Canadian iron ore exploration and development company Black Iron (TSX: BKI) (OTC: BKIRF) (GR: BIN) this morning announced its appointment of Cutfield Freeman & Co Ltd as its international financial advisor to negotiate and structure funding for construction of its Shymanivske iron ore project. “Black Iron selected Cutfield Freeman after a comprehensive process undertaken by the company given their extensive experience in securing construction financing for junior mining companies and global reach,” Black Iron CEO Matt Simpson said in the news release. “Having very experienced mine finance Managing Directors located in Europe and Asia, where project financing is most likely to be sourced from based on interest shown to date, is critical to support our efforts to secure financing for construction of the Shymanivske Project.”
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About Black Iron Inc.
Black Iron is an iron ore exploration and development company, advancing its 100%-owned Shymanivske Project located in Kryviy Rih, Ukraine. The Shymanivske Project contains a NI 43-101 compliant resource estimated to be 646 Mt Measured and Indicated mineral resources, consisting of 355 Mt Measured mineral resources grading 31.6% total iron and 18.8% magnetic iron, and Indicated mineral resources of 290 Mt grading 31.1% total iron and 17.9% magnetic iron, using a cut-off grade of 10% magnetic iron. Additionally, the Shymanivske Project contains 188 Mt of Inferred mineral resources grading 30.1% total iron and 18.4% magnetic iron. Full mineral resource details can be found in the NI 43-101-compliant technical report entitled “Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit” effective November 21, 2017, under the company’s profile on SEDAR. The Shymanivske Project is surrounded by five other operating mines, including ArcelorMittal’s iron ore complex. For more information, visit the company’s website at www.BlackIron.com.
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