Black Iron Inc. management continue to make sound progress arranging the financing for Shymanivske project construction, including the receipt of expressions of interest from European banks and export credit agencies to provide US$250 to 300 million of debt. Construction of phase one to produce four million tonnes per year of 68% iron content pellet feed is estimated to cost US$436 million, as further detailed in Black [...]
Black Iron Inc. management have achieved a MAJOR milestone in its Shymanivske project development by agreeing on terms with Ukraine's Government to acquire a key parcel of land that is being used by Ukraine's Ministry of Defense for location of Black Iron's future processing plant, tailings and waste rock stockpiles. A Memorandum of Understanding was signed today between Black Iron and Ukraine's Ministry of Defense with [...]
Black Iron Inc. reports that senior management met late last week with Ukraine's newly elected Prime Minister and Minister of Economy to discuss the importance of Black Iron's project to Ukraine given the high level of interest from foreign investors to fund construction, large number of new highly skilled jobs that will be created and the substantial investment planned. Both Ministers came to the meeting well briefed on [...]
Black Iron Inc. has closed on the first funding amount of CAD$2,250,000 pursuant to its previously announced convertible security funding agreement with Lind Global Macro Fund LP. Pursuant to the Agreement, Black Iron may issue to Lind convertible securities in the principal amount of up to CAD$11 million. Pursuant to the Agreement the Company has issued to Lind a convertible security with a principal amount of CAD$2.7 [...]
Black Iron Inc. reports it has executed a convertible security funding agreement with Lind Global Macro Fund LP pursuant to which Black Iron may issue to Lind convertible securities in the principal amount of up to CAD$11 million. Under the terms of the Agreement, Lind will make an initial investment of CAD$2.25 million less a commitment fee of CAD$78,750, in exchange for a convertible security with a principal amount of [...]
Black Iron Inc. continues to advance the Shymanivske Iron Ore Project towards construction with management efforts focused on securing funding for construction and land usage rights. The recent drop in share price is potentially attributed to a combination of shares from the April 2019 private placement becoming free trading and a decline in the global price of iron ore . Although Black Iron’s share price has increased [...]
Black Iron Inc. reports that it has filed the independent contractor agreement dated January 1, 2014 between the Company and Forbes & Manhattan, Inc. on SEDAR under the Company’s profile. Pursuant to the F&M Agreement, Forbes & Manhattan, Inc. provides management, business and operational consulting services to the Company. The dissemination of this news release and the filing of the F&M Agreement on SEDAR have been [...]
Black Iron Inc. reports, recently elected Ukraine President Zelensky along with several Ministers from Ukraine's Government will be in Toronto next week and Black Iron's CEO Matt Simpson is participating in several meetings including a panel at the Ukraine House event on July 3rd being moderated by the Chairman of UkraineInvest. Good progress is being made to secure essential land for Black Iron Inc.'s Shymanivske project [...]
Black Iron Inc., as part of providing reassurance to potential investors regarding project construction, has renewed its letter of intent with TransInvestServis for storage and cape-size ship loading capacity of up to 8.0 Mtpa at TIS’ privately owned berth at Port Yuzhny to match the projected production from the phased build of Black Iron’s Shymanivske Project. Black Iron Inc. has also renewed its LOI with [...]
Black Iron Inc. announces that it has appointed Cutfield Freeman & Co Ltd as its international financial advisor to negotiate and structure funding for construction of its Shymanivske iron ore project. On the back of signing a Memorandum of Understanding with Glencore that contemplates funding a significant portion of the cost to construct Shymanivske in exchange for securing offtake rights for up to the full phase one [...]
Black Iron Inc. has renewed its Letter of Intent with Ukraine's National Railway to provide up to 10 Mtpa of capacity to move product from the railway line located within two kilometers of Black Iron's Shymanivske Project to Port Yuzhny, a deep water port in the Black Sea. As Black Iron moves closer to commencing construction of the Project, it is renewing LOIs for all vital infrastructure including rail, power and port [...]
Black Iron Inc. announces that it has upsized and closed the second and final tranche of its previously announced non-brokered private placement of units of the Company. Pursuant to the Second Tranche, the Company issued a total of 9,043,950 units at a price of $0.06 per Unit for gross proceeds of $542,637. Combined with the closing of the first tranche on March 29, 2019, the Company has issued a total of 26,552,390 units [...]
