Global Atomic shares jump on permit for Dasa project

Bruno Venditti | December 24, 2020 | 4:44 pm News Africa Uranium 
Global Atomic shares jump on permit for Dasa project
Dasa uranium project. (Credit: Global Atomic)

Global Atomic (TSX: GLO) has received the mining permit for its Dasa uranium project in Niger.

The company intends to initiate production based on the “Phase I” operations scenario outlined in a PEA released in May 2020, producing 44 million lbs U3O8 at 5,396 parts per million (0.54%) in 12 years, with annual production of 4.4 million pounds U3O8 at a cash cost of $16.72 per pound and all-in sustaining cost (AISC) of $18.39 per pound.

“With this Permit and continuing positive results from our ongoing work programs, we are enthusiastically advancing the Dasa Project, now completing the final design and engineering required to build the
Project,” said Global Atomic CEO Stephen G. Roman.

“Our Phase I mine plan targets high-grade mineralization starting 70 metres below surface and provides a low capex route to production using conventional underground mining and processing technology,”

“The phase I mine plan also provides ready access to the overall contained uranium inventory of over 200 million pounds in the mine’s deeper horizons.”

Republic of Niger is the world’s 5th largest uranium producer.

Midday Thursday, Global Atomic’s stock was up 30% on the TSE. The company has a C$245 million market capitalization.

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