Global Atomic is a profitable TSX listed company providing a unique combination of high grade uranium development and cash flowing zinc concentrate production.
The Company aims to start uranium production at the Tier 1 Dasa deposit, in Niger. In addition, Global Atomic has a 49% stake in the BST steel dust recycling operation in Turkey that produces zinc concentrate and provides financial leverage to minimise equity dilution.
Global Atomic owns 100% of the Dasa project in Niger, a major uranium deposit first discovered by Company geologists in 2010. A July 2019 NI 43-101 compliant Mineral Resource Estimate reports 26.30 million tonnes in the Indicated Resource category grading 1,752 ppm for 101.6 million pounds of contained uranium, and 22.31 million tonnes in the Inferred Resource category grading 1,781 ppm for 87.6 million pounds of contained uranium. Dasa is a graben-hosted sandstone deposit of world class size and grade.
In 2017 the Company signed a Memorandum of Understanding (MOU) with Orano Mining S.A. (formerly known as AREVA Mines Ltd.) to coordinate logistics for the further development of Dasa, to work with mutual assistance and cooperation in Niger, and to potentially process uranium ore from Dasa at facilities 135 kilometers north, near the town of Arlit. Global Atomic is currently engaged in technical studies to define the optimal development plan for Dasa.
Global Atomics also holds a 49% interest in the Befesa Silvermet Turkey, S.L. (“BST”) Joint Venture, which operates a processing facility located in Iskenderun, Turkey. BST converts Electric Arc Furnace Dust (“EAFD”) into a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner is Befesa S.A. (“Befesa”) which is listed on the Frankfurt exchange (FRA:BFSA) and is the market leader in EAFD recycling, capturing approximately 50% of the European EAFD market with facilities located throughout Europe and Asia. Befesa holds a 51% interest in and is the operator of the BST Joint Venture.