Name of the Project
Dasa uranium project.

Location
Tim Mersoï basin, Niger.

Project Owner/s
Global Atomic Corporation.

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

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 broke ground on the Dasa project at the end of 2021 and aims to produce its first yellowcake for sale by January 2025.

Latest Developments
Global Atomic has received a letter of interest from Export Development Canada (EDC), confirming its interest in working with the company to finance the Dasa uranium project.

EDC has indicated a potential participation, at typical bank rates, for a greenfield mining project of up to $75-million, to form the cornerstone of what is expected to be a syndicate of three banks.

Global Atomic aims to complete the Dasa project financing arrangements in the fourth quarter of 2022.

CEO Stephen Roman has said that the company continues to move forward on developing and expanding the project.

He has noted that recent drilling continues to enhance what is already the biggest, highest-grade uranium deposit under development in Africa. Following a mineral resource estimate update, a revised mine plan will be developed and the reserve statement updated; it is expected that this will result in an increase in Phase 1 ore reserves and lower operating costs.

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.