Name of the Project
Dasa uranium project.

Location
Tim Mersoï basin, Niger.

Project Owner/s
Global Atomic Corporation.

Project Description
A feasibility study has confirmed that the Dasa project is economically compelling, even at $35/lb of uranium. The study focused solely on Phase 1.

The project has a mineral reserve of 4.3-million tonnes grading 5 184 parts per million of uranium.

The project is expected to recover 45.4-million pounds of uranium over 12 years.

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, 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
The project aims to produce its first yellowcake for sale by January 2025.

Latest Developments
Global Atomic has broken ground at its Dasa uranium project, almost two months ahead of schedule.

The board decided in November to proceed with the Dasa project, after a feasibility study had determined that the project was economically viable at a base price assumption of $35/lb.

Using local contractors and heavy equipment, Global Atomic has started with site infrastructure development, including road upgrades to connect the mine camp to the main highway, and new roads to the mine and mill sites, with the box and portal area cleared for excavation to begin in December.

The company is also building warehousing, and employee housing development is under way.

Global Atomic has signed a definitive contract with CMAC-Thyssen Mining to start operations at the Dasa site in April this year. CMAC will collar the portal and complete more than 8 000 m of horizontal and vertical underground mine development within the ensuing 24 months to prepare stopes for commercial operations.

To support the Dasa project, the company has begun the hiring process, targeting the experienced labour force available in Niger, with interviews and the initial hiring of personnel under way. In Niger's capital of Niamey, the company has secured living accommodations and a head office for the firm's local mining subsidiary, to be named Société Minière Dasa (Somida).

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

Contact Details for Project Information
Global Atmic Corporation, tel +1 416 368 3949 or email info@globalatomiccorp.com.