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Global Atomic Corp.
Summary
| Project: | Dasa | |
|---|---|---|
| Deposit: | Dasa | |
| Location: | Niger | |
| Commodities: | Uranium | |
| Date: | 10/23/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-10-2018: Global Atomic Corp. announces a PEA report for its Dasa deposit at the Dasa project. PEA results incl. Post-tax NPV of US $299M (8%), IRR of 25%, 15yr LOM at the project. Toronto, ON, October 23, 2018: Global Atomic Corporation (“Global Atomic | |
| Resources: | (Resource): 9.59Mt @ 3068ppm eU3O8 (Ind.), 8.44Mt @ 2600ppm eU3O8 (Inf.) | |
| CP/QP: | [Overall Report]: George Flach (Internal) | |
| ABSTRACT: | Toronto, ON, October 23, 2018: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX-V: GLO, FRANKFURT: G12) is pleased to announce the results of the Preliminary Economic Assessment (“PEA”) on the DASA Project (“DASA” or the “Project”), located in the Republic of Niger. A summary of the PEA is provided below, including opportunities being explored through an alternate mining strategy to accelerate development of the Project for early mining. All figures are stated in U.S. dollars, unless otherwise stated Stephen G. Roman, President and CEO of Global Atomic, commented, “The DASA uranium project is a Tier 1 project in a proven uranium mining jurisdiction where accelerated permitting is possible. The PEA demonstrates the economic potential of the Project and our agreement with Orano allows us to pursue ways to fast track the Project to early mining at current commodity prices.” PEA SUMMARY The PEA was completed by CSA Global Pty. Ltd. (“CSA Global”) with the objective to assess the economic and technical viability of uranium production at DASA as an integrated operating facility to mine and recover a uranium concentrate on the property, referred to as the DASA Standalone Scenario in this news release. As a “value opportunity”, Global Atomic also requested CSA Global to study the Alternative Mining Strategy, whereby the Company could achieve positive cash flow with minimal up front capital by selling mineralized rock directly to Orano as per a Memorandum of Understanding the Company has with Orano and the Company believes it represents a compelling case at current uranium prices. Price Assumptions A uranium price of US$50/lb U3O8 was chosen for the PEA, consistent with the consensus long-term spot price estimate as reported by industry analysts. | |
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