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 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.
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'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.
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 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.
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'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.
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.
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
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.
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
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
- 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 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
- 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 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.
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 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.
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.
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. 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.
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.
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
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.
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, 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 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 $54/t after tax.
- Major development partner Metinvest will invest up to US$
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.
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
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.
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
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
- 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 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
- 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 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.
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 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.
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.
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. 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.
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.
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
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.
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, 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 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 $54/t after tax.
- Major development partner Metinvest will invest up to US$
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.
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 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.
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:
- 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 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 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 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 document provides an overview of an investment opportunity in Black Iron Inc., an iron ore exploration and development company. Some key points:
- Black Iron is developing the Shymanivske iron ore deposit in Ukraine which has over 600 million tonnes of resources. A feasibility study shows the potential for a 9.9 million tonne per year operation with strong economics.
- The project benefits from excellent infrastructure access, including secured rail capacity, port access, and a letter of intent for power. It is located near other producers in a major iron ore district.
- A development agreement is in place with Metinvest, Ukraine's largest steel and mining company, which will fund half of project construction costs estimated at
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 an investment opportunity in Black Iron Inc., an iron ore exploration and development company. Black Iron is developing the Shymanivske iron ore project located in Ukraine. Key highlights include:
- The Shymanivske project has a large NI 43-101 compliant resource of 646 million tonnes measured and indicated at 31.6% Fe and 188 million tonnes inferred at 30.1% Fe.
- A bankable feasibility study shows the potential for a 9.2 million tonne per annum iron ore concentrate operation with strong economics, including a pre-tax NPV of $3.5 billion and IRR of 45.9%.
- The
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
1. A Compelling Iron Ore Investment Opportunity
Corporate Presentation
December 2012
TSX: BKI
2. Disclaimer
Forward Looking Statement
TSX: BKI
This Presentation contains ‘‘forward-looking information’’ within the meaning of applicable Canadian securities legislation. 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, 2011 (and dated March 26, 2012) 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 results of the Feasibility Study (as defined below) and the mineral reserve and resource estimate, the future financial or operating performance of the Company,
its subsidiaries and its projects, the development of and the anticipated timing with respect to the Shymanivske project, the ability to obtain financing; and the impact of concerns relating
to permitting, regulation, governmental and local community relations. 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". Estimates underlying the results of the Feasibility Study
arise from engineering, geological and costing work of WorleyParsons Canada Services Ltd. (“WorleyParsons”), Watts, Griffis and McOuat Limited (“WGM”), Consulting Geologists and
Engineers of Toronto, P&E Mining Consultants Inc. (“P&E”) and the Company. See the technical report relating to the feasibility study for a description of all relevant estimates, assumptions
and parameters. 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 Company. 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 looking information. The
Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
Bankable Feasibility Study (the “Feasibility Study”) – For additional information, please see the Company’s press release dated November 15, 2012.
*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. The Feasibility Study was prepared in accordance with the guidelines of National Instrument 43-
101 by the independent firms of WorleyParsons Canada Services Ltd., Watts, Griffis and McOuat Limited and P&E Mining Consultants Inc.
*Matt Simpson President & CEO of Black Iron, a Qualified Person as defined by NI-43-101, 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%
• Bankable Feasibility Study for 9.2Mt of high-grade 68% iron ore
concentrate – NPV of US$3.5billion and 45.9% IRR
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 Q1-2011
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 Iron • Former Chairman of Consolidated Thompson Iron
Ore Company of Canada Mines
• Worked for Hatch designing global metallurgical Jaroslav Kinach
refineries
• Former Advisor to Ukraine Prime Minister and
George Mover – COO former Ukraine Country Head of EBRD
• Former Project General Director of Ferrexpo Yeristovo Chris Westdal
Mining, Ukraine
• Canadian Ambassador to Ukraine (1996-98) and to
Paul Bozoki – CFO Russia (2003-06)
• Former CFO of CD Capital Partners, operating in Soviet Pierre Pettigrew
Union & Ukraine
• Distinguished career as a Canadian Federal
Igor Buchatskiy – VP Strategy Cabinet Minister
• Former GM, International Business Development,
John Detmold
ArcelorMittal S.A.
• Chairman & Founder of Invescture Group, S.A. de
Aaron Wolfe – VP Corp Development
C.V.
• Former investment banker with Macquarie
Dave Porter
Nikolay Bayrak – VP Gov’t & Community Relations
• Former VP for Rio Tinto’s Iron Ore Company of
• Former department head, Ukrainian Ministry & Canada
Currently President of MP’s Parliament Club
Matt Simpson – President & CEO 6
Mike McAllister – Manager Investor Relations
7. Sound Capital Structure
Attractive Valuation with substantial upside
TSX: BKI
Capital Structure Historical Share Price
$0.80
Shares Outstanding 141.0 million $0.70
(1) $0.60
Warrants 1.7 million
$0.50
(2)
Stock Options 8.5 million $0.40
$0.30
Fully Diluted Shares 151.2 million $0.20
$0.10
Market Cap(4) ~US$46.1 million $0.00
13-May-12
13-Jan-12
13-Jun-12
13-Jul-12
13-Aug-12
13-Oct-12
13-Nov-12
13-Feb-12
13-Mar-12
13-Dec-11
13-Apr-12
13-Sep-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 Nov 28, 2012, using a closing price of CAD 0.33 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
Property Overview Concentrator Layout
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. 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
13
14. 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 14
15. Ukraine: A Mining Friendly Country
Strong Local and National Support
TSX: BKI
• Politically stable Democratic republic
― Presidential reelected in Oct. 2012 for a further
five year term
― S&P Sovereign Risk rating of B+
• Economy dominated by agriculture & 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
− GDP growth of 4.2% in 2010; 5.2% in 2011;
2012 forecast to be 6.5% growth
− Member of WTO
− Ongoing negotiations to sign “Association • Mining friendly jurisdiction with strong local and
Agreement” with European Union national support
− Potential key member of the Russia proposed ― ArcelorMittal and Ferrexpo plc have operated
Eurasian Trade Union in-country for over 7 years
• Large, highly skilled labour force (pop. 45.4 million) • Legislated corporate tax rate reductions from 21%
− GDP per capita only $6700/yr in 2012 to 16% in 2014
− Literacy rate >99% • Favourable mining royalties of $0.40 per tonne of
ore mined (~1%) to the Government 15
16. Globally Significant Iron Ore District
4th largest iron ore producer & 2nd largest reserve base
TSX: BKI
• Black Iron’s projects are located in the heart of
Global Distribution of Fe Reserves & Ukraine’s iron ore belt
Fe Production – 35km from city of 750,000 people
• Iron ore district trends 300 km with sedimentary rock
60%
hosted banded iron formations (Dnenpovskog complex)
% of World Production and Reserves
50% • Historically well explored resource base but
substantially under-exploited due to historic Soviet
40% policy
Production Reserves
30% • 15 iron ore mines in Ukraine produced 72 million
21%
tonnes in 2010
20%
10% 7% Tarnavatskoye
Kirovograd
0% Liponevsky Poltavsky GOK
Novokonstantinovsky Yeristovskoye
FSU
Asia
Other
Africa
N. America
Australia
S. America
Tsentralny Safonovskoye
Kryviy Rih Iron Ore Complex
Shymanivske
Ordzhonikize Gok
Zelenivske
Ingulestky GOK
Kryviv Rih
Yuzhny GOK
Production Reserves Kuksunurskoye
Source: Based on know production and reserves as listed in the
USGS 2012 Iron Ore report
16
17. 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
17
18. BFS Highlights – High Grade Concentrate
High Value, Low Net Cost Iron Ore Development Project
TSX: BKI
PEA BFS
Annual Production: 7.3 Mt 9.2 Mt
Iron Content: 67.0% 68.0%
Estimated Capital Investment: US$896.0 million US$1,094 million
Estimated Operating Expenses:
(average FOB) US$52.40/t US$43.97/t
(average at Mine Gate) US$41.78/t US$29.67/t
Net Present Value (8%): US$3.0 billion US$3.5 billion
IRR: 42.1% 45.9%
Annual Average Cash Flow: US$383 million US$593 million
Projected Payback (8%): 2.2 years 2.2 years
Estimated Mine Life: 28 years 16 years
Proj. Plant Start-Up Q4 2015 Q4 2015
Proj. Revenue Commencement Q4 2015 Q1 2016
Production, Iron Content, NPV, IRR and Cash Flow all increase
** See Disclaimer on page 2 ** while Capital Intensity decreases 18
19. BFS Long-Term Concentrate Price
Based on Mean Forecast of 20 Banks with Important Adjustments for
Favourable Iron Content & Shipping Distance
TSX: BKI
$120
$100 +$30
-$10
$80
$60 $115
$95
$40
$20
$0
Analyst Benchmark Shipping Adjustment Aggregate Iron BKI LT Concentrate
Price Premium Price
* BFS model prices for iron ore concentrate are based on the mean forecasted benchmark price for 62% iron concentrate, shipped from Brazil to
China, of 20 investment banks across the globe: 2016 = $105; 2017 = $97; Long-term = $95. The mean forecasted benchmark price is then adjusted
to reflect shorter shipping to target market, and adjusted for iron content at the rate of $5 per 1% of additional iron content (6 x $5 = $30). 19
** See Disclaimer on page 2 **
20. Vale (Shimandou 1)
African Minerals (phase2)
Xstrata (Askaf)
African Minerals (DSO)
84 87 90 92
ArcelorMittal (Western…
** See Disclaimer on page 2 **
Fortescue (Expansion)
Black Iron
109 109 119
Rio Tinto (IOC)
Alderon
122 124
Sundance
Kumba
Ferrexpo (Yeristovo)
Source: Company data; Renaissance Capital estimates
IRC (Kuranakh)
134 135 141 142
London Mining
IRC (K&S)
Auila (Hardey)
157 159 160
Xstrata (Zanaga)
167
Atlas Iron (Ridley)
CAPEX Forecast
(US$/t of capacity)
Rio Tinto (Pilbara)
Average = 161
Gindalbie (Karara)
Shymanivske Relative to Other Iron Ore Projects
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. Favourable Tax and Royalties in Ukraine
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
2.9
3.1 3.3 3.4 3.5 1.8 1.8 2.1
1.5 29% 1.0
0.3 0.5 1.1 0.1 0.3 0.6
Macarthur
Macarthur
Northland
Black Iron
Alderon
Northland
Black Iron
Alderon
Iron Road
Iron Road
Brockman
Gindalbie
Brockman
Gindalbie
Centaurus
Centaurus
Millenium
Millenium
New
New
16%
Pre-Tax & Royalty IRR Royalties Post-Tax & Royalty IRR
(%) 5%
(%)
40.2 45.9 40.3
32.0 35.0 38.0 2%
25.0 22.7 27.1
16.9 18.9 20.5
5-8%
Northland
Northland
Millenium
Millenium
Alderon
Alderon
Black Iron
Black Iron
Gindalbie
Gindalbie
Brockman
Brockman
New
New
1%
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
Bankable Feasibility Study
Land Acquisition
Environmental Studies
Permitting
Detailed Engineering
Construction
Production
22
** See Disclaimer on page 2 **
23. Black Iron Value Proposition
TSX: BKI
Skilled Experienced management team with history of creating value for
Management shareholders of Consolidated Thompson, RioTinto and Ferrexpo
Exceptional
Excellent access to skilled labour, power, rail & ports
Infrastructure
Large iron ore deposit with NI 43-101 compliant resource*
Sizable • 646 Mt Measured & Indicated resource @ 31.6% iron; additional 188 Mt of
Resource Inferred resource @ 30.1% iron, which will be concentrated to ~68% iron
• Potential for resource expansion to 1.1-1.8 Bt
Close to
Close to Steel Mills in: W.Europe, Turkey, Russia, Asia and Middle East
Target Markets
High margins due to close proximity to multiple steel mills, skilled
Compelling labour cost advantage and favourable corporate tax rate of 16%
Economics • Bankable Feasibility Study for 9.2Mt of high-grade 68% iron ore
concentrate – NPV of US$3.5billion and 45.9% IRR
23 23
* Please see note on Page 2
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 - Michael McAllister, IR Manager
London: +44 (0) 207 466 5000
Ukraine: +380 (67) 619-0454
info@blackiron.com Follow us:
TSX: BKI