Global Atomic Announces Dasa Drill Program

Toronto, ON:  Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, FRANKFURT: G12, OTCQX: GLATF) is pleased to announce the signing of a drill contract with Foraco Niger S.A. (Foraco), for a 15,000 meter core drilling program beginning in September, 2021, at its Dasa Project in the Republic of Niger, West Africa.

The drill program is focused on upgrading the extensive “Indicated and Inferred” resources at Dasa to the “Measured and Indicated” categories on strike of the Flank Zone, Phase 1, mine plan area, as defined in the May 2020 Preliminary Economic Assessment.  With the upgrading of the on strike resources, the Phase 1, Flank Zone mining area is expected to be expanded, adding to the current 12-year plan at the Flank Zone as well as allowing Global Atomic to define the Phase 2 Mine Plan incorporating the upgraded mineral resources.  See Figure 1.

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Global Atomic Announces 2020 Results

Highlighting Significant Progress on its Dasa Uranium Project and
a Positive Outlook for its Zinc Recycling Business

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 year ended December 31, 2020.

HIGHLIGHTS

Dasa Uranium Project

  • A Preliminary Economic Assessment (“PEA”) of the Phase 1 Development Plan for the Dasa Uranium Project was completed, indicating an initial, Phase 1, 12-year mine schedule to produce 44.1 million pounds U3O8, with an average processed grade of 5,396 ppm.
  • The PEA estimates cash costs of US $16.72/lb U3O8, including corporate and all other off-site costs,andan all-in sustaining cost of US $18.39/lb U3O8.
  • Based on a U3O8 price of US $35/lb, the after-tax NPV discounted at 8%, is $211 million for an after tax IRR of 26.6%.
  • A final Feasibility Study to confirm the Phase 1 PEA  was initiated and various technical and trade-off studes undertaken.
  • A Pilot Plant project to test and optimize the process plant flow sheet was initiated.
  • The Company submitted its Mining Permit application.
  • An Environmental Impact Statement (“EIS”) was completed and filed with the Niger Government.
  • The Mining Permit for the Dasa Project was issued on December 23, 2020.

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Global Atomic Announces Successful Completion of Dasa Uranium Project–Pilot Plant Program

Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”) (TSX:GLO, OTCQX:GLATF, Frankfurt:G12) is pleased to report on the successful completion of a Pilot Plant Program demonstrating the viability of the uranium recovery process detailed in the May 2020 Preliminary Economic Assessment (PEA) for the Dasa Project located in the Republic of Niger, West Africa.

The Pilot Plant was erected in August 2020 within the Process Research Ortech (PRO) facility in Canada and ran in a steady-state fashion over a 3-month period to process ore samples shipped from the Dasa Project. The ore samples were representative of the first 5 years of mining expected in the Phase 1 Dasa mine development plan. Samples representing the first 20 months of mining were processed through a first pilot campaign and had leach uranium recoveries of 92.8% at acid rates of 80 kg/t of ore. Deeper ore was then processed in a second campaign at the same acid rates but resulted in higher leach recoveries of 94.6%. On the deepest ore processed in the third campaign, acid rates of 80 kg/t of ore resulted in 97.8% uranium recovery. Given the increases in recoveries with increasing depth, acid rates were reduced to 70, 60, and 50 kg/t ore in campaign 3 with resulting uranium recoveries of 95.1%, 94.3%, and 94.1%, respectively.  These high recoveries at low acid rates for deeper ore are attributed to a reduction in organic matter content with increasing ore depth.

Solvent extraction based on the latest sodium carbonate stripping technology combined with a uranyl peroxide precipitation process resulted in near quantitative conversion of uranium from the leach into final uranyl peroxide yellow cake product. The yellowcake was dried or calcined to produce UO4 or U3O8, respectively, with low impurity levels without requiring further purification to produce these varying forms of saleable uranium concentrate.

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Global Atomic Announces Closing of C$12.5 Million “Bought Deal” Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”) (TSX:GLO, FRANKFURT: G12, OTCQX: GLATF) is pleased to announce that it has closed its previously announced “Bought Deal” private placement, including full exercise of the over-allotment option, for gross proceeds of C$12,500,000 (the “Offering”). Under the Offering, the Company sold 6,250,000 units of the Company (the “Units”) at a price of C$2.00 per Unit (the “Offering Price”). The Units were sold through a syndicate of underwriters led by Red Cloud Securities Inc. and included Cormark Securities Inc. (the “Underwriters”).

Each Unit is comprised of one common share in the capital of the Company (each a “Common Share”) and one half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable into one Common Share at a price of C$3.00 at any time on or before the date which is 18 months after the closing date of the Offering.

The Company intends to use the net proceeds raised from the Offering for the advancement of the Company’s Dasa uranium project in the Republic of Niger (the “Dasa Project”) and for general working capital and corporate purposes. The securities issued by the Company under the Offering are subject to a hold period of four months and one day following the closing date of the Offering.

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Global Atomic Announces C$10 Million Bought Deal Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”) (TSX:GLO, FRANKFURT: G12, OTCQX: GLATF) is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. (“Red Cloud”) pursuant to which Red Cloud, as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (the “Underwriters”) shall purchase for resale 5,000,000 units of the Company (the “Units”) at a price of C$2.00 per Unit (the “Offering Price”) on a “bought deal” private placement basis for gross proceeds of C$10,000,000 (the “Offering”). Each Unit shall be comprised of one common share in the capital of the Company (each a “Common Share”) and one half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall be exercisable into one Common Share at a price of C$3.00 at any time on or before the date which is 18 months after the closing date of the Offering.

The Company has granted the Underwriters an over-allotment option, exercisable up to 48 hours prior to the closing date, to purchase for resale up to 1,250,000 additional Units at the Offering Price to raise additional gross proceeds of up to C$2,500,000.

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Global Atomic Signs Uranium Marketing Agreement with Fuel Link Ltd

Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12), is pleased to announce it has entered into  an Agreement with Fuel Link Limited (“Fuel Link”), to provide uranium marketing services to the Company.

Fuel Link was founded by Mr Bahi Sivalingam in 2005, subsequent to his departure from Rio Tinto Plc.  While at Rio Tinto, Bahi was a Board member and Marketing Director  of Rio Tinto Mineral Services Limited and responsible for the sales from the Rössing Uranium Mine, a 10 million pound per year uranium operation located in Namibia, Africa. Post Rio Tinto,  Bahi was Director of Business Development for TradeTech, one of the Uranium industry’s leading market analysis and price reporters. For the eight years to 2020 he held the position of Commercial Director for TradeTech Energy, a US-based trading company, providing nuclear fuel supply solutions to the global market.

Over the past 23 years, Bahi has gained extensive knowledge of the uranium market and has developed commercial relationships with counterparties in all the major trading regions covering Europe, America and Asia. Based in the UK, Fuel Link is well positioned to provide the Company with the global marketing reach it requires as the Dasa Project is readied for production. Fuel Link joins Global Atomic at a pivotal time with Dasa having recently obtained  its Mining Permit and Environmental Compliance Certificate.

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Global Atomic Announces the Exercise of all Common Share Purchase Warrants

Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) announced the exercise of all common share purchase warrants issued pursuant to the Company’s Unit private placement of May 2020 and accelerated expiry date announced January 21, 2021.

A total of 2,769,167 Investor warrants and 149,000 Finder’s warrants were exercised for proceeds of C$2,453,000. The Company now has 155,679,283 common shares issued and no warrants outstanding.

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