from Black Iron Inc. outlines an investment opportunity in an iron ore project located in Ukraine. The project has a large NI 43-101 compliant iron ore resource and benefits from excellent infrastructure access, including proximity to markets, skilled labor, rail, ports and surplus electricity. A bankable feasibility study shows potential for a high-grade, low-cost operation with strong project economics, including a NPV of $3.5 billion and 45.9% IRR. The project is backed by a experienced management team with a track record of success in the iron ore industry.
An emerging iron ore company presents details on its Shymanivske and Zelenivske iron ore projects in Ukraine. The projects have a combined NI 43-101 compliant resource of 345 million tonnes measured and indicated at 31.83% iron and 469 million tonnes inferred at 31.05% iron. The projects are located in the established Krivoy Rog iron ore district of Ukraine near existing infrastructure and the large ArcelorMittal iron ore mine, demonstrating the potential for further exploration and development in the region.
This corporate presentation from Black Iron Inc. summarizes their compelling investment opportunity in iron ore in Ukraine. Black Iron owns the large Shymanivske iron ore deposit which has over 645 million tonnes of resources. They have completed a positive feasibility study showing strong economics for a 9.9 million tonne per year operation. Key advantages are access to existing infrastructure for power, rail and port, as well as a skilled local workforce. The project is located near other producers in a major iron ore district. Black Iron believes they have all the fundamentals in place for a successful low cost project and that the deposit has potential for resource expansion.
Black Iron February 2017 Corporate Presentationblackiron
This corporate presentation from Black Iron Inc. summarizes an investment opportunity in their Shymanivske iron ore project located in Ukraine. Key highlights include a bankable feasibility study showing a large resource of over 645 million tonnes, low capital and operating costs, secured infrastructure access, and attractive project economics with an after-tax IRR of 39% and NPV of $2.6 billion. The presentation outlines Black Iron's strategy to finalize project funding through equity investment, debt financing, and off-take agreements to advance the project towards production.
The document is a corporate presentation for Black Iron Inc. (TSX: BKI) outlining an investment opportunity in their Shymanivske iron ore project located in Ukraine. Some key points:
- The project has a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred located near existing infrastructure.
- A 2014 bankable feasibility study showed the project could produce 9.9Mtpa of high-grade 68% Fe concentrate with an NPV of $2.6B and IRR of 39%.
- The project benefits from close access to rail, ports, roads, power and a skilled local workforce in a major iron ore district
This corporate presentation from Black Iron Inc. summarizes an investment opportunity in an iron ore project in Ukraine. Black Iron has completed a positive bankable feasibility study for its flagship Shymanivske iron ore deposit, which shows potential to produce 9.9 million tonnes per year of high-grade iron ore concentrate and pellets with low operating costs. The project benefits from access to existing infrastructure for rail, port and electricity, as well as a skilled local workforce. Black Iron also has the support of Ukraine's largest company, Metinvest, which has committed to financing half of project construction costs and will be a major off-take partner.
This corporate presentation from Black Iron Inc. summarizes an investment opportunity in an iron ore project in Ukraine. Key points include:
- Black Iron has completed a positive bankable feasibility study for its Shymanivske iron ore project in Ukraine, which shows potential for high value, low cost production.
- The project has a large mineral resource, access to key infrastructure like rail and port, and is located near existing producers and markets.
- The presentation highlights the project's economics from the feasibility study, including annual production of 9.9 million tonnes of 68% iron concentrate and attractive financial metrics.
This corporate presentation from Black Iron Inc. outlines an investment opportunity in their Shymanivske iron ore project located in Ukraine. Key highlights include a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred, with potential for expansion. A bankable feasibility study shows the project could produce 9.9Mtpa of high-grade 68% Fe concentrate with low operating costs. Black Iron has strategic local partners in Metinvest, Ukraine's largest mining and steel company, who will provide half the funding for project construction. The project benefits from excellent infrastructure access for transportation of the iron ore product.
This corporate presentation from Black Iron Inc. outlines an investment opportunity in iron ore mining in Ukraine. Key points include:
- Black Iron has a sizable mineral resource at its Shymanivske project in Ukraine, including 646 million tonnes measured and indicated at 32% iron and 188 million tonnes inferred at 30% iron.
- A bankable feasibility study shows potential to produce 9.9 million tonnes per year of 68% iron concentrate with a pre-tax NPV of $3.3 billion and IRR of 48% at a break-even price of $54 per tonne.
- Black Iron has major advantages for the project including access to skilled labor, infrastructure, and development
Black Iron Corporate Presentation January 2014blackiron
This corporate presentation from Black Iron Inc. outlines an investment opportunity in their Shymanivske iron ore project located in Ukraine. Key highlights include a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred, with potential for expansion. A bankable feasibility study shows the project could produce 9.9Mtpa of 68% Fe concentrate with an after-tax IRR of 48% and break even price of $54/t. Black Iron has secured major local partner Metinvest, Ukraine's largest mining and steel company, who will fund half of project construction costs estimated between $250-500M. The project benefits from excellent infrastructure including access to rail, port, roads
This corporate presentation from Black Iron Inc. outlines an investment opportunity in their Shymanivske iron ore project located in Ukraine. Key highlights include a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred, with potential for expansion. A bankable feasibility study shows the project could produce 9.9Mtpa of 68% Fe concentrate with a pre-tax NPV of US$3.3B and IRR of 48% at a cash cost of $54/t. Black Iron has excellent local infrastructure access and a major development partnership with Metinvest, Ukraine's largest mining and steel company. The management team has a proven track record of success in the Canadian and
This document provides an overview of an investment opportunity in Black Iron Inc., an iron ore mining company with projects in Ukraine. It summarizes the company's key assets including its Shymanivske deposit which has over 600 million tons of reserves grading over 30% iron. It also details the positive economics from a feasibility study including annual production of 10 million tons and strong financial metrics. Additionally, it outlines Black Iron's major partnership with Metinvest, Ukraine's largest mining and steel company, which will provide significant financing and off-take for the project.
This document provides an overview of Black Iron Inc.'s Shymanivske iron ore project in Ukraine. Some key points:
- Black Iron has defined a large NI 43-101 compliant iron ore resource at its Shymanivske deposit of 646Mt measured and indicated grading 31.6% Fe and 188Mt inferred grading 30.1% Fe.
- A bankable feasibility study outlines plans to produce 9.9Mtpa of 68% Fe concentrate with a pre-tax NPV of US$3.3B and IRR of 48% at a break even price of $54/t after tax.
- Major development partner Metinvest will invest up to US$
This corporate presentation from Black Iron Inc. outlines an investment opportunity in their Shymanivske iron ore project located in Ukraine. Key highlights include a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred, access to excellent nearby infrastructure including rail, port and electricity, and support from major Ukrainian company Metinvest who has committed to financing half of project construction costs estimated between $250-500M. A bankable feasibility study shows the potential for a low cost, high quality 9.9Mtpa iron ore concentrate operation with a pre-tax NPV of $3.3B and IRR of 48% at a price of $60/tonne. The project
This corporate presentation from Black Iron Inc. outlines an investment opportunity in an iron ore project located in Ukraine. Key points include:
- The project has a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred located near existing producers.
- It has excellent infrastructure access including roads, power, rail, and ports providing access to European and Middle Eastern markets.
- A bankable feasibility study shows potential to produce 9.2Mtpa of high grade 68% Fe concentrate with low operating costs and strong project economics.
- Major development partner Metinvest will provide half of project construction financing and offers offtake agreements and local expertise to de-risk
This corporate presentation from Black Iron Inc. outlines an investment opportunity in an iron ore project located in Ukraine. Key points include:
- The project has a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred located near existing producers.
- It has excellent infrastructure access including roads, power, rail, and ports providing access to European and Middle Eastern markets.
- A bankable feasibility study shows potential to produce 9.2Mtpa of high grade 68% Fe concentrate with low operating costs and strong project economics.
- Major development partner Metinvest will provide half of project construction financing and offers offtake agreements and local expertise to de-risk
1. Tigers Realm Coal presented plans for the development of its Project F coking coal mine in Russia, which has coal resources of 111 Mt and reserves of 16.1 Mt.
2. Project F is planned to be developed in phases, with Phase One targeting 600 ktpa of production using existing infrastructure and Phase Two expanding to 1 Mtpa with additional infrastructure.
3. Financial analysis shows Project F can be a low-cost producer with site operating costs of $41/t for the 1 Mtpa Phase Two and expansion potential beyond that.
This document provides an overview of an iron ore investment opportunity presented by Black Iron Inc. Key points include:
- Black Iron has a large iron ore resource in Ukraine and a bankable feasibility study for its Shymanivske project showing potential for 9.9Mtpa of high-grade concentrate production.
- It has strategic partnerships with Metinvest, Ukraine's largest mining and steel company, for project financing and off-take.
- The project benefits from excellent infrastructure access and a skilled local workforce in the major iron ore region of Kryvyi Rih, Ukraine.
- Black Iron aims to become a low-cost producer and sees potential to expand resources through further exploration.
1. Black Iron is an emerging iron ore company that acquired two projects, Shymanivske and Zelenivske, located in Ukraine's major iron ore district near existing infrastructure.
2. The Shymanivske project has a NI 43-101 compliant resource of 345Mt measured and indicated resource at 31.83% iron and additional 469Mt inferred resource.
3. Black Iron plans to produce 10Mtpa of 65% iron pellets by mid-2015, capitalizing on Ukraine's status as a mining friendly country and the global growth in iron ore demand.
An emerging iron ore company presents details on its Shymanivske Project in Ukraine. The project has a large NI 43-101 compliant iron ore resource of 345Mt measured and indicated at 31.83% iron, and 469Mt inferred at 31.05% iron. The project benefits from proximity to infrastructure and markets, and is located in a major historic iron ore production district. The company aims to produce 10Mtpa of iron ore pellets by 2015-2016.
This document provides an overview of an investment opportunity in Black Iron Inc. (TSX: BKI), an iron ore exploration and development company. Black Iron owns two iron ore properties in Ukraine that contain over 646 million tonnes of measured and indicated resources at 31.6% iron concentration, as well as additional inferred resources. The company has completed a bankable feasibility study showing a 9.2 million tonne high-grade concentrate project with a NPV of $3.5 billion and 45.9% IRR. Black Iron has an experienced management team with a track record of success in the iron ore industry. The project benefits from excellent infrastructure access in Ukraine and potential for resource expansion through further drilling.
- An emerging iron ore company presents its corporate overview and Shymanivske project in Ukraine.
- The Shymanivske project has a large NI 43-101 compliant iron ore resource of 345Mt measured and indicated at 31.83% iron, and additional inferred resources.
- The project is in a major historic iron ore district in Ukraine near infrastructure and markets, and adjacent to a large producing mine owned by ArcelorMittal.
This corporate presentation from Black Iron Inc. outlines an investment opportunity in an iron ore project located in Ukraine. The project has a large NI 43-101 compliant iron ore resource and benefits from excellent infrastructure access, including proximity to markets, skilled labor, rail, ports and surplus electricity. A bankable feasibility study shows potential for a high-grade, low-cost operation with strong project economics, including a NPV of $3.5 billion and 45.9% IRR. The project is backed by a experienced management team with a track record of success in the iron ore industry.
An emerging iron ore company presents details on its Shymanivske and Zelenivske iron ore projects in Ukraine. The projects have a combined NI 43-101 compliant resource of 345 million tonnes measured and indicated at 31.83% iron and 469 million tonnes inferred at 31.05% iron. The projects are located in the established Krivoy Rog iron ore district of Ukraine near existing infrastructure and the large ArcelorMittal iron ore mine, demonstrating the potential for further exploration and development in the region.
This corporate presentation from Black Iron Inc. summarizes their compelling investment opportunity in iron ore in Ukraine. Black Iron owns the large Shymanivske iron ore deposit which has over 645 million tonnes of resources. They have completed a positive feasibility study showing strong economics for a 9.9 million tonne per year operation. Key advantages are access to existing infrastructure for power, rail and port, as well as a skilled local workforce. The project is located near other producers in a major iron ore district. Black Iron believes they have all the fundamentals in place for a successful low cost project and that the deposit has potential for resource expansion.
Black Iron February 2017 Corporate Presentationblackiron
This corporate presentation from Black Iron Inc. summarizes an investment opportunity in their Shymanivske iron ore project located in Ukraine. Key highlights include a bankable feasibility study showing a large resource of over 645 million tonnes, low capital and operating costs, secured infrastructure access, and attractive project economics with an after-tax IRR of 39% and NPV of $2.6 billion. The presentation outlines Black Iron's strategy to finalize project funding through equity investment, debt financing, and off-take agreements to advance the project towards production.
The document is a corporate presentation for Black Iron Inc. (TSX: BKI) outlining an investment opportunity in their Shymanivske iron ore project located in Ukraine. Some key points:
- The project has a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred located near existing infrastructure.
- A 2014 bankable feasibility study showed the project could produce 9.9Mtpa of high-grade 68% Fe concentrate with an NPV of $2.6B and IRR of 39%.
- The project benefits from close access to rail, ports, roads, power and a skilled local workforce in a major iron ore district
This corporate presentation from Black Iron Inc. summarizes an investment opportunity in an iron ore project in Ukraine. Black Iron has completed a positive bankable feasibility study for its flagship Shymanivske iron ore deposit, which shows potential to produce 9.9 million tonnes per year of high-grade iron ore concentrate and pellets with low operating costs. The project benefits from access to existing infrastructure for rail, port and electricity, as well as a skilled local workforce. Black Iron also has the support of Ukraine's largest company, Metinvest, which has committed to financing half of project construction costs and will be a major off-take partner.
This corporate presentation from Black Iron Inc. summarizes an investment opportunity in an iron ore project in Ukraine. Key points include:
- Black Iron has completed a positive bankable feasibility study for its Shymanivske iron ore project in Ukraine, which shows potential for high value, low cost production.
- The project has a large mineral resource, access to key infrastructure like rail and port, and is located near existing producers and markets.
- The presentation highlights the project's economics from the feasibility study, including annual production of 9.9 million tonnes of 68% iron concentrate and attractive financial metrics.
This corporate presentation from Black Iron Inc. outlines an investment opportunity in their Shymanivske iron ore project located in Ukraine. Key highlights include a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred, with potential for expansion. A bankable feasibility study shows the project could produce 9.9Mtpa of high-grade 68% Fe concentrate with low operating costs. Black Iron has strategic local partners in Metinvest, Ukraine's largest mining and steel company, who will provide half the funding for project construction. The project benefits from excellent infrastructure access for transportation of the iron ore product.
This corporate presentation from Black Iron Inc. outlines an investment opportunity in iron ore mining in Ukraine. Key points include:
- Black Iron has a sizable mineral resource at its Shymanivske project in Ukraine, including 646 million tonnes measured and indicated at 32% iron and 188 million tonnes inferred at 30% iron.
- A bankable feasibility study shows potential to produce 9.9 million tonnes per year of 68% iron concentrate with a pre-tax NPV of $3.3 billion and IRR of 48% at a break-even price of $54 per tonne.
- Black Iron has major advantages for the project including access to skilled labor, infrastructure, and development
Black Iron Corporate Presentation January 2014blackiron
This corporate presentation from Black Iron Inc. outlines an investment opportunity in their Shymanivske iron ore project located in Ukraine. Key highlights include a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred, with potential for expansion. A bankable feasibility study shows the project could produce 9.9Mtpa of 68% Fe concentrate with an after-tax IRR of 48% and break even price of $54/t. Black Iron has secured major local partner Metinvest, Ukraine's largest mining and steel company, who will fund half of project construction costs estimated between $250-500M. The project benefits from excellent infrastructure including access to rail, port, roads
This corporate presentation from Black Iron Inc. outlines an investment opportunity in their Shymanivske iron ore project located in Ukraine. Key highlights include a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred, with potential for expansion. A bankable feasibility study shows the project could produce 9.9Mtpa of 68% Fe concentrate with a pre-tax NPV of US$3.3B and IRR of 48% at a cash cost of $54/t. Black Iron has excellent local infrastructure access and a major development partnership with Metinvest, Ukraine's largest mining and steel company. The management team has a proven track record of success in the Canadian and
This document provides an overview of an investment opportunity in Black Iron Inc., an iron ore mining company with projects in Ukraine. It summarizes the company's key assets including its Shymanivske deposit which has over 600 million tons of reserves grading over 30% iron. It also details the positive economics from a feasibility study including annual production of 10 million tons and strong financial metrics. Additionally, it outlines Black Iron's major partnership with Metinvest, Ukraine's largest mining and steel company, which will provide significant financing and off-take for the project.
This document provides an overview of Black Iron Inc.'s Shymanivske iron ore project in Ukraine. Some key points:
- Black Iron has defined a large NI 43-101 compliant iron ore resource at its Shymanivske deposit of 646Mt measured and indicated grading 31.6% Fe and 188Mt inferred grading 30.1% Fe.
- A bankable feasibility study outlines plans to produce 9.9Mtpa of 68% Fe concentrate with a pre-tax NPV of US$3.3B and IRR of 48% at a break even price of $54/t after tax.
- Major development partner Metinvest will invest up to US$
This corporate presentation from Black Iron Inc. outlines an investment opportunity in their Shymanivske iron ore project located in Ukraine. Key highlights include a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred, access to excellent nearby infrastructure including rail, port and electricity, and support from major Ukrainian company Metinvest who has committed to financing half of project construction costs estimated between $250-500M. A bankable feasibility study shows the potential for a low cost, high quality 9.9Mtpa iron ore concentrate operation with a pre-tax NPV of $3.3B and IRR of 48% at a price of $60/tonne. The project
This corporate presentation from Black Iron Inc. outlines an investment opportunity in an iron ore project located in Ukraine. Key points include:
- The project has a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred located near existing producers.
- It has excellent infrastructure access including roads, power, rail, and ports providing access to European and Middle Eastern markets.
- A bankable feasibility study shows potential to produce 9.2Mtpa of high grade 68% Fe concentrate with low operating costs and strong project economics.
- Major development partner Metinvest will provide half of project construction financing and offers offtake agreements and local expertise to de-risk
This corporate presentation from Black Iron Inc. outlines an investment opportunity in an iron ore project located in Ukraine. Key points include:
- The project has a large NI 43-101 compliant iron ore resource of 646Mt measured and indicated and 188Mt inferred located near existing producers.
- It has excellent infrastructure access including roads, power, rail, and ports providing access to European and Middle Eastern markets.
- A bankable feasibility study shows potential to produce 9.2Mtpa of high grade 68% Fe concentrate with low operating costs and strong project economics.
- Major development partner Metinvest will provide half of project construction financing and offers offtake agreements and local expertise to de-risk
1. Tigers Realm Coal presented plans for the development of its Project F coking coal mine in Russia, which has coal resources of 111 Mt and reserves of 16.1 Mt.
2. Project F is planned to be developed in phases, with Phase One targeting 600 ktpa of production using existing infrastructure and Phase Two expanding to 1 Mtpa with additional infrastructure.
3. Financial analysis shows Project F can be a low-cost producer with site operating costs of $41/t for the 1 Mtpa Phase Two and expansion potential beyond that.
This document provides an overview of an iron ore investment opportunity presented by Black Iron Inc. Key points include:
- Black Iron has a large iron ore resource in Ukraine and a bankable feasibility study for its Shymanivske project showing potential for 9.9Mtpa of high-grade concentrate production.
- It has strategic partnerships with Metinvest, Ukraine's largest mining and steel company, for project financing and off-take.
- The project benefits from excellent infrastructure access and a skilled local workforce in the major iron ore region of Kryvyi Rih, Ukraine.
- Black Iron aims to become a low-cost producer and sees potential to expand resources through further exploration.
1. Black Iron is an emerging iron ore company that acquired two projects, Shymanivske and Zelenivske, located in Ukraine's major iron ore district near existing infrastructure.
2. The Shymanivske project has a NI 43-101 compliant resource of 345Mt measured and indicated resource at 31.83% iron and additional 469Mt inferred resource.
3. Black Iron plans to produce 10Mtpa of 65% iron pellets by mid-2015, capitalizing on Ukraine's status as a mining friendly country and the global growth in iron ore demand.
This presentation provides an overview of an investment opportunity in Black Iron Inc., an iron ore exploration and development company. Black Iron holds two iron ore properties in Ukraine with a large NI 43-101 compliant resource estimate. The properties have potential for resource expansion and are located near existing infrastructure including roads, rail, ports and steel mills which are key advantages for project development and access to target markets in Europe and Asia. A feasibility study is underway to advance the project and evaluate conventional processing methods to produce high quality iron ore products.
This presentation provides an overview of an investment opportunity in an iron ore development company. It describes the company's large, high-quality iron ore deposits located near infrastructure in Ukraine. Studies show the project has compelling economics, with an after-tax NPV over $3 billion and IRR over 35% based on preliminary economic assessments. The management team has experience creating value at other resource companies. The company currently trades on the TSX and has a sound capital structure with over 140 million shares outstanding and low debt.
This document provides an overview of an investment opportunity in Black Iron Inc., an iron ore mining company with a project in Ukraine. Key points include:
- Black Iron has completed a positive feasibility study for its Shymanivske project in Ukraine, outlining a 9.9M tonne per year operation with attractive economics.
- The project benefits from excellent existing infrastructure access for rail, port and power, as well as a skilled local workforce.
- Metinvest, Ukraine's largest mining and steel company, has agreed to provide up to 50% of project financing.
- Black Iron has secured key permits and land use rights, and its management team has extensive experience developing iron ore projects.
This presentation provides an overview of an investment opportunity in Black Iron Inc., an iron ore development company with properties in Ukraine. Black Iron has a large, high-quality iron ore deposit with over 800 million tonnes of measured, indicated and inferred resources. The project benefits from excellent infrastructure access and proximity to markets. Black Iron is led by an experienced management team with a track record of success in the iron ore industry. The project has compelling economics and an attractive valuation that represents substantial upside for investors.
This presentation provides an overview of Black Iron Inc., a company developing an iron ore project in Ukraine. Key points include:
- Black Iron has significant infrastructure advantages for its Ukrainian project, including access to power, rail, port, and a skilled local workforce.
- A bankable feasibility study showed the project could produce 9.9 million tonnes per year of iron ore concentrate, with an after-tax NPV of $2.6 billion and IRR of 39% at an after-tax break even price of $54 per tonne.
- The project has a large NI 43-101 compliant mineral resource of 646 million tonnes measured and indicated at 32% Fe, and 188 million
This corporate presentation from Black Iron Inc. summarizes an investment opportunity in an iron ore project in Ukraine. Black Iron has secured key infrastructure access through letters of intent for electricity, natural gas, rail transport, and port access. It has a large iron ore resource at its flagship Shymanivske project, located near existing producers. A bankable feasibility study shows the project could produce 9.9 million tonnes of iron ore concentrate annually with attractive economics. Black Iron believes the project benefits from Ukraine's skilled workforce and proximity to European and Asian markets.
This corporate presentation from Black Iron Inc. outlines an investment opportunity in an iron ore project located in Ukraine. Key points include:
- Black Iron's flagship Shymanivske project has large mineral resources, positive feasibility study economics, and access to existing infrastructure for rail, port and utilities.
- The project benefits from proximity to markets in Europe and Asia and a location in a major iron ore district of Ukraine.
- Black Iron has the required permits and is advancing the project, highlighting potential for resource expansion and low development risks relative to other geographies.
- Ukraine provides a mining-friendly jurisdiction with potential for closer European integration and a skilled workforce for the industry.
- An emerging iron ore company presents its corporate overview, highlighting its Shymanivske iron ore project located in Ukraine which hosts a large NI 43-101 compliant resource.
- The project is in a major historic iron ore producing district surrounded by other operating mines, with good existing infrastructure.
- The company aims to advance the project through further exploration and studies to production by 2015-2016, targeting the growing global demand for iron ore.
This corporate presentation from Black Iron Inc. outlines an investment opportunity in an iron ore project in Ukraine. Key points include:
- Black Iron has secured infrastructure access including rail, port capacity, electricity, and a skilled local workforce, which are two of the most challenging risks for iron ore project development.
- A bankable feasibility study shows the Shymanivske project could produce 9.9 million tonnes per year of high-grade iron ore concentrate with an after-tax NPV of $2.6 billion and IRR of 39%.
- The project has a large NI 43-101 compliant resource of 646 million tonnes measured and indicated and 188 million tonnes inferred, and potential
This document provides an overview of an investment opportunity in Black Iron Inc. (TSX: BKI), an iron ore exploration and development company. Black Iron is developing the Shymanivske iron ore project in Ukraine which has over 646 million tonnes of iron ore resources. A bankable feasibility study shows the project could produce 9.9 million tonnes per year of high-grade iron ore concentrate with strong economics, including an IRR of 48%. Black Iron has key advantages for the project including access to skilled labor, infrastructure, and partnerships with local companies. It is positioned to become a leading supplier of iron ore to European and global steel markets.
This corporate presentation from Black Iron Inc. summarizes an investment opportunity in the company's iron ore projects in Ukraine. Black Iron has two projects, Shymanivske and Zelenivske, that have a large NI 43-101 compliant resource of over 600 million tons at 32% iron content. A bankable feasibility study showed the Shymanivske project could produce 9.2 million tons of iron concentrate annually with a NPV of $3.5 billion and IRR of 45.9%. The projects are located near existing iron ore mines and infrastructure in Ukraine. Black Iron believes it has advantages over other iron ore developments due to the projects' access to skilled labor, infrastructure, and proximity to markets in
Corporate Presentation - September 1, 2013blackiron
This corporate presentation from Black Iron Inc. outlines an investment opportunity in their Shymanivske iron ore project in Ukraine. Key points include:
- Black Iron has completed a positive bankable feasibility study for their Shymanivske project showing potential to produce 9.2 million tonnes per year of high-grade iron ore concentrate with strong economics.
- The project benefits from excellent local infrastructure and a skilled workforce in Ukraine. Major development partner Metinvest will fund up to $535 million for project construction.
- Black Iron has a large mineral resource at their project and additional exploration potential. Management has successful experience developing other large iron ore mines.
- The company currently has over $4 million
Corporate Presentation - September 1, 2013blackiron
Black Iron is developing the Shymanivske iron ore project in Ukraine. It has completed a bankable feasibility study showing potential production of 9.2 million tonnes per year of 68% Fe concentrate with a pre-tax NPV of $3.5 billion and IRR of 45.9%. The project benefits from excellent infrastructure including access to rail, ports, power and a skilled workforce. Black Iron has also secured a major development partner in Metinvest, Ukraine's largest mining and steel company. The project has a large NI 43-101 compliant resource of 646 million tonnes measured and indicated and additional exploration potential.
1. A Compelling Iron Ore Investment Opportunity
Corporate Presentation
November 2012
TSX: BKI
2. Disclaimer
Forward Looking Statement
TSX: BKI
This Presentation contains ‘‘forward-looking information’’ which may include, but is not limited to, statements with respect to the future financial or operating performance of the
Company and its subsidiaries (collectively, the ‘‘Company’’) and its mineral projects; the future prices of metals; the anticipated results of exploration activities; the estimation of mineral
resources; the realization of mineral resource estimates; capital, development, operating and exploration expenditures; costs and timing of the development of the Company’s mineral
properties; timing of future exploration; requirements for additional capital; government regulation of mining operations; anticipated results of economic and technical studies;
environmental matters; reclamation expenses; title disputes or claims; limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters.
Often, but not always, forward-looking information can be identified by the use of words and phrases such as ‘‘plans’’, ‘‘expects’’, ‘‘is expected’’, ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’,
‘‘forecasts’’, ‘‘intends’’, ‘‘anticipates’’, or ‘‘believes’’ or variations (including negative 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 based on the opinions and estimates of management as of the date such statements are made and is based on information currently available to management
and upon what management believes to be reasonable assumptions, including, among others, that general business, economic, competitive, political and social uncertainties remain
favorable; that actual results of exploration activities justify further studies and development of the Company’s mineral projects; that the future prices of metals, and iron ore in particular,
remain at levels that justify the exploration and future development and operation of the Company’s mineral projects; that ore body quality and characteristics remain as anticipated; that
there is no failure of plant, equipment or processes to operate as anticipated; that accidents, labour disputes and other risks of the mining industry do not occur; that the jurisdictions in
which the Company operates remain politically stable; that there are no unanticipated delays in obtaining governmental approvals or financing or in the completion of future studies,
development or construction activities; that the actual costs of exploration, and studies remain within budgeted amounts; that regulatory and legal requirements required for exploration or
development activities do not change in any adverse manner, as well as those factors discussed in the section entitled ‘‘Risk Factors’’ in this Final Prospectus of the Company dated March
16, 2011 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 involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the Company has attempted to identify
important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause such
actions, events or results to differ from those anticipated, estimated or intended. Any inaccuracy in the assumptions identified above may also cause actual actions, events or results to
differ materially from those described in the forward-looking information.
Forward-looking information contained herein is made as of the date of this Presentation and the Company disclaims any obligation to update any forward-looking information, whether as a
result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that such forward-looking information will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, potential investors should not place undue
reliance on forward-looking information.
This Presentation does not constitute an offer to sell, or solicitation of an offer to buy, any securities by any person in any jurisdiction in which it is unlawful for such person to make such an
offering or solicitation. No representation or warranty, express or implied, is made as to the accuracy or completeness of the information set out herein, and nothing contained herein is, or
shall be relied upon, as a promise or representation, whether as to the past or future.
*Resource estimate compiled using historic Soviet data by Hugues de Corta, who is an independent qualified person as defined by NI 43-101. Readers should not place undue reliance on historical estimates.
*The mineral resource estimate for the Shymanivske Project is based on results from 185 historical drill holes totaling 37,316 meters and 60 Black Iron drill holes, which were drilled during the Company’s Twin Hole drill
program and the Definition Drill program, totaling 16,518 meters and is effective as of September 2012. Watts, Griffis and McOuat Limted (“WGM”), Consulting Geologists and Engineers of Toronto, Canada, was
retained to audit an in-house mineral resource estimate completed by Black Iron. Mr. Michael Kociumbas, P.Geo, Vice-President of WGM and Mr. Richard Risto, P.Geo, Senior Geological Associate of WGM, were retained
by Black Iron as independent technical consultants and are Qualified Persons as defined by NI 43-101 and are responsible for reviewing and approving this mineral resource estimate.
*Matt Simpson President & CEO, Black Iron is a Qualified Persons as defined by NI has reviewed and approved the scientific and technical information in this presentation.
2
3. What Sets Black Iron Apart?
Access to Skilled Labour & Infrastructure –
Two of the Most Challenging Iron Ore Project Development Risks
TSX: BKI
Key Development Risks
Taxes/Royalties
Human Resources
Canada Ukraine Access to Infrastructure
Community Opposition
Licensing/Permitting
Access to Water
Africa
Electricity Supply
Brazil
Australia
3 3
4. 5 Fundamentals for Iron Ore Success
A High-Quality Iron Ore Development Opportunity
TSX: BKI
Good access to skilled labour, power, rail & ports
Exceptional • 35km from city of Kryviy Rih (pop. 750k); paved road to site
Infrastructure • 2 km from state-owned rail and power lines with surplus capacity & five
deep water ports accessible by rail (140-515km)
Large iron ore deposit with NI 43-101 compliant resource*
• Two properties held – Shymanivske & Zelenivske
Sizable • Shymanivske – 646 Mt Measured & Indicated resource @ 31.6% iron;
Resource additional 188 Mt of Inferred resource @ 30.1% iron, which will be
concentrated to ~68% iron
• Potential for resource expansion by further drilling of both deposits
Project located in Kryviy Rih, Ukraine; one of the world’s major iron
Close to ore districts
Target Markets • Close to target markets: W.Europe, Turkey, Russia, Asia and Middle East
• Surrounded by 7 other operating iron ore mines
Compelling High margins due to close proximity to multiple steel mills, relative
Economics labour cost advantage and favourable corporate tax rate of 16%
• PEA for 7.3Mt Pellet Plant Feed – NPV of US$3.0 billion and 42.1% IRR
• PEA for 7.6Mt Pellet – NPV of US$4.1 billion and IRR of 35.2%
Skilled Experienced management team with history of creating value for
Management shareholders of Consolidated Thompson, RioTinto and Ferrexpo
4 4
* Please see note on Page 2
5. Project Backed by Forbes & Manhattan
Success with Consolidated Thompson’s Bloom Lake Iron Mine
TSX: BKI
• World class 8Mtpa iron ore concentrate
Forbes & Manhattan Involvement
mine in Quebec
• Advanced from exploration stage
through development to construction Recently
acquired
− 8 mtpa capacity (66% Fe concentrate) for $4.9
expanding to 16 mtpa billion
− Completed scoping study, 3 feasibility
First F&M
studies, secured off-take with China’s involvement
third largest steel producer (WISCO)
$1 mm
• Raised over Cdn$1 bn in capital market
cap
• Attracted and put in place a qualified
management team 2005 Today
5
6. A Track Record of Iron Ore Success
with Consolidated Thompson Iron Mines, Rio Tinto’s Iron Ore Company
of Canada, and Ferrexpo
TSX: BKI
Key Management Board of Directors
Matt Simpson – President & CEO Bruce Humphrey – Chairman
• Former General Manager, Mining for Rio Tinto’s • Former Chairman of Consolidated Thompson Iron
Iron Ore Company of Canada Mines
• Worked for Hatch designing global metallurgical Jaroslav Kinach
refineries
• Former Advisor to Ukraine Prime Minister and former
George Mover – COO Ukraine Country Head of EBRD
• Former Project General Director of Ferrexpo Chris Westdal
Yeristovo Mining, Ukraine
• Canadian Ambassador to Ukraine (1996-98) and to
Paul Bozoki – CFO Russia (2003-06)
• Former CFO of CD Capital Partners, operating Pierre Pettigrew
in Soviet Union & Ukraine
• Distinguished career as a Canadian Federal Cabinet
Igor Buchatskiy – VP Strategy Minister
• Former GM, International Business John Detmold
Development, ArcelorMittal S.A.
• Chairman & Founder of Invescture Group, S.A. de C.V.
Aaron Wolfe – VP Corp Development
Dave Porter
• Former investment banker with Macquarie
• Former VP for Rio Tinto’s Iron Ore Company of Canada
Matt Simpson – President & CEO of Black Iron 6
7. Sound Capital Structure
Attractive Valuation with substantial upside
TSX: BKI
Capital Structure Historical Share Price
$0.90
Shares Outstanding 141.0 million $0.80
(1) $0.70
Warrants 1.7 million $0.60
(2) $0.50
Stock Options 8.5 million $0.40
$0.30
Fully Diluted Shares 151.2 million $0.20
$0.10
Market Cap(4) ~US$25 million $0.00
Sep-12
Oct-11
Feb-12
Apr-12
May-12
Aug-12
Oct-12
Nov-11
Dec-11
Jan-12
Mar-12
Jun-12
Jul-12
Current Cash Balance ~US$11.7 million
Debt Balance nil
Analyst Coverage
1. 1,653,312 warrants exercisable at $1.40 per share (IPO financing).
Maxim Sytchev Daniel Greenspan
2. 5,481,250 options exercisable at $1.40 per share; 2,342,500 options
exercisable at $0.54 per share; 400,000 options exercisable at $0.49
per share; 260,000 options exercisable at $0.30 per share .
3. As at October 31, 2012, using a closing price of CAD 0.18 per share. Cliff Hale-Sanders Robin Kozar
John Hughes Matthew McDonald
David Talbot Craig Miller
Ivan Dzvinka 7
8. Deposits In Mining Friendly Region
Adjacent to existing Iron Ore Producers
TSX: BKI
ArcelorMittal’s Kryviy Rih
Iron Ore Complex • Two mining and exploration permits
Black Iron’s covering 5.92 km2
Shymanivske Project − Mining permit at Shymanivske, which
M&I: 646Mt @ 31.6% has been extensively explored, covering
Inferred: 188Mt @ 30.1% 2.56 km2 valid until 2024
− Exploration permit at Zelenivske
covering 3.36 km2 valid until 2014
Railway lines
• Adjacent to ArcelorMittal’s Kryviy Rih
iron ore complex and Smart & Evraz’s
Black Iron’s YuGOK iron ore mine
Zelenivske • Plan to acquire a plot of land from
Smart & Evraz’s
Project Ukraine Government adjacent to the
YuGOK Iron Ore Mine
Shymanivske deposit for project
waste dumps, concentrator and
tailings
8
9. Large Ore Deposit with Growth Potential
TSX: BKI
• Banded iron formation consisting primarily of
magnetite with some hematite
− Iron band thickness ranges from 40-80 m
− Only 9.7-21.2 m of overburden
− Very clean ore body low in phosphorus,
manganese and aluminum
• The resource is defined by ~37,000 metres
of historical drilling
― Black Iron recently completed 12,000 meters of
twin hole drilling
― Total iron grade and band width align very well
Shymanivske Tonnage Fe Tot Fe Mag with historical data
Resource* (Mt) (%) (%)
• Potential for total combined resource
Measured 355.1 32.0 19.5 expansion of 1.1 to 1.8BT
Indicated 290.7 31.1 17.9 − Additional drilling of Shymanivske at North end
of deposit and to depth
Total Measured
645.8 31.6 18.8 − Exploration of the Zelenivske project
and Indicated
Inferred 188.3 30.1 18.4
Tonnage and grade rounded to first decimals. Cut-off grade of 10% Fe Mag * Please see note on page 2 9
10. Potential Resource Extension at Shymanivske
Ground Gravity Shows Iron Ore Mineralization at North End
TSX: BKI
Potential resource • Ground gravity and magnetic surveys
upside to be drilled show potential extension of iron ore
mineralization at North end of property as
circled in red
Property • This area has not been included in the NI
boundary 43-101 resource as it has not yet been
Very likely sufficiently drilled
Iron in ground
• The identified area will be a target of a
future drill program
Likely just
dirt in ground
Drill hole
10
11. Extensive Pit Shell Design and 3D Model
Completed
TSX: BKI
Significant Portion of the Resource Falls within Black Iron’s 3D Model Developed as Part of the
the Economic Pit Shell Feasibility Study
11
12. Conventional Flowsheet (simplified)
Producing High Quality Iron Ore Products
TSX: BKI
Drill Blast Load & Haul Crush
Vertical Mill Ball Mill (x2) HPGR Magnetic Separator
Sulphur Floatation Concentrate Pellet Plant (optional)
Fe 68.0% Pellets
SiO2 4.5% Fe 65.0%
P 0.02% SiO2 4.13%
S 0.05% P 0.025%
Al2O3 0.43% S 0.01%
Mn 0.03% Mn 0.15%
P80 32 µm 12
13. Feasibility Study On Track for Q4 Completion
Layouts finalized as shown below
TSX: BKI
Rail Loop
Primary Crusher
Beneficiation Plant
Cobbing Building
Secondary Crushing
Building
Secondary Crushing
Building
13
14. Excellent Infrastructure
Key to a Successful Iron Ore Project
TSX: BKI
• Paved roads to site, located 35km away from the
major city of Kryviy Rih which has a skilled work force
• Surplus electricity readily accessible from high voltage
power lines that run beside property
• ~2 km from main state-owned rail line
• Confirmation in July 2010 from Ukrainian Government
that there is sufficient capacity to haul at least an
additional 20 million tonnes of iron ore per annum
• 5 deep water ports accessible by rail with iron ore
facilities available
• Preferred port option is Yuzhny located ~390 km away
and providing access to the Black Sea and global
seaborne iron ore markets
14
15. Strategic Global Location
Close Proximity to Target Markets with Abundant Port and Rail Access
TSX: BKI
• Project is surrounded by steel mills in Europe, Turkey
and the Middle East
• River barge & rail access to Western Europe.
• Five dry bulk tonnage ports accessible using railway
running beside properties
• Approx 20% to 25% shorter transport distance to
growth markets of India and China compared to
North and South American producers Major Rail Line
• Excellent Ukrainian logistical
advantages
• Densely populated
roadway infrastructure
• 468 million tonnes of
cargo transported via rail
• 155 million tonnes of
cargo transported via ship 15
16. Ukraine: A Mining Friendly Country
Strong Local and National Support
TSX: BKI
• Politically stable Democratic republic
― Following Presidential elections in 2012,
country is currently united with a President and
Prime Minister from the same Political Party
― S&P Sovereign Risk of B+
• Economy dominated by commodities
― Steel production is Ukraine’s largest industry
― 60% of Ukraine’s total exports are commodity-
related (the majority of which is steel)
• Strong economic growth
− Growth driven by US$15.2B IMF stabilization
program and strong commodity prices
− GDP growth of 4.2% in 2010; 5.2% in 2011;
• Mining friendly jurisdiction with strong local and
2012 forecast to be 6.5% growth
national support
• Ongoing negotiations to sign the drafted
― ArcelorMittal and Ferrexpo plc have operated
“Association Agreement” with the European Union
in-country for over 5 years
• Potential key member of the Russia proposed
• Legislated corporate tax rate reductions from 21%
Eurasian Trade Union
in 2012 to 16% in 2014
• Large, highly skilled labour force (pop. 45.4 million)
• Favourable mining royalties of $0.40 per tonne of
− GDP per capita only $6700/yr ore mined (~2%) to the Government 16
17. Globally Significant Iron Ore District
Ukraine: 6th largest iron ore producer & 4th largest reserve base
TSX: BKI
• Black Iron’s projects are located in the heart of Ukraine’s
2010E Iron Ore Production iron ore belt
1000 900 – 35km from city of 750,000 people
800
– 98% of Ukraine population has completed a secondary
education or higher
Only 3% of world production
600 • Iron ore district trends 300 km with sedimentary rock hosted
420
Iron Ore (mt)
400
370 banded iron formations (Dnenpovskog complex)
260
• Historically well explored resource base but substantially
200 100 72 55 49
under-exploited due to historic Soviet policy
35 25
0
• 15 iron ore mines in Ukraine produced 72 million tonnes in
2010
Sweden
Russia
United States
Canada
India
China
Ukraine
Australia
Brazil
South Africa
• Ukraine has 28.5 million tonnes or 18% of the world’s Iron
Ore supply
Global Distribution of Fe Reserves
Tarnavatskoye
Kirovograd
United States Rest of World Liponevsky Poltavsky GOK
Sweden 3% 20%
3% Novokonstantinovsky Yeristovskoye
India Russia
16% Tsentralny Safonovskoye
5% Kryviy Rih Iron Ore Complex
Shymanivske
China
Ordzhonikize Gok
8% Zelenivske
Ingulestky GOK
Kryviv Rih
Yuzhny GOK
Brazil Australia Kuksunurskoye
18% 17%
Ukraine
10%
Source: USGS 2011 Iron Ore report and Metal Economics Group 17
18. Permit Process for Shymanivske Deposit
Black Iron Remains on Track
TSX: BKI
Exploration Extraction Mining Land Construction Operations
Permit Permit Allotment Allotment Approval Approval
Explore Deem deposit Pit shell reserves Obtain surface Start mine Operate mine &
resource economical & environmental rights for mine, overburden refinery
potential impact Gov refinery & removal & plant
approval tailings construction
• Conduct • Complete • Complete field • Detailed design • Ensure
geophysical Ukraine version environmental • Land use analysis approved compliance with
program of scoping study (OVOS) & based on plot (Expertisa) Ukraine Safety,
including archeological plan showing Environment,
• Drill ore body evaluation of studies for Gov major buildings & • Obtaining the Health and
various mining approval agreed construction Employment
• State approval methods & high connections to permit laws as check by
of explored level • Submit pit shell utilities, rail and regular Gov
deposit environmental design & roads (Proekt) • Commissioning inspections
impact mapped ground of the facility
surface project • Approval of the • Finalize
for Gov. approval project location • Registration of environmental
the ownership to permits
• Approval from all the facility
land owners &
finalize lease
Completed
18
19. Shymanivske PEA Highlights
High Value, Low Net Cost Iron Ore Development Project
TSX: BKI
Production Case: Pellet Plant Feed Pellet
Annual Production: 7.3 Mt 7.6 Mt
Iron Content: 67.0% 65.0%
Estimated Capital Investment: US$896.0 million US$1,571.3 million
Estimated Operating Expenses:
(life of mine) US$51.21/t US$63.00/t
(avg ex. leasing costs years 8-20) US$48.22/t US$60.11/t
Net Present Value (8%): US$3.0 billion US$4.1 billion
IRR: 42.1% 35.2%
Annual Average Cash Flow: US$382.8 million US$540.7 million
Projected Payback (8%): 2.2 years 2.9 years
Estimated Mine Life: 28 years 28 years
Proj. Revenue Commencement Q4 2015 Q4 2015
OPPORTUNITIES EXIST TO FURTHER IMPROVE ALREADY FAVOURABLE ECONOMICS
19
20. Vale (Shimandou 1)
African Minerals (phase2)
Xstrata (Askaf)
84 87 90 92
African Minerals (DSO)
ArcelorMittal (Western…
Fortescue (Expansion)
109 109
Rio Tinto (IOC)
Black Iron
Alderon
122 123 124
Sundance
Kumba
Ferrexpo (Yeristovo)
Source: Company data; Renaissance Capital estimates
IRC (Kuranakh)
134 135 141 142
London Mining
IRC (K&S)
Auila (Hardey)
Xstrata (Zanaga)
157 159 160 167
Atlas Iron (Ridley)
CAPEX Forecast
(US$/t of capacity)
Rio Tinto (Pilbara)
Average = 161
Shymanivske Relative to Other Iron Ore Projects
Gindalbie (Karara)
Anglo Merican (Minas Rio)
BHP (RGP5&6)
180 186 188 189 190
Black Iron’s Capital Cost Advantage
Aquila (West Pilbara)
ArcelorMittal (Western…
192 200
BHP (Samarco)
Atlas Iron (Balla Balla)
211 217
CITIC Pacific (Sino)
Baffinland
221 222
Xstrata (Geulb el Aouj)
236
Grange Resources…
258
TSX: BKI
20
21. Black Iron Compares Favourably
Black Iron to Other Iron Ore Developers
TSX: BKI
Pre-Tax & Royalty NPV8 Tax Regime Post-Tax & Royalty NPV8
30%
(US$ billions) (US$ billions)
+30%1
7.3 39%2 4.9
2.5
3.0 3.1 3.3 3.4 1.8 1.8 2.1
1.5 29% 1.0
0.3 0.5 1.1 0.1 0.3 0.6
26%
Northland
Northland
Black Iron
Alderon
Alderon
Black Iron
Macarthur
Centaurus
Iron Road
Macarthur
Centaurus
Iron Road
Gindalbie
Gindalbie
Brockman
Brockman
Millenium
Millenium
New
New
16%
Pre-Tax & Royalty IRR Royalties Post-Tax & Royalty IRR
(%) 5%
(%)
35.4
38.0 40.2 42.1 27.1
32.0 35.0 2% 18.9 20.5 22.7
25.0 16.9
5-8%
Millenium
Millenium
Northland
Northland
Alderon
Black Iron
Alderon
Black Iron
Gindalbie
Gindalbie
Brockman
Brockman
n/a
New
New
2%
Source: Company data; Press Release; Research Estimates
Disclaimer: Post-tax and royalty graphs are for illustrative purposes only using simple math. These numbers have not been reported, nor are they 21
substantiated by a financial model. 1 Super-Profits tax >A$75 million profit. 2 Includes Brazil mining tax of $4 / tonne of iron ore
22. Black Iron Continues to Deliver
Shymanivske Project Development Timeline
TSX: BKI
2011 2012 Future
H1 H2 H1 H2
Drill metallurgical holes
Scoping Study/PEA
Definition Drilling
Definitive Feasibility Study
Exploration Drilling
Environmental Studies
Permitting
Detailed Engineering
Construction
Production
22
23. 5 Fundamentals for Iron Ore Success
A High-Quality Iron Ore Development Opportunity
TSX: BKI
Good access to skilled labour, power, rail & ports
Exceptional • 35km from city of Kryviy Rih (pop. 750k); paved road to site
Infrastructure • 2 km from state-owned rail and power lines with surplus capacity & five
deep water ports accessible by rail (140-515km)
Large iron ore deposit with NI 43-101 compliant resource*
• Two properties held – Shymanivske & Zelenivske
Sizable • Shymanivske - 646 Mt Measured & Indicated resource @ 31.6% iron;
Resource additional 188 Mt of Inferred resource @ 30.1% iron, which will be
concentrated to ~68% iron
• Potential for resource expansion by further drilling of both deposits
Project located in Kryviy Rih, Ukraine; one of the world’s major iron
Close to ore districts
Target Markets • Close to target markets: W.Europe, Turkey, Russia, Asia and Middle East
• Surrounded by 7 other operating iron ore mines
Compelling High margins due to close proximity to multiple steel mills, relative
Economics labour cost advantage and favourable corporate tax rate of 16%
• PEA for 7.3Mt Pellet Plant Feed – NPV of US$3.0 billion and 42.1% IRR
• PEA for 7.6Mt Pellet – NPV of US$4.1 billion and IRR of 35.2%
Skilled Experienced management team with history of creating value for
Management shareholders of Consolidated Thompson, RioTinto and Ferrexpo
* Please see note on Page 2 23
23
24. CONTACT INFORMATION
65 Queen Street West
Suite 805, P.O. Box 71
Toronto, Ontario, Canada
M5H 2M5
www.blackiron.com
Investor Relations
Toronto: +1 (416) 309-2950
London: +44 (0) 207 466 5000
Ukraine: +380 (67) 619-0454
info@blackiron.com
TSX: BKI