Black Iron Inc. (TSX:BKI,FWB:BIN) announced the bankable feasibility study results at its Shymanivske iron ore project in the Ukraine.
As quoted in the press release:
The BFS outlines an operation producing 9.2 million tonnes per year of high-grade 68% iron ore concentrate, projecting a 45.9% internal rate of return (“IRR”) and a U.S. $3.5 billion net present value (“NPV”) at an 8% discount rate.
Black Iron’s President and CEO, Matt Simpson said:
The operation outlined by this BFS for theShymanivske Project clearly illustrates the potential for a high-value, low net cost iron ore development project. The projected high NPV, net cash flows, and relatively low unit cost for concentrate arise from Black Iron’s advantages, which include an iron ore deposit with significant existing infrastructure in addition to access to low-cost skilled labour. We continue to deliver on our objective timetable and our results to date, coupled with this engineering study, make a compelling case for expediting the development of the Shymanivske Project.