Name of the Project
Dasa uranium project.

Location
Tim Mersoï basin, Niger.

Project Owner/s
Uranium project developer Global Atomic Corporation.

Project Description
A 2021 feasibility study, focusing solely on Phase 1, has confirmed the project as economically compelling, even at $35/lb of uranium.

Phase 1 will have a 12-year mine schedule at a production throughput of 1 000 t/d to produce 45.4-million pounds of uranium.

The project has a maiden reserve of 4.1-million tonnes grading 5 267 parts per million for a total of 47.2-million pounds of uranium.

The project will use operationally proven uranium-processing techniques comprising dry semiautogenous grinding and classification, pug-leaching and curing, a uranium extraction circuit (repulping and solid/liquid separation), a uranium purification and precipitation circuit, as well as drying and packaging.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $157-million and an internal rate of return of 22.7%, with a payback of five years.

Capital Expenditure
$208-million, including a 10% contingency.

Planned Start/End Date
Global Atomic reported in January 2025 that the project remained on track to deliver its first yellowcake production by early 2026.

Latest Developments
Global Atomic has announced a nonbrokered private placement to raise up to C$30-million as it continues to advance its flagship Dasa project. The offering encompasses the sale of up to 37.5-million units at C$0.80 a unit.

Each unit includes one common share and one share purchase warrant, with the warrant granting the holder the option to purchase an additional common share at C$1.00 for 36 months. Red Cloud Securities is acting as a finder for the private placement, which is open to institutional and retail investors.

The company plans to use the proceeds to further develop the project and for general working capital. 

Global Atomic president and CEO Stephen Roman has said that the company aims to secure major funding in the first quarter of 2025.

The private placement has attracted an investor, which has placed the lead order in the offering: "We are pleased to have a new, significant US-based institutional investor whose investment is the lead order in the private placement, and [we] have extended these favourable terms to all our shareholders, both institutional and retail," Roman has indicated.

Key Contracts, Suppliers and Consultants
CMAC-Thyssen Mining (collaring the portal and underground mine development).

Contact Details for Project Information
Global Atomic Corporation, tel +1 416368 3949 or email info@globalatomiccorp.com.