Black Iron Inc. to Present at the Spring Investor Summit on March 25th-26th in New York City
NEW YORK, March 9, 2020 - Black Iron's (TSX:BKI)(OTCPINK:BKIRF) globally top ranked iron ore project construction financing plan to be presented at the Spring Investor Summit on March 25th in New York City.
The Spring Investor Summit will take place at the Essex House, featuring 100 companies and over 500 institutional and retail investors.
About Black Iron
Black Iron Inc. (TSX:BKI)(OTCPINK:BKIRF) is developing an iron ore mine ranked as the lowest cost undeveloped project globally by both CRU and Wood MacKenzie. Exceptional infrastructure access along with the very high 68% iron content purity of its final product is where Black Iron really differentials itself.
- Project is located in an established mining region surrounded by five operating iron ore mines owned by multibillion companies including ArcelorMittal, Metinvest and Evraz
- Black Iron's cost to mine, process, rail and load a ship is estimated at only US$31/T for an ultrahigh grade 68% iron content product (top 4% globally)
- Using a long-term iron-ore price of US$62/T (current actual ~$90/T) results in a 34% IRR and US$1.4 billion NPV (10% discount rate) after tax for a company with current market capitalization of only ~US$14 million (~CND$18 million)
- Memorandum of understanding signed with Glencore for offtake in exchange for significant construction investment
- Company currently securing debt financing and land required for construction with several announcements to be made prior to yearend.
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SOURCE: Black Iron Inc.
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