Global Atomic Announces Q3 2020 Results
Toronto, ON, November 11, 2020: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, FRANKFURT: G12, OTCQX: GLATF) announced today its operating and financial results for the three and nine months ended September 30, 2020.
Dasa Uranium Project
- The Environmental Impact Statement (“EIS”) was completed and filed with the Niger Government in July 2020.
- Pilot plant trials were initiated in August 2020 to confirm and optimize the processing plant flow sheet.
- The Mining Permit application was submitted to the Niger Government on September 25, 2020.
Global Atomic’s Turkish Operation Unaffected by Earthquake
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, FRANKFURT: G12, OTCQX: GLATF) today reports that the earthquake that occurred near the city of Izmir on Turkey’s west coast on Friday, October 27, 2020, had not impacted the Company’s zinc recycling joint-venture operation in Iskenderun, located approximately 1,000 kilometres east of Izmir.
President and CEO, Stephen Roman, commented, “On behalf of our Board of Directors and business partners, Global Atomic sends our sincere condolences to Turkey, the victims of the earthquake and their families. We are thankful that those working at or living near our operation in Iskenderun were unharmed by this event.”
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. The Company is moving the Dasa Project ahead rapidly, having recently completed the key milestone of submitting the mining permit application to the Niger government.
Global Atomics’ Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (“BST”) Joint Venture, which operates a new, state of the art processing facility, 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 and Asia.
Global Atomic Submits the Mining Permit Application for its Dasa Uranium Project
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, FRANKFURT: G12, OTCQX: GLATF) announced today that the Company has submitted the Mining Permit Application for its Dasa Uranium Project in Niger, as planned.
Global Atomic in Niger and History of the Dasa Project:
- Global Atomic began negotiations with the Government of the Republic of Niger in 2005. In 2006, 4 permits were granted and in 2007 an additional two permits were granted. Field activities commenced during 2006.
- The Company has discovered four deposits on four permits, the most significant being the Dasa Project on the Adrar Emoles 3 permit in 2010.
- Since operations began in Niger, in excess of US$50 million has been spent on the exploration and development of these deposits.
- The Dasa Project is a Tier 1 asset, with approximately 102 Mlb of uranium in the Indicated and 88 Mlbs of uranium in the Inferred categories, as stated in the July 2019 Technical Report, which is available on the Company website.
- Global Atomic believes strongly in local ESG initiatives with Company support including medical, education, food and water well drilling.
- In May 2020, the Company filed a Preliminary Economic Assessment using a Base Case uranium price of US$35/lb to mine the Flank Zone of the Dasa Project, as Phase 1, over 12 years, at an average AISC of less than US$19/lb to deliver an after-tax NPV8 of US$211 million and after-tax IRR of 26.6%.
- In Phase 1, Global Atomic plans to use conventional underground mining techniques and proven processing technology that is currently being used at existing uranium mines in Niger and targets an initial production of 44 Mlb.
Global Atomic Summary of Recent Investor Meetings
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”; TSX: GLO; Frankfurt: G12; OTCQX: GLATF) engaged this week with over 20 firms within the global mining investment community at the Mines & Money Online Connect Virtual Conference in a series of one-on-one meetings.
Many of these firms who met with management are currently shareholders, who have benefitted this year from the Company’s advancement of the development of its Dasa Uranium Project in Niger, whereas others were new to the Company’s story and were surprised to learn about:
- the successful uranium mining industry in Niger during the past 50 years;
- Niger’s excellent infrastructure to support mining and the efficiency of their mine permitting process;
- the speed of development at Dasa, with the 2021 expectation for permitting in Q1, the completion of all engineering and geotechnical work prior to collaring a portal in early 2022;
- the high-grade, long-life potential of the Dasa Project as defined by drilling results and this year’s Preliminary Economic Assessment;
- Dasa’s projected low costs that would allow the mine to be profitable at, and even well below, today’s uranium spot price;
- the positive outlook for uranium supply and demand;
- the potential cash contribution of the Company’s zinc recovery JV once the 2019 expansion has been paid;
- the financing optionality the Company has given its potential to:
- develop the Dasa mine and mill in phases;
- leverage relationships and existing facilities in Niger; and
- leverage the future cash flow from the Company’s zinc business.
Stephen Roman, President & CEO of Global Atomic, commented, “We thank Mines & Money for persevering and holding such a unique global conference during the pandemic and thank those investors and financiers who took the time to meet with us. In the coming weeks, we look forward to following up with the many investors who could not find an open time slot in our conference agenda.”
Global Atomic to Attend Mines & Money Online Global Connect
Toronto, ON, August 25, 2020: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, FRANKFURT: G12, OTCQX: GLATF) will be meeting virtually with investors and other members of the investment community at Mines & Money Online Connect being held with an impressive cast of mining companies and investors from around the world starting Monday, August 31 to September 3, 2020.
Management’s discussion points with investors will include:
- the completion of extensive Mining Permit application to the Niger government for the Dasa Uranium Project with the expectation for receipt of that Permit in Q1 2021;
- the initial stages of the Pilot Plant metallurgical study now underway;
- the plans for other key elements of the project including geotechnical drilling, optimization of the development plan and a bankable feasibility study;
- potential options for project financing in the new year;
- the operation of the BST zinc plant in Turkey;
- and the price outlook for zinc and uranium.