Business
Black Iron Feasibility Study to be Published Upon Peace in Ukraine
TORONTO, ON / ACCESSWIRE / April 5, 2022 / Black Iron Inc. (" Black Iron " or the " Company ...
About this update from Black Iron Inc.
[{"type":"text","content":"Black Iron Feasibility Study to be Published Upon Peace in UkraineTORONTO, ON / ACCESSWIRE / April 5, 2022 / Black Iron Inc. (\"Black Iron\" or the \"Company\") (TSX:BKI)(OTC PINK:BKIRF)(FWB:BIN) has been advised by Wood Plc., who's employees are the main authors of the Shymanivske Iron Ore (the \"Project\") feasibility study (the \"Study\"), that publication of the Study cannot occur until there is peace in Ukraine and it is possible to revisit site. In particular, to meet the requirements for a National Instrument 43-101: Standards of Disclosure for Mineral Projects feasibility study, at the time of publication of the Study, it needs to be reasonably justified that extraction can occur, that the envisaged infrastructure including power, rail and port are operational and that foreign exchange rate can be predicted with more accuracy.Since extensive work has been conducted to bring the Study to a near completed state, upon there being peace in the Dnipropetrovsk region of Ukraine where Black Iron's Shymanivske project (the \"Project\") is located, the Company plans to reengage Wood and the other companies that contributed to the Study to finalize it for publication. As a minimum this will entail verifying the operational status of all infrastructure, updating all costs previously quoted in Ukrainian hryvnia and any other costs that may have materially changed.As of writing, all of Black Iron's team members are safe. Management in Canada has helped arrange the relocation of some of the women and children from families we employ to other countries and purchased protective gear plus provided additional funds to those remaining in Ukraine to help cover essential costs.Should readers wish to support a humanitarian appeal dedicated to Ukraine, the appeal established by the Ukrainian Canadian Congress (UCC) and the Canada-Ukraine Foundation (CUF) is recommended. Donations of support can be made at the following website: www.cufoundation.caAbout Black IronBlack Iron is an iron ore exploration and development company, advancing its 100% owned Shymanivske Iron Ore Project located in Kryviy Rih, Ukraine. Full mineral resource details and projected project economics can be found in the NI 43-101 technical report entitled \"(Amended) Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit\" published in March 2020 with ...