Global Atomic Publishes Phase I Dasa Project Feasibility Study

 
 

 Global Atomic Corporation ("Global Atomic" or the "Company") (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) reports that it has published and filed the recently announced NI 43-101 compliant, Phase 1 Dasa Project Feasibility Study (the "Study").

 
 

  Global Atomic Corporation logo (CNW Group/Global Atomic Corporation) 

 
 

The Study confirms that the Project is economically compelling, even at a price of US$35 /lb U 3 O 8 . Based on the Study, the strong uranium market and anticipated uranium supply deficits, the Board of Directors have made a production decision to proceed with the Dasa Project.

 

The Study is focused solely on Phase 1, primarily comprised of the Flank Zone, and represents the initial 12 years of the Project and less than 20% of the Dasa mineralization, which has been delineated through 160,000 metres of drilling since 2010. The Study is an update from the Preliminary Economic Assessment (the "PEA") filed in May 2020 and can now be found on www.SEDAR.com as well as the Global Atomic website ( www.globalatomiccorp.com ). The Study was completed by METC Engineering of Johannesburg, South Africa with contributions from Bara Consulting, Epoch Resources and Insight R&D.

 

As stated in the news release of November 15, 2021 , the Study estimates cash costs of $18.91 /lb U 3 O 8 inlcuding royalties, and an all-in sustaining cost of $21.93 /lb U 3 O 8 . Based on a U 3 O 8 price of $35 /lb, the after-tax NPV 8 was estimated at $157 million for an after-tax IRR of 22.7%. All monetary amounts are in U.S. dollars.

 

  Stephen G. Roman , President & CEO commented, "The Phase 1 Dasa Project Feasibility Study is the culmination of a large body of work and thorough study by our consultants and internal team. On behalf of the Company's Board of Directors, I thank them all for their extraordinary work.

 

"Although uranium prices have improved since the 2020 PEA and are widely expected to continue rising, we purposely kept the base case for this Study at US$35 /lb for comparative purposes and to highlight the superior economics of Dasa compared to most uranium projects currently under development.

 

"The completion of this Study sets the stage for the Company to move forward with the construction of the mine, finalization of an agreement to ship development ore to Orano Mining during mine development, signing of initial offtake agreements and completion of financing to build the Dasa processing plant by the end of 2024."  
 

 

  About Global Atomic
Global Atomic Corporation ( www.globalatomiccorp.com ) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

 

The Company's Uranium Division includes four deposits with the flagship project being the large, high grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger , the Dasa Project is fully permitted for commercial production.

 

Global Atomics' Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. ("BST") Joint Venture, which operates a modern zinc production plant, located in Iskenderun, Turkey . The plant recovers zinc from Electric Arc Furnace Dust ("EAFD") to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company's joint venture partner, Befesa Zinc S.A.U. ("Befesa") listed on the Frankfurt exchange under 'BFSA', holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe , Asia and the United States of America .

 
 
     
 

  The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved". All information contained in this news release, other than statements of current or historical fact, is forward-looking information. Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.  

 
 
 

  Forward-looking statements are based on the opinions and estimates of management at the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance upon forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law. Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.  

 
 
 

  The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.  

 
 
 

 

 
 
 

SOURCE Global Atomic Corporation

 

 

 

 Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/December2021/30/c9810.html  

 
 

News Provided by Canada Newswire via QuoteMedia

GLO:CA,GLATF
The Conversation (0)
GLOBAL ATOMIC PROVIDES DASA PROJECT UPDATE

GLOBAL ATOMIC PROVIDES DASA PROJECT UPDATE

 
 

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (FRANKFURT: G12) (OTCQX: GLATF) is pleased to report on the continuing development of its Dasa Uranium Project in the Republic of Niger .

 

  Stephen G. Roman , President & CEO, stated, " The primary question investors ask is regarding the timing of a term sheet for our banking syndicate's Dasa Project loan facility. While this has been a much longer process than expected, the financing terms are in the final stage of completion, which, upon agreement, will then go to the banks' Boards for approval prior to announcement to our shareholders."  

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Global Atomic Announces Q1 2023 Results

Global Atomic Announces Q1 2023 Results

 
 

   Dasa Uranium Project On Schedule to Produce Yellowcake in Q1 2025   

 

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) announced today its operating and financial results for the quarter ended March 31, 2023 .

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Global Atomic Completes a Second Definitive Agreement to Supply Uranium to a Major North American Utility

Global Atomic Completes a Second Definitive Agreement to Supply Uranium to a Major North American Utility

 
 

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) announced today that the Company has formalized its June 2022 Letter of Intent by signing a Definitive Agreement with a major North American utility for their procurement of uranium from the Dasa Project. The agreement represents the supply of up to 2.1 million pounds U 3 O 8 within a multi-year delivery window beginning in 2025, representing about 7% of Dasa's annual production over the period with a revenue potential valued in excess of US$110 million in real terms.

 

In January 2023 , the Company formalized a similar agreement with another major North American utility for the procurement of Dasa's uranium, representing the supply of 2.4 million pounds U 3 O 8 over a six-year period commencing in 2025, representing a revenue potential of US$140 million in real terms.  In total these two agreements represent revenue potential of over US$250 million .

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Global Atomic Announces 2022 Results

Global Atomic Announces 2022 Results

 
 

   Dasa Uranium Project On Schedule to Produce Yellowcake in Q1 2025   

 

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) announced today its operating and financial results for the year ended December 31, 2022 .

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Global Atomic Update and Outlook for 2023

Global Atomic Update and Outlook for 2023

 
 

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTC-QX: GLATF) (Frankfurt: G12) is pleased to report on operations at its Turkish zinc recycling joint venture and its Dasa Uranium Project in the Republic of Niger .

 

   Turkish Zinc Recycling Joint Venture   

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Terra Clean Energy President and CEO Greg Cameron.

Terra Clean Energy Ramps Up Summer Drilling Plans, Eyes Resource Update

Terra Clean Energy (CSE:TCEC,OTCQB:TCEFF,FWB:C9O0) President and CEO Greg Cameron outlines the company's upcoming summer drill program at the South Falcon East uranium project, building on strong results from a winter campaign at the Fraser Lakes B deposit.

“The plan is to get up to 2,500 meters back into this new area of interest. Hopefully drill into what we're defining as an unconformity basement-hosted uranium deposit with significantly higher grade than we currently have,” he said.

“We would have the ability to update that resource report in some fashion, maybe early 2026 or mid-2026, so those are the two key catalysts. But it's all about drilling and adding pounds to the current resource and, more importantly, significantly enhancing that grade which we think we have," Cameron added.

Keep reading...Show less
Placement Shares Issued & Drilling Approval Expected August

Placement Shares Issued & Drilling Approval Expected August

GTI Energy (GTR:AU) has announced Placement Shares Issued & Drilling Approval Expected August

Download the PDF here.

Yellow uranium rock on dark stones with ASX logo in the corner.

Top 3 ASX Uranium Stocks of 2025

Uranium broke out in 2024, with the spot price rising to a 17 year high of US$106 per pound early in the year. Despite a pullback to about US$78, uranium is still more than 40 percent higher than it was two years ago.

Although the market is dealing with ample supply and uncertain demand in 2025, experts are predicting a bright future as countries around the world pursue energy security goals.

Against that backdrop, ASX-listed uranium companies have been making moves in 2025.

Keep reading...Show less
North Shore Uranium (TSXV:NSU)

North Shore Uranium Engages Investing News Network

North Shore Uranium Ltd. (TSX-V:NSU) ("North Shore" or the "Company") is pleased to announce that it has entered into an advertising and investor awareness campaign agreement (the "INN Agreement") with Dig Media Inc. dba Investing News Network ("INN").

INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007 at www.investingnews.com. On July 4, 2025, the Company entered into the INN Agreement. The INN Agreement will be for a three-month term, with three equal payments of $2,750 that will be paid at the beginning of each month, totaling $8,250 (GST excluded). The INN Agreement will not automatically renew. INN will provide advertising to increase awareness of the Company with the first campaign commenced on July 4, 2025. INN does not provide Investor Relations or Market Making services. INN currently holds no common shares in the Company. INN and the Company are unrelated and unaffiliated entities.

Keep reading...Show less
Canadian and Saskatchewan flags waving under a clear blue sky.

15 Uranium Companies Exploring Canada's Athabasca Basin

Uranium market watchers know that Canada’s Athabasca Basin is among the world’s richest uranium jurisdictions and hosts several of the highest-grade uranium deposits on the planet.

Spanning close to 100,000 square kilometers of the Canadian Shield of Northern Saskatchewan and Alberta, the Athabasca Basin is a major contributor to Canada’s status as the second largest uranium producer and the third largest country by uranium reserves.

Unsurprisingly, the region is home to the world’s largest uranium mine, Cigar Lake. The mine reports average grades of 14.69 percent U3O8 and accounts for 14 percent of global uranium production.

Keep reading...Show less

Latest Press Releases

Related News

×