Black Iron Inc T.BKI

Investment Questions

[Hunter747]

i am currently considering rebuilding a position in BKI. I have some questions and I am posting on this board in the hope that informed investors may be able to share info valuable to assessing retail investor risk to return. Here are questions in no particular order. Thank you in advance for any responses.

Share structure - What is the total (fully diluted) shares out? I found the deck very big on selling me the project and what financing could look like at 50,000 feet  but not explaining the current share structure or financing share structure.

Forbes Manhattan - I am vaguely familiar with the history and concerns voiced in other previous investments relative to their business model. Can anyone share any companies that they have been involved in over the past 5 years that have actually reached financing and production.
 
What is stopping FM and insiders from issuing themselves more shares to sell into 2021 hyped momentum (for a profit of course) so they can then accumulate and sit on warrants? I believe this is their usual pattern. If I am mistaken I apologize. 

The PEA clearly looks great!  However why no feasibility study? They have had time and enough capital to complete. Isn’t this the norm prior next step prior to financing? 

Why wouldn’t management do a share rollback prior to investing?  Happens a lot when S/O over 200MM.

Thank you again for any insights shared.

[someday2]

Consolidated Thomson in Labrador/Quebec was a blockbuster for shareholders.

[SomeFromNone]

desert Sun mining sold for $750M in 2006. Consolidated Thompson sold for $4.9B in 2011 (8m tons per annum iron ore mine). Avion gold sold for $400m in 2012. Sulliden gold sold for $464m in 2014. Belo sun mining is an ongoing project with a market cap of over $500m. Brazil Potash is ongoing with a market cap of $460m apparently but I can't find the stock beyond F&M corporate documents. I

[SomeFromNone]

as for a share rollback, I don't think it would be well received right now. In addition, I think there is probably enough potential value in the project to justify the number of shares (we should still see a respectable price per share). As for the capital structure, I think it's supposed to be 40% equity (offtake and maybe royalty) plus 60% debt from European banks and whatever other

[Hunter747]

Thank you for the information and perspective. I agree on the FS not being required at this point.  F&M successes noted. S/O seems high (not sure how I missed this on their deck). I was taught that anything over 200M be careful.   If I find time I will dig deeper into the F&M successes that you mentioned and see if they did a roll back prior to financing.  GLTA

[SomeFromNone]

for your consideration: https://www.juniorminers.com/rolled-back-stock.html this opinion piece summarizes my worry pretty well with regards to a rollback. especially at this stage

[fullyblown1]

I'd encourage you to ask Matt Simpson all of these questions. He is usually pretty straight forward answering and its better to hear straight from the horses mouth. Let us know if you do and what the reply is. GL

[Hunter747]

Done - I will advise what I hear back.

[IvanGubinski]

The property is a ready to do deal. Market is not putting money in because market is usually very passive. This company got destroyed by the Ukraine civil war. Investors hate bad news like that also during the period iron ore price tanked

[6pako6]

Hunter, any news from Matt?