Black Iron Letter to Shareholders: Our Future Remains Promising!
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 07/09/13 -- Black Iron Inc. (TSX: BKI)(FRANKFURT: BIN) -
Black Iron Inc. ("Black Iron" or the "Company") would like to express its appreciation to shareholders for their continued support of the Company. Positive strides continue to be made in the advancement of the Shymanivske Iron Ore Project ("Shymanivske" or the "Project") and we would like to take this opportunity to update you on what has been happening and why we continue to believe that our future remains promising!
Despite challenging times in the global capital markets, we have remained busy since releasing the results of our Bankable Feasibility Study ("BFS") in Q4 2012. Much has changed since we successfully completed our initial public offering on the Toronto Stock Exchange. We have strategically deployed the monies raised and have significantly advanced test work and engineering at Shymanivske. Now, more than ever, we believe the Project has the potential to become a world class iron ore producer. Here is just a quick summary of our recent notable achievements:
We will continue to work on these advancements and look forward to reporting on the final conclusions over the balance of the year. We are also working on a number of initiatives that we believe will help generate additional interest in Black Iron. Specifically:
As a team, our top priority is the successful development of our iron ore assets. An extension of this priority is ensuring that our efforts are accurately reflected in our share price. We admit that we are disappointed with recent trading prices but we are working hard to develop the Company and to unlock value for shareholders. With the work we have completed since the BFS, the news flow that will follow our recent initiatives, and support from new and existing shareholders, we remain highly motivated to grow the Company and execute our strategic plan. As we progress, we will continue to update you through our website and press release. Our future remains promising!
Thank you again for your continued support.
Sincerely,
BLACK IRON INC.
Matt Simpson - President & CEO
George Mover - COO
Paul Bozoki - CFO
Aaron Wolfe - VP, Corporate Development
Nikolay Bayrak - VP, Gov't & Community Relations
Christine Gallo - Corporate Secretary
Michael McAllister - Manager, Investor Relations
About Black Iron
Black Iron is an iron ore exploration and development company, advancing its 100 percent-owned Shymanivske project located in Kryviy Rih, Ukraine. This project contains an NI 43-101 compliant resource, with 645.8 Mt Measured and Indicated mineral resources, consisting of 355.1 Mt Measured mineral resources grading 32.0% Total iron and 19.5% Magnetic iron, and Indicated mineral resources of 290.7 Mt grading 31.1% Total iron and 17.9% Magnetic iron, using a cut-off grade of 10% Magnetic iron. Additionally, the project contains 188.3 Mt of Inferred mineral resources grading 30.1% Total iron and 18.4% Magnetic iron. The project is surrounded by five other operating mines, including ArcelorMittal's iron ore complex. The Company believes that existing infrastructure, including access to power, rail and port facilities, will allow for a quick development timeline to production. Further, the Company holds an exploration permit for the adjacent Zelenivske project, which it intends to further explore to determine its potential. Please visit the Company's website at , follow us on Facebook: BlackIronInc or Twitter: (at)BlackIronBKI or write us at for more information.
The technical and scientific contents of this press release have been prepared under the supervision of and have been reviewed and approved by Matt Simpson, P.Eng., President and CEO of Black Iron Inc., who is a Qualified Person as defined by NI 43-101. For further information, please see the technical report of the Company, which is available on SEDAR at .
Forward-Looking Information
This press release contains forward-looking information within the meaning set out in Canadian securities laws. Forward-looking information is based on what management believes to be reasonable assumptions, opinions and estimates of the date such statements are made based on information available to them at that time, including those factors discussed in the section entitled "Risk Factors" in the Company's annual information form for the year ended December 31, 2012 or as may be identified in the Company's public disclosure from time to time, as filed under the Company's profile on SEDAR at . Forward-looking information may include, but is not limited to, statements with respect to results of the feasibility study dated December 17, 2012 (the "Feasibility Study", as filed under the Company's profile on SEDAR at ) and the mineral reserve and resource estimate, the future financial or operating performance of the Company, its subsidiaries and its projects, the development of and the anticipated timing with respect to the Shymanivske project, the ability to obtain financing; and the impact of concerns relating to permitting, regulation, governmental and local community relations. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Estimates underlying the results of the Feasibility Study arise from engineering, geological and costing work of WorleyParsons Canada Services Ltd. ("WorleyParsons"), Watts, Griffis and McOuat Limited ("WGM"), Consulting Geologists and Engineers of Toronto, P&E Mining Consultants Inc. ("P&E") and the Company. See the technical report relating to the Feasibility Study for a description of all relevant estimates, assumptions and parameters. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Contacts:
Black Iron Inc.
Michael McAllister
Manager, Investor Relations
+1 (416) 309-2950
Black Iron Inc.
Matt Simpson
President & Chief Executive Officer
+1 (416) 309-2138
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Datum: 09.07.2013 - 22:31 Uhr
Sprache: Deutsch
News-ID 276891
Anzahl Zeichen: 0
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Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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