Black Iron Inc has filed a National Instrument 43-101 compliant technical report dated December 17th 2012 titled Feasibility Study of the Shymanivske Iron Ore Deposit for Black Iron Inc.
The Report contains a comprehensive mine to port breakdown of Black Iron's Bankable Feasibility Study on the Shymanivske Iron Ore Property in the Dnepropetrovsk region of Kryvyi Rih, Ukraine.
The Feasibility Study 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 and a UDS 3.5 billion net present value at an 8% discount rate. The Project continues to have favorable economic potential across a range of discount rates. The operations outlined in this Feasibility Study are projected to generate over USD 1,136 million in average annual revenue over the life of mine. The total average operating costs over 16 years are estimated at USD 43.97 per tonne of high grade 68% iron ore concentrate.
