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.
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 and mine plan for Phase 1 are expected in early 2023
  • 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
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”)