Global Atomic Receives Mining Permit for the Dasa Uranium Project
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) is pleased to announce The Presidential Decree granting the Mining Permit has been approved by the Council of Ministers for the Company’s Dasa Uranium Project.
President & CEO of Global Atomic, Stephen G. Roman, stated, “We are excited to report the receipt of a Mining Permit for the Company’s flagship discovery, Dasa, and acknowledge the tremendous achievements of our Niger and Toronto based teams and completion of this truly important milestone. The early receipt of the Mining Permit is testament to the relationships we’ve built with the Government of Niger since we entered the country in 2005 and Niger’s support for its domestic uranium mining industry. With this Permit and continuing positive results from our ongoing work programs, we are enthusiastically advancing the Dasa Project, now completing the final design and engineering required to build the Project.”
Global Atomic to Present at OTC VirtualInvestorconferences.com – December 8, 2020
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”; TSX: GLO; Frankfurt: G12; OTCQX: GLATF) announced today that Stephen G. Roman, President & CEO, will present live at VirtualInvestorConferences.com on Tuesday, December 8th.
DATE: Tuesday, December 8th
TIME: 12:30 p.m. (ET)
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
The presentation will focus on the Company’s high-grade Dasa Uranium Project development in the Republic of Niger, West Africa, as well as the BST Zinc operation in Turkey. Highlights include:
- The highest-grade uranium project currently being developed in Africa
- Assuming a uranium price of $35/lb, the May 2020 PEA calculated a 26.6% after-tax rate of return
- Low capital cost and short construction period, with first U3O8 production expected in early 2024
- Niger has continuously produced uranium since 1971, has excellent infrastructure and short permitting timelines as uranium is a key export
- Positive supply and demand outlook for uranium
- A proven management team of mine builders with uranium expertise
- Cash flow from electric arc furnace dust (“EAFD”) recycling to produce a high grade zinc concentrate to support Company operations
- Zinc plant operated by the Company’s JV partner and industry leader; Befesa Zinc S.A.U.
- The feedstock for the zinc plant is EAFD – a by-product of Turkish electric arc steel mills
- The expansion and modernization of the plant completed in 2019 provide leverage to zinc prices
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. Learn more about the event at www.virtualinvestorconferences.com.
Global Atomic Announces Q3 2020 Results
Toronto, ON: 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.