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    Basic Materials

  3. •

    Industrial Materials
Black Iron Inc.

Black Iron Inc.

BKI.TO
Black Iron Inc.CA flagToronto Stock Exchange
0.13
CAD
+0.01
- -
41.54MMarket Cap
Black Iron Inc.
BKI.TO
(Toronto Stock Exchange)

Recent

price

0.13

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Revenue per Share
-0.06
-0.14
-0.06
-0.03
-0.14
-0.01
-0.02
-0.01
-0.02
-0.04
-0.02
-0.01
-0.01
-0.01
- -
-0.01
Basic EPS, GAAP
-0.04
-0.12
-0.05
-0.04
-0.02
-0.01
-0.02
-0.01
-0.01
-0.01
-0.02
-0.01
- -
-0.01
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.35
0.18
0.15
0.19
0.04
0.03
0.02
- -
-0.01
-0.03
- -
-0.01
-0.01
-0.01
-0.01
-0.02
Book Value per Share
0.38
0.22
0.16
0.25
0.08
0.03
0.02
- -
-0.01
-0.03
0.02
- -
- -
-0.01
-0.01
-0.01
Tangible Book Value per Share
125
141
141
157
161
160
160
160
180
226
282
304
304
304
306
306
Basic Weighted Avg Shares
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
-7
-19
-8
-5
-23
-2
-3
-2
-3
-9
-6
-3
-2
-2
-1
-2
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
25
8
- -
16
13
5
4
- -
1
1
5
1
- -
-2
-3
-4
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
48
31
23
39
13
5
4
- -
-2
-6
5
1
- -
-2
-3
-4
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
-55.12
-35.96
-19.82
-131.7
-30.67
-74.83
-138.24
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
306
306
306
Market Capitalization
25
30
23

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
1
1
- -
Cash, Cash Equivalents & STI
1
1
- -
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
4
4
4
Payables & Accruals
1
1
1
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
26.43%
175.45%
64.31%
Free Cash Flow
9%
23.23%
-43.25%
Net Income, GAAP
6.93%
-25.58%
-31.84%
Sales/Revenue/Turnover
- -
- -
- -
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
-0.01
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Black Iron Inc. (TSX: BKI) is a Canada-based iron ore exploration and development company that advances its 100% owned Shymanivske Iron Ore Project located in Kryviy Rih, Ukraine, surrounding operating mines including Metinvest’s YuGOK and ArcelorMittal’s iron ore complex; the project features a high-grade 68% Fe low-impurity premium magnetite pellet-feed concentrate ideal for green steel production, surrounded by existing infrastructure such as railway, deep seaport, low-cost power, and skilled labor, with projected output of up to 10 million tonnes per annum upon full development as detailed in its NI 43-101 technical report. Founded in 2010 and headquartered in Toronto, Canada, the company targets global steelmakers in Europe and the Middle East seeking premium iron ore to enhance blast furnace efficiency and reduce emissions by approximately 30% compared to peers. In 2025, Black Iron completed all required Ukrainian engineering, environmental, and social impact studies plus public hearings to mine 1% of the Shymanivske ore body for extraction permit renewal under new legislation, secured necessary government approvals, successfully trialed ore processing at neighboring mines to produce marketable concentrate, and plans commercial mining startup in early 2026 followed by an additional US$1.6 million investment from Anglo American per their prior royalty and offtake agreement; the company also shortlisted in Newfoundland & Labrador’s competitive bid for the Julienne Lake iron ore deposit—supported by Anglo American—with its low strip ratio and high recovery potential for high-purity concentrate suited to cleaner steelmaking, appointed David Porter as Chairman of the Board in July 2025, and engaged government-backed agencies for non-recourse financing to advance full project permitting amid ongoing war conditions.