The Dasa project is a large, high-grade uranium deposit that lies within the Adrar Emoles III licence area, 105km south of the established uranium mining town of Arlit, in the Republic of Niger.
Q4 2022
  • A LOI was signed with a second utility to the Company to supply them with yellowcake starting in 2025
  • Underground development of the Dasa Mine began with an Opening Blast Ceremony
  • The final drilling update of probe results highlighted additional excellent intercepts and initial assay results 10% higher the corresponding initial probe results
Q3 2022
  • Based on positive results of Dasa’s 15,000-meter drilling program that began in September 2021, the program was extended and a revised MRE is expected in Q1 2023 with a new mine plan for Phase 1 to follow
  • Incorporated SOMIDA (Société Minière de Dasa S.A.) Global Atomic’s mining subsidiary in Niger, under which Dasa will operate
  • Enernet Global commenced early engineering for a hybrid power plant for the Dasa Project
  • Completed Box-Cut excavation and advanced significant infrastructure to support underground mine development
  • Signed agreements with Development Consultants Private Limited of Kolkata, India, and Lycopodium Minerals Canada Ltd. to commence the basic and detailed engineering, procurement and Project Management of the Dasa Mine processing plant in the Republic of Niger
Q2 2022
  • Formed a banking syndicate comprised of North American financial institutions including Export Development Canada, to finance the Dasa Uranium Project
  • Entered into a Letter of Intent to supply a major North American utility with a total of 2.1 million pounds U3O8 from 2025 to 2030
Q1 2022
  • Initiated Box-Cut excavation and construction of surface infrastructure
Q4 2021
  • Completed Feasibility Study, incorporating the Flank Zone, with an Initial Phase 1 mine development over 12 years producing 45.4 million pounds and an after-tax NPV8 of USD $157M & an IRR of 22.7% using a uranium price of USD $35/lb
Q3 2021
  • Global Atomic confirms 90% ownership of Dasa Project
  • Canadian firm CMAC-Thyssen engaged to collar the Portal and begin underground development in Q2 2022
  • Began 15,000-meter program of both in-fill and step-out drilling to:
    • Increase Phase 1 resources
    • Upgrade Phase 2 resources
Q2 2021
  • Engaged HCF International Advisers to assist in project debt financing
Q1 2021
  • Granted Environmental Compliance Certificate
  • Extended all 6 Exploration Permits in Niger until the end of 2023
  • Signed Fuel Link agreement to market Yellowcake
  • Pilot Plant results confirm Dasa uranium recovery process
Q4 2020
  • Granted Mining Permit by Government of Niger
Q3 2020
  • Commenced Pilot Plant in Canada
  • Completed Development and Operational Plan
  • Completed Hydrogeology Study
  • Submitted the Mining Permit Application
  • Commenced preliminary discussions towards project financing
Q2 2020
  • Filed new PEA, incorporating the Flank Zone, with an Initial Phase 1 mine development over 12 years producing 44 million pounds and an after-tax NPV8 of USD $211M & an IRR of 26.6% using a uranium price of USD $35/lb
  • Completed Geotechnical Study
  • Shipped ore samples to Canada for testing
  • Announced Flank Zone results and a significant resource upgrade for Dasa
  • Invested over USD $50 million on Niger exploration since field work began in 2007
  • Discovered the high-grade Flank Zone
  • Published initial Preliminary Economic Assessment (“PEA”) to mine Dasa via Open Pit
  • Signed MOU with Orano Mining for Direct Shipping ore to nearby mills
  • Merged GAFC with Silvermet Inc., holder of BST Joint Venture, to become a wholly-owned subsidiary of publicly traded Silvermet
  • Became a Positive Cash Flow company
  • Changed name to Global Atomic Corporation
2011 & 2012
  • Raised significant funding through JP Morgan, Macquarie and Investec to explore and develop the Dasa discovery
  • Focused exploration efforts on Dasa leading to the delineation of a large, high-grade resource
  • Discovered the Dasa deposit on Adrar Emoles 3
  • Work on the Isakanan deposit on the Adrar Emoles 4 permit indicated potential suitability for In Situ leach recovery (ISR target)
  • Signed Mining Agreements on 4 permits known as Tin Negouran 1, 2, 3 & 4 and on two permits known as Adrar Emoles 3 & 4
  • Began exploration on the Tin Negouran permits and a surface deposit was delineated
  • Incorporated Global Uranium Corporation (“GUC) to explore & develop uranium deposits
  • Changed name to Global Atomic Fuels Corporation (“GAFC”)