Global Atomic Corp (Stock Symbols – TSX: GLO, OTCMKTS: GLATF) is a development stage uranium and production stage zinc concentrate businesses.
It owns 100% interest in the Dasa Uranium deposit that includes six exploration permits covering an area of approximately 289 square miles located in the Republic of Niger.
Through a 49% joint venture known as BST, the company has steady cash flow from processing electric arc furnace dust “EAFD” from local steel mills into zinc concentrates, which is sold to zinc smelters.
The Dasa Uranium project preliminary economic analysis (PEA) denotes a mine life of 12 years producing 44 million pounds of uranium at an all in sustaining cost (AISC) of $18.39 and a project internal rate of return (IRR) of 26.6% at a uranium price of $35 per pound.
The project is anticipated to produce an average of 4.4 million pounds of uranium per year during the life of this mine.
An environmental impact statement (EIS) for the Dasa project has been submitted to the government, and both geotechnical and hydrogeological studies were completed during the first half of 2020.
The company plans to submit is mining permit application during the third quarter of 2020.
The company has signed a memorandum of understanding (MoU) with Orano for the potential shipment of uranium ore after the project is placed into production.
Global Atomic Corporation was formerly known as Silvermet Inc and is headquartered in Toronto, Canada.
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