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Black Iron Inc. engages in the exploration and development of iron ore in Ukraine. It holds a 100% interest in the Shymanivske iron ore project covering an area of 2.56 square kilometers located in Krivyi Rih, Ukraine. The company was incorporated in 2010 and is headquartered in Toronto, Canada.
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Black Iron Inc. is a Canadian mineral development company focused on advancing the Shymanivske iron ore project in central Ukraine, aiming to develop a mine and export capacity for iron ore. Long-term growth drivers include global steel demand and the project’s reported resource scale and proximity to regional rail and port infrastructure, which may support low-cost supply. Investors may find exposure to iron-ore fundamentals and development optionality attractive as the company pursues permitting and project advancement.
The most important investment risks are significant geopolitical and security uncertainty from the conflict in Ukraine, substantial project financing and execution risk, commodity-price volatility and potential regulatory or infrastructure constraints that could delay or prevent development.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -1.48M | -2.13M | -1.58M | -3.44M | -5.83M |
| Net income | -1.48M | -2.13M | -1.58M | -3.42M | -5.81M |
| Selling general administrative | 0.85M | 1.02M | 0.93M | 1.33M | 3.15M |
| Selling and marketing expenses | - | 1.06M | 0.57M | - | - |
| Gross profit | -0.12M | - | - | - | - |
| Reconciled depreciation | 0.11M | 0.00M | 0.00M | 0.00M | 0.00M |
| Ebit | -1.54M | -2.08M | -1.51M | -3.46M | -5.78M |
| Ebitda | -1.43M | -2.08M | -1.50M | -3.45M | -5.78M |
| Depreciation and amortization | 0.12M | 0.00M | 0.00M | 0.00M | 0.00M |
| Operating income | -1.54M | -2.08M | -1.51M | -3.46M | -5.78M |
| Other operating expenses | 1.54M | 2.08M | 1.51M | 3.48M | 5.80M |
| Interest expense | 0.06M | 0.01M | 0.00M | 0.02M | 0.06M |
| Interest income | 0.03M | 0.02M | 0.03M | 0.04M | 0.05M |
| Net interest income | -0.02M | 0.04M | 0.03M | 0.02M | -0.05M |
| Income tax expense | - | - | - | -0.02M | -0.02M |
| Total revenue | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Total operating expenses | 1.43M | 2.08M | 1.51M | 3.48M | 5.80M |
| Cost of revenue | 0.12M | - | - | - | - |
| Total other income expense net | 0.06M | -0.05M | -0.07M | 0.02M | -0.04M |
| Net income from continuing ops | -1.45M | -2.13M | -1.58M | -3.44M | -5.83M |
| Net income applicable to common shares | - | -2.13M | -1.58M | -3.44M | -5.83M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 1.08M | 2.37M | 1.17M | 2.33M | 6.39M |
| Other current assets | -0.00M | - | 0.00M | - | - |
| Total liab | 4.31M | 4.34M | 1.32M | 1.03M | 1.74M |
| Total stockholder equity | -3.23M | -1.97M | -0.15M | 1.31M | 4.66M |
| Other current liab | 2.85M | 2.60M | 0.28M | 0.05M | 0.91M |
| Common stock | 84.31M | - | 84.24M | 84.14M | 84.09M |
| Capital stock | 84.46M | 84.24M | 84.24M | 84.14M | 84.09M |
| Retained earnings | -88.37M | -87.72M | -86.50M | -88.62M | -85.38M |
| Other assets | - | - | - | - | 0.00M |
| Cash | 0.57M | 1.78M | 1.10M | 2.26M | 5.69M |
| Total current liabilities | 3.96M | 3.89M | 1.32M | 1.03M | 1.74M |
| Net debt | -0.12M | - | -1.10M | -2.26M | -5.69M |
| Short term debt | 0.09M | - | - | 0.00M | 0.00M |
| Short long term debt total | 0.45M | - | - | - | - |
| Other stockholder equity | - | - | 2.29M | 5.97M | 5.97M |
| Property plant equipment | - | - | - | 0.00M | 0.01M |
| Total current assets | 0.62M | 1.83M | 1.17M | 2.33M | 6.39M |
| Net tangible assets | - | - | - | 1.31M | 4.66M |
| Net receivables | 0.06M | 0.05M | 0.07M | 0.06M | 0.69M |
| Long term debt | - | - | - | - | 0.00M |
| Inventory | - | - | -0.00M | - | - |
| Accounts payable | 1.02M | 0.93M | 1.04M | 0.98M | 0.83M |
| Accumulated other comprehensive income | 0.84M | - | -0.19M | -0.19M | -0.02M |
| Non current assets total | 0.46M | 0.54M | 0.00M | 0.00M | 0.01M |
| Capital lease obligations | 0.45M | 0.54M | - | - | - |
| Long term debt total | - | - | - | 0.00M | 0.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | 0.05M | 0.03M | 0.02M | -0.00M |
| Change to liabilities | - | - | - | 0.00M | 0.00M |
| Total cashflows from investing activities | -0.03M | 0.05M | 0.03M | 0.02M | -0.00M |
| Net borrowings | -0.14M | -0.01M | 0.00M | - | -0.02M |
| Total cash from financing activities | -0.03M | 2.59M | 0.02M | 0.04M | 9.00M |
| Change to operating activities | - | - | - | -0.05M | 0.41M |
| Net income | -1.48M | -2.13M | -1.58M | -3.44M | -5.83M |
| Change in cash | -1.29M | 0.68M | -1.16M | -3.43M | 4.03M |
| Begin period cash flow | 1.86M | 1.10M | 2.26M | 5.69M | 1.67M |
| End period cash flow | 0.57M | 1.78M | 1.10M | 2.26M | 5.69M |
| Total cash from operating activities | -1.11M | -2.04M | -1.22M | -3.28M | -4.96M |
| Issuance of capital stock | - | - | - | 0.00M | 9.13M |
| Depreciation | 0.12M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other cashflows from investing activities | - | 0.05M | 0.03M | 0.02M | 0.00M |
| Sale purchase of stock | - | 0.00M | 0.02M | 0.04M | 9.83M |
| Other cashflows from financing activities | -0.00M | 2.60M | 0.02M | 0.02M | -0.10M |
| Change to netincome | - | - | - | 0.21M | 0.45M |
| Capital expenditures | 0.03M | 0.00M | 0.00M | 0.00M | 0.01M |
| Change in working capital | 0.01M | -0.09M | 0.29M | -0.05M | 0.41M |
| Stock based compensation | 0.18M | 0.23M | 0.10M | 0.23M | 0.34M |
| Other non cash items | 0.24M | -0.05M | -0.03M | -0.02M | 0.12M |
| Free cash flow | -1.14M | -2.04M | -1.22M | -3.28M | -4.96M |
Sector: Basic Materials Industry: Other Industrial Metals & Mining
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|
| BKI Black Iron Inc. |
- -% |
0.07 | - | - | - | 58.26 | -9.48 |
| TECK-B Teck Resources Limited |
2.91 3.37% |
89.36 | 12.14 | 9.12 | 1.91 | 0.97 | 6.34 |
| TECK-A Teck Resources Limited |
2.26 2.62% |
88.62 | 12.13 | 9.34 | 1.91 | 0.99 | 6.47 |
| IVN Ivanhoe Mines Ltd. |
-0.65 7.32% |
8.23 | 44.19 | 31.45 | 37.10 | 2.17 | 40.94 |
| NGEX NGEx Minerals Ltd. |
0.42 2.01% |
21.27 | - | - | - | 13.49 | -21.12 |
Black Iron Inc. engages in the exploration and development of iron ore in Ukraine. It holds a 100% interest in the Shymanivske iron ore project covering an area of 2.56 square kilometers located in Krivyi Rih, Ukraine. The company was incorporated in 2010 and is headquartered in Toronto, Canada.
| Name | Title | Year Born |
|---|---|---|
| Mr. Matthew Simpson M.B.A., P.Eng. | CEO & Director | NA |
| Mr. Paul Sandor Bozoki CA, MBA | Chief Financial Officer | 1972 |
| Mr. Stefan Gueorguiev | Chief Operating Officer | 1966 |
| Mr. Stan Bharti C.Eng, DIC, M.Sc., P.Eng | Exec. Officer | 1952 |
| Mr. William S. Hart | Sr. VP of Corp. Devel. | NA |
| Mr. Kenny Choi | Corp. Sec. | 1991 |
| Mr. Stan Bharti C.Eng, DIC, M.Sc., P.Eng | Executive Officer | 1952 |
| Mr. William S. Hart | Senior Vice President of Corporate Development | NA |
| Mr. Kenny Choi | Corporate Secretary | 1991 |
| Mr. Matthew Simpson M.B.A., MBA, P.Eng, P.Eng. | CEO & Director | 1979 |
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