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:
-- Advancing Infrastructure Contracts. One of the things that differentiate Black Iron from many of the other iron ore developers is our access to existing infrastructure with available capacity. We have been discussing our usage requirements with the various rail, port, power and municipal utilities providers and believe we will be in a position to enter into final-stage negotiation of use agreements in the near future. Securing these infrastructure contracts will further de-risk our Project development.-- Strengthening Our Local Presence. A key part of building a world-class mining operation is the quality and depth of your team at site, particularly when operating in a foreign country. We have been working diligently to augment our already strong presence in Ukraine, but have come across a unique opportunity to potentially work with a major local company. We hope to execute on this opportunity in the near term, which could further differentiate us from other developers.-- Off-Take Discussions Picking Up. The release of the BFS brought significantly more attention to our Project and its potential role as a supplier of high-grade iron ore products. We have had a number of positive discussions with prospective off-takers with a number of groups actively reviewing our data and testing our ore. Finding an off-take group, or groups, is a high priority at this stage as we see the off- taker as playing a vital role in our financing plan for the Project's development.
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.
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 www.blackiron.com, follow us on Facebook: BlackIronInc or Twitter: @BlackIronBKI or write us at email@example.com for more information.