| Announcement Date: | 2021-11-15 |
|---|---|
| Announcement Type: | Feasibility Study |
| Announcement Code: | NI43-101 |
| Company name: | Global Atomic Corp. |
| Project name: | DASA |
| Location: | Niger |
| Commodities: | Uranium |
| Highlight: | Feasibility Study results incl. post-tax NPV (8%) of US$157M & IRR of 22.7% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Toronto, ON, November 15, 2021: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) announced today the results of the Phase 1 Dasa Project Feasibility Study (the “Study”) for the Company’s Dasa Uranium Project (the “Project”) in the Republic of Niger. The Study confirms that the Project is economically compelling, even at a price of $35 per pound U3O8. Based on the Study, the strong uranium market and anticipated uranium supply deficits, the Board of Directors have made a production decision to proceed with the Dasa Project. The Study is focused solely on Phase 1, primarily comprised of the Flank Zone, and represents the initial 12 years of the Project and less than 20% of the Dasa mineralization, which has been delineated through 160,000 metres of drilling since 2010. The Study is an update from the Preliminary Economic Assessment (the “PEA”) filed in May 2020. The Dasa Project is located in Niger’s Tim Mersoï Basin, which has successfully produced uranium for export to France, the United States and other countries for 50 years, contributing to Niger’s status as the 5th largest exporter of U3O8 for use in nuclear power plants. |
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