Dear Shareholders, Stakeholders and Friends,
In view of the COVID-19 pandemic and turbulent
financial markets, I want to provide an update on our activities at
Global Atomic Corporation.
Our sympathies are with anyone directly or
indirectly affected by COVID-19, whether they are a family member,
friend, first responder, or medical professional. We believe
that the steps various nations are adopting to contain this
outbreak have consequences, and we hope the best for you and your
families.
Our business is largely unaffected at this
time. Even though we have closed our office, our team is
working remotely where possible. Our continued focus on the
health and safety of our employees and consultants, the safety of
our operations, and the safety of the communities in which we live
and work remains paramount.
To that end, we have eliminated unnecessary
travel, instituted health protocols for working together, and
ensured that our employees are permitted to take time off due to
illness or the illness of those around them without
penalty. Where we can do so, we have instituted remote
working arrangements for our team using systems currently
available. As a result, our business continues, without
interruption.
At our operations in Turkey and in Niger, we
have implemented education to promote hygienic practices and limit
social interactions to protect the employees and local communities
in an effort to prevent the spread of the virus. On the Dasa
uranium project, an Optimized Preliminary Economic Assessment will
be published in Q2, 2020 and hydrogeological and environmental
impact assessment studies are underway. In Turkey, BST is operating
normally.
These are turbulent times. We wish you and
your families good health and safety. Know that our
team is safe and we continue working towards advancing our business
to prepare for a time when business, industry, and financial
markets return to a normal level.
Sincerely,
Stephen G. RomanChairman, President &
CEO
About Global AtomicGlobal
Atomic Corporation is a TSX listed company that provides a unique
combination of high-grade uranium development and cash flowing zinc
concentrate production. The Company’s Uranium Division includes six
exploration permits in the Republic of Niger covering an area of
approximately 750 km2. Uranium mineralization has been identified
on each of the permits, with the most significant discovery being
the Dasa deposit situated on the Adrar Emoles III concession,
discovered in 2010 by Global Atomic geologists through grassroots
field exploration. The Dasa deposit is currently undergoing
feasibility studies and an EIS prior to applying for a Mining
Permit in Q4, 2020.
Global Atomic’s Base Metals Division holds a 49%
interest in the Befesa Silvermet Turkey, S.L. (“BST”) joint
venture, which operates a new, state-of-the art processing
facility, located in Iskenderun, Turkey, that converts Electric Arc
Furnace Dust (“EAFD”) into 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”) listed on the
Frankfurt exchange under ‘BFSA’, holds a 51% interest in and is the
operator of the BST joint venture. Befesa is a market leader in
EAFD recycling, capturing approximately 50% of the European EAFD
market, with facilities located throughout Europe and Asia.
The new BST Joint Venture plant is expected to
double annual production of zinc from 30 million lbs to 60 million
lbs supported by EAFD supply currently available for processing in
Turkey.
Key contacts:
Stephen G. Roman
Merlin Marr-JohnsonChairman, President & CEO
Executive VPTel: +1 (416)
368-3949
Tel: +44 20 7389 5023 Email:
sgr@globalatomiccorp.com
Email: mmj@globalatomiccorp.com
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
Atomic’s development potential and timetable of its operating,
development and exploration assets; Global Atomic’s ability to
raise additional funds necessary; the future price of uranium; the
estimation of mineral reserves and mineral resources; conclusions
of economic evaluation; the realization of mineral reserve
estimates; the timing and amount of estimated future production,
development and exploration; costs 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", “targets”,
"expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". All information contained in this news release, other
than statements of current and historical fact, is forward looking
information. Forward-looking statements 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 as of the date such statements
are made. Although management of Global Atomic has attempted to
identify important factors that could cause actual results to
differ materially from those contained in 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 on forward-looking statements. Global Atomic does not
undertake to update any forward-looking statements, except in
accordance with applicable securities laws. Readers should also
review the risks and uncertainties sections of Global Atomic’s
annual and interim MD&As.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Global Atomic (TSX:GLO)
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