TORONTO, Nov. 7, 2022
/CNW/ - Global Atomic Corporation ("Global Atomic" or the
"Company") (TSX: GLO) (OTCQX: GLATF) (Frankfurt: G12), is pleased
to announce that underground development has officially commenced
at the Dasa Uranium Project in the Republic of Niger.
On November 5, 2022, Global Atomic
hosted over 800 people for the Opening Blast Ceremony at the Dasa
Mine which marks a significant milestone towards producing
yellowcake for delivery to utilities in early 2025. The
successful execution of this event on schedule, Dasa is on track to
deliver considerable benefits to Niger, particularly for the people of the
Agadez Region. Benefits include:
- direct employment, training and apprenticeship opportunities
for local youth,
- new employment for experienced mine workers displaced by the
closing of the Cominak mine in 2021,
- indirect employment through local supplies to the Dasa
Project,
- continued support for local communities, including:
-
- drilling of wells to access water from underground
aquifers,
- food supplies during periods of draught,
- medical supplies,
- education and training,
- local business opportunities to supply food and services to the
mine site.
Stephen G. Roman, President &
CEO, stated, "We appreciate the hundreds of people who attended
Dasa's Opening Blast Ceremony. On behalf of the Global Atomic
team and Board of Directors, I specifically acknowledge the support
of senior government leaders from the Republic of Niger including Prime Minister Mahamadou Ouhoumoudo, Rhissa Ag Boula, Minister of State and Madame
Hadizatou Ousseini Yacoubas, Minister of Mines as well as these
senior leaders from the Adadez Region Magagi Dada, Governor and
Mohamed Anako, Regional Council
Chair. We look forward to a long-term partnership in the
development and operation of our outstanding new uranium mine which
will benefit all Nigeriens".
The event was attended by the following dignitaries and
interested groups from Niger,
indicative of the strong local support for the Dasa Project.
- Prime Minister
- Minister of State
- Minister of Mines
- 6 other Ministers
- Members of Parliament
- Agadez Governor
- Agadez Regional Council Chairman
- Secretary General at the Office of President
- Many Presidential and prime ministerial Counselors
- Agadez Sultan representative
- Prefects
- Mayors
- Local Counselors
- Administration Officers
- Company representatives from Orano Mining, SOMAÏR, COMINAK
and SONICHAR
- Businesspeople
- Area and Village Chiefs
- Civil Society and NGO Representatives
- Media
About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) is a
publicly listed company that provides a unique combination of
high-grade uranium mine development and cash-flowing zinc
concentrate production.
The Company's Uranium Division includes four deposits with the
flagship project being the large, high-grade Dasa Project,
discovered in 2010 by Global Atomic geologists through grassroots
field exploration. With the issuance of the Dasa Mining Permit and
an Environmental Compliance Certificate by the Republic of
Niger, the Dasa Project is fully
permitted for commercial production. The Phase 1 Feasibility Study
for Dasa representing approximately 20% of the known resource was
filed in December 2021 and estimates
Yellowcake production to commence by the end of 2024. Mine
excavation began in Q1 2022.
Global Atomic's Base Metals Division holds a 49% interest in the
Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a
modern zinc production plant, located in Iskenderun, Turkey. The plant recovers zinc from Electric
Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide
concentrate which is sold to zinc smelters around the world. The
Company's joint venture partner, Befesa Zinc S.A.U. (Befesa) holds
a 51% interest in and is the operator of the BST Joint Venture.
Befesa is a market leader in EAFD recycling, with approximately 50%
of the European EAFD market and facilities located throughout
Europe, Asia and the United
States of America.
The information in this release may contain forward-looking
information under applicable securities laws. Forward-looking
information includes, but is not limited to, statements with
respect to completion of any financings; Global Atomics'
development potential and timetable of its operations, development
and exploration assets; Global Atomics' ability to raise additional
funds necessary; the future price of uranium; the estimation of
mineral reserves and resources; conclusions of economic evaluation;
the realization of mineral reserve estimates; the timing and amount
of estimated future production, development and exploration; cost
of future activities; capital and operating expenditures; success
of exploration activities; mining or processing issues; currency
exchange rates; government regulation of mining operations; and
environmental and permitting risks. Generally,
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "is expected",
"estimates", variations of such words and phrases or
statements that certain actions, events or results "could",
"would", "might", "will be taken", "will begin", "will include",
"are expected", "occur" or "be achieved". All information
contained in this news release, other than statements of current or
historical fact, is forward-looking information.
Statements of forward-looking information are subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Global Atomic to be materially different from those expressed or
implied by such forward-looking statements, including but not
limited to those risks described in the annual information form of
Global Atomic and in its public documents filed on SEDAR from time
to time.
Forward-looking statements are based on the opinions and
estimates of management at the date such statements are made.
Although management of Global Atomic has attempted to identify
important factors that could cause actual results to be materially
different from those forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance upon
forward-looking statements. Global Atomic does not undertake
to update any forward-looking statements, except in accordance with
applicable securities law. Readers should also review the
risks and uncertainties sections of Global Atomics' annual and
interim MD&As.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this news
release.
SOURCE Global Atomic Corporation