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"Black Iron's management continues to make good progress in discussions with groups interested to fund construction of the Shymanivske project and with Ukraine's government on essential land transfer as global borders start to reopen in light of covid-19 related travel restrictions. Negotiations on investment structure and terms are currently ongoing with two construction companies that have expressed an interest to also invest ~US$60 million in exchange for being awarded the construction contract. Discussions also remain ongoing with high potential debt providers and some new and previously engaged European government backed export credit agencies (ECA's) who can help lower borrowing costs by providing sovereign guarantees. Steel mills and global trading houses interested to secure offtake rights to Black Iron's expected high grade 68% iron content concentrate are closely watching global travel restrictions in their host countries so they can conclude due diligence as originally planned for this past March/April as Ukraine recently announced its border is open to foreigners with modest to no quarantine requirements."