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.
Q2 2025
  • On May 6, 2025, the Dasa Mine achieved and celebrated 1,000 days with no Lost Time Injury (“LTI”)
Q1 2025
  • Waste development tonnes brought to surface include medium grade (3,000 to 5,000 ppm), low grade (1,300 to 3,000 ppm) and mineralized waste (240 to 1,300 ppm), all of which can be processed during the commissioning of the plant
  • Ramping and underground level development will continue to facilitate stope access on five levels in time for commissioning of the processing plant
  • The Fresh Air Raise and Return Air Raise have been completed and fans installed to provide greater ventilation required as mine development is extended
  • Procurement of long-lead equipment is complete and many of these components have been manufactured and delivered to the Dasa site
  • Transport through Nigeria has proven to be an effective alternative route, providing more flexibility in bringing materials and equipment to site
  • The Company’s Engineering, Procurement and Contract Management (“EPCM”) contractors are completing the final detailed engineering and ordering the remaining components for the Processing Plant
  • The Company continued earthworks in Q1 2025 to prepare the site for construction of the Processing Plant. To date, multi-tiered earthworks for the acid plant are complete and have been handed over to the civil works contractors to prepare foundations prior to equipment installation
  • The Company is completing additional housing for employees and construction crews including a new 260-person housing facility that includes recreation facilities
2024
  • On December 19, 2024, the Company formalized a fourth off-take agreement with a European nuclear power utility representing 260,000 pounds U3O8 each year for three years
  • At the end of 2024 the Company had contracted 43% of projected uranium production through the first five years of operations. These contracts represent a small percentage (11.5%) of the 68.1 million pounds of U3O8 production in Dasa’s current 23-year mine plan.
  • Earthworks for the acid plant was completed in Q4 2024 and handed over to the civil works contractors to prepare the foundation
  • Underground development, underway since November 2022, has now reached the ore zone with development ore now being hauled to surface
  • Paving of the underground ramp was completed to ensure durability as this ramp will be the primary access by the mining team and the haul route for ore delivery to surface for stockpiling and processing
  • Underground electrical services and water management infrastructure upgrades are underway
  • Fabrication of one of the major processing plant components; the Acid Plant, has been completed and shipped to site
2023
  • The Company released the results of its Dasa Uranium Project 2024 Feasibility Study (“FS”) which confirmed an extension of the Mine Plan from 12 years to 23.75 years (2026-2049), a 50% increase in Mineral Reserves to 73 million pounds U3O8 and an increase in total production by 55% to 68.1 million pounds U3O8. Using an average uranium price of $75/lb U3O8 the FS shows an NPV8 of US$917 million, an IRR of 57% and a payback period of 2.2 years
  • The Company received another LOI for the procurement of uranium from the Company’s Dasa Project, representing the supply of up to 3.5 million pounds U3O8 within a multi-year delivery window beginning in 2026
  • The Niger military initiated a change in government on July 26, 2023
  • The U.S. Government has subsequently expressed continued support for Dasa’s project financing and a U.S. development bank is continuing to proceed towards funding the Dasa Project
  • Although the initial reaction to the change in government included the closure of surrounding borders and Niger air space, the air space has re-opened with international flights resuming operations and all land borders have been re-opened except for Benin
  • The Company has successfully initiated an alternate route to deliver supplies from the port of Lomé in Togo and overland through Burkina Faso
  • In May the Company updated its Mineral Resource Estimate (”MRE”) for its Dasa Project in the Republic of Niger, which increase the Indicated Resource by 50% using a cut-off grade of 1,500 ppm eU3O8
  • In May the Company formalized its June 2022 LOI by signing a definitive agreement with a second major North American utility for their procurement of up to 2.1 million pounds U3O8 from Dasa within a multi-year delivery window beginning in 2025
  • Long-lead items were selected and ordered
  • Surface and underground mine infrastructure including mine dry, ventilation infrastructure, electrical and plumbing installations commenced
  • The Company began extensive earthworks in Q2 2024 to prepare the site for construction of the Dasa processing plant as well as expansion of the Dajy Camp to house employees and construction crews
  • The Company revised its Dasa Project, Phase 1, Feasibilty Study which:
    • confirmed a reserve for the Dasa Project of 4.1 million tonnes grading 5,267 ppm for a total of 47.2 million pounds U3O8
    • outlines an initial, Phase 1, 12-year mine schedule at a production throughput of 1,000 tonnes per day to produce 44.1 million pounds U3O8
    • estimates cash costs, including royalties and all Niger off-site costs, of US$19.02/lb U3O8 and an all-in sustaining cost of US$22.13/lb U3O8
    • estimates initial capital expenditures to be US$208 million
    • Calculated for Phase 1 using a U3O8 price of US$35/lb an after-tax NPV8 of US$147 million and an after-tax IRR of 22.3% and using a U3O8 price of US$50/lb an after-tax IRR of 44.4% and at US$60 the after-tax IRR would be 56.9%
2022
  • An LOI was signed with a second utility for the Company to supply them with yellowcake
  • Underground development of the Dasa Mine began in November with an Opening Blast Ceremony attended by Niger local, regional and national government representatives
  • The final drilling update of probe results highlighted additional excellent intercepts and initial assay results 10% higher than the corresponding initial probe results
  • Based on positive results of Dasa’s drilling program that began in September 2021, the program was extended to 16,000 meters
  • Global Atomic confirms 80% ownership of SOMIDA with the Niger Government owning the other 20%: 10% on a free-carry basis as specified in Niger’s Mining Code and 10% on fully-paid basis obligated the government to cover 10% of all project costs
  • Incorporated SOMIDA (Société Minière de Dasa S.A.) Global Atomic’s mining subsidiary in Niger, under which Dasa will operate
  • Completed Box-Cut excavation and advanced significant infrastructure to support underground mine development
  • Signed agreements with Development Consultants Private Limited (“DCPL”) of Kolkata, India to commence the basic and detailed engineering, procurement and Project Management of the Dasa Mine processing plant
  • Initiated discussions with a U.S. development bank to provide a debt facility to finance the Dasa Uranium Project
  • Entered into an LOI to supply a major North American utility with a total of 2.1 million pounds U3O8 from 2025 to 2030
  • Initiated Box-Cut excavation and construction of surface infrastructure
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 US$157M & an IRR of 22.7% using a uranium price of US$35/lb
  • Canadian firm CMAC-Thyssen engaged to collar the Portal and begin underground development in 2022
  • Began 15,000-meter program of both in-fill and step-out drilling to:
    • Increase Phase 1 resources
    • Upgrade Phase 2 resources
  • Engaged HCF International Advisers to assist in project debt financing
  • 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
2020
  • Granted Mining Permit by the Government of Niger in December
  • Submitted the Mining Permit Application in September
  • Commenced Pilot Plant in Canada
  • Shipped ore samples to Canada for testing
  • Completed Development and Operational Plan
  • Completed Hydrogeology and Geotechnical Studie
  • Commenced preliminary discussions towards project financing
  • 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 US$211M & an IRR of 26.6% using a uranium price of US$35/lb
2019
  • Announced Flank Zone results and a significant resource upgrade for Dasa
2018
  • 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
2017
  • 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
2010
  • Discovered the Dasa deposit on Adrar Emoles 3
2009
  • Work on the Isakanan deposit on the Adrar Emoles 4 permit indicated potential suitability for In Situ leach recovery (ISR target)
2007
  • 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
2005
  • Incorporated Global Uranium Corporation (“GUC) to explore & develop uranium deposits
  • Changed name to Global Atomic Fuels Corporation (“GAFC”)