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Global Atomic (GLO) - 'Category Of One' Uranium Developer

Feb. 16, 2021 10:05 AM ETGlobal Atomic Corporation (GLATF)
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  • TSE: GLO.
  • Shares Outstanding: 151.76M.
  • Share price C$1.57 (13.01.2021).
  • Market Cap: C$238M.

Global Atomic is a Canadian resource company advancing the large, high-grade Dasa uranium deposit in the Republic of Niger. In addition, Global Atomic benefits from the dividend stream generated by its share in the Befesa Silver-met zinc concentrate production facility in Turkey.

We caught up with Stephen Roman, Chairman, President & CEO of Global Atomic Corp following a successful year for the company in 2020. Global Atomic received the mining permit for the Dasa project on 23rd December which happened very quickly since they submitted the development plan and application in September.

2020 Review & Big Moments for Global Atomic

Looking back to 2020, the two big moments for Global Atomic, in terms of the share price appreciation and of the market's understanding of the company, were the PEA and the approval of the mining permit just before Christmas, just prior to the election.

They had a good indication when they submitted their development plan that they were high on the list to get their permit approved fairly quickly because the government wanted to get specific items done before the election.

Moving Forward: Plans, Process, & Timing

Global Atomic plans to do a Bankable Feasibility Study on the phase 1 flank zone at Dasa to allow them to get into production early and they are working very diligently on this, hoping for completion by Q3/21. The mining permit allows them to move things forward on that front and they are currently completing the geo-tech drilling to finalise their mine plan and they have the cash to do all of this.

The pilot plant study is nearing completion where material has been shipped from the Dasa deposit to Canada and run through the pilot plant. The results will be coming out very soon and will be integrated into their Feasibility Study. We anticipate plenty of news flow during the early part of 2021 as they complete these initiatives.

The Dasa project already has the mining permit approved and the engineering work is being completed so the biggest barrier to getting into production would be raising sufficient financing. The Uranium market needs some indication that Uranium prices are moving upwards then more financing will become available. The main goal for Global Atomic is to complete the Bankable Feasibility Study to get the numbers out to the market. The whole Dasa deposit is 250Mlbs and the flank zone is about 45Mlbs thereabouts which is 18% - 20% of the deposit.

Read the full article here.

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