The Investment Doctor
Long/short equity, value, debt, base metals

Black Iron - A Call On Political Stability In Ukraine

Introduction

In this article I'll have a closer look at Black Iron (OTC:BKIRF) which aims to develop its S iron ore project in Ukraine. I will start by providing a background of the project where after I will use the independent Preliminary Economic Assessment as starting point to tweak some numbers to see how well the project holds up using a higher discount rate and lower iron ore price. Thereafter I will discuss the main risks which are associated with an investment in Black Iron and I will provide some options to get the project financed. This will result in my investment thesis at the end of this article.

Source: Company website

As trading in Black Iron is

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