News Releases
May 14, 2020

Global Atomic Announces Q1 2020 Results

Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, FRANKFURT: G12, OTCQX: GLATF) the multi-asset development company with cash flow from the BST facility in Turkey and one of the world’s premium uranium development assets, at the Dasa Project in the Republic of Niger, is pleased to announce its operating and financial results for the 3 months ended March 31, 2020.


  • A Preliminary Economic Assessment (“PEA”) of the Phase 1 plan for Dasa was summarized in a press release on April 15, 2020, indicating a 12 year mine life to produce 44.1 million pounds U3O8.
  • The PEA estimates cash costs of $16.72/lb U3O8 andan all-in sustaining cost of $18.39/lb U3O8.
  • Based on a U3O8 price of $35/lb, the after-tax NPV at 8% was estimated at $211 million for an after-tax IRR of 26.6%.
  • The average head grade of uranium processed in the Phase One plan is 5,396 ppm.
  • Spot uranium prices have increased to $33.50/lb U3O8, up 34% since the beginning of the year.
  • Ronald S. Halas, P.Eng., was appointed Chief Operating Officer in charge of building the Dasa Project.
  • The new Turkish plant continues to ramp up with improved operating efficiencies.
  • The Company’s share of the Turkish Joint Venture (“Turkish JV”) EBITDA was $0.8 million in Q1 2020.
  • The Turkish JV non-recourse debt was US $22.85 million at the end of Q1 2020.
  • The Company’s share of the Turkish JV loss was $1.2 million, impacted significantly by its $1.5 million share of the unrealized foreign exchange loss on the Turkish debt, attributable in large part to the decline in the Turkish Lira and the Canadian dollar relative to the US dollar.
  • Global Atomic continues to receive management fees and sales commissions from the Turkish JV, helping to offset corporate overhead costs.
  • Cash position as at March 31, 2020 was C$3.1 million.

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