Matt in London at the 121 Mining conference. This is Matt's pitch to potential investors.
What is your rationale for taking part 121 Mining Investment? Raise awareness of Black Iron to encourage buying in the market.
What recent news would you like to highlight to investors attending?
Offtake and US$75M term sheet with Cargill.
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Binding offtake agreement with Cargill.
Ukraine government land transfer agreement.
Ukraine government investment agreement.
6 Months:
Feasibility study completion.
EISA completion.
12 Months:
Binding US$100M royalty agreement
Debt for project construction secured
Construction started
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Key risk is timing of Ukraine Government land transfer. This is being mitigated by gaining support of Ukraine President Zelensky and hiring a retired formerly senior lawyer from Ukraine’s Ministry of Defence who are using the required land to expedite negotiations.
What do you think makes your company such a compelling investment?
Even in a realistic downside iron ore price scenario of $50/T (current $180-200/T), the project generates a mid 40% after tax IRR.