TORONTO, Aug. 19,
2024 /CNW/ - Global Atomic Corporation ("Global
Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT:
G12) is pleased to announce that a letter was issued by the
Government of the Republic of Niger on August 15,
2024, in which President Tiani and the Council of Ministers
confirmed their support for Global Atomic and the Dasa Project.
In the letter translated below, the Government states that…
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Mr. President and Chief
Executive Officer,
The Conseil National
pour la Sauvegarde de la Patrie Chairman, Head of State, His
Excellency Brigadier General ABDOURAHAMANE TIANI, has been informed
of you investing in Niger's mining sector, particularly in the DASA
uranium project, and thanks you for your interest.
The Head of State has
instructed his Cabinet, the Minister of Mines and all Nigerien
stakeholders in the sector to facilitate the implementation of your
projects and investments in accordance with the regulations in
force and following a win-win approach.
The DASA project,
which will be sustainably integrated into the national economy, is
expected to play an important role as a cornerstone for
socio-economic development. As such, Niger's highest authorities
support it totally.
Finally, as your
company has always complied with our country's regulations, I would
ask you to keep on doing so. That guarantees the continuity of our
partnership.
We assure you that all
that is necessary will be done to ensure that the State provides
the best possible support for SOMIDA's DASA project and I would
like to extend you, Mr. President and CEO, my best
wishes.
Best
regards,
Dr SOUMANA
BOUBACAR
Minister, Director of
the Cabinet
Copied to:
SP/CNSP: Permanent
Secretary of CNSP – For information
PCNSP/DIRCABA: Deputy
Head of Staff of the President – For information
CAB/PM: Prime Minister
Office – For further information
M. Mines: Mines
Ministry – For follow-up
PCNSP/SGP: Presidency
Secretary General – For information
PCNSP/SGP/A: Deputy
Presidency Secretary General – For information
ANPIPS: National Agency
in charge of Strategic Investment Projects. – More
information
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President and CEO of Global Atomic, Stephen Roman, stated, "This letter confirms
what we've been telling all our stakeholders about the strong
support from the Government of Niger for our Dasa Project and our significant
progress in its development to date. The inclusion of ANPIPS
(National Agency in Charge of Strategic Investment Projects) in the
Minister's letter, confirms Dasa is considered a strategic
investment for the Republic of Niger."
"The Letter highlights that we have always complied with
Niger's regulations. The Mines
Minister, during his site visit in May
2024, witnessed our commitment to predominately populate our
local management and operating staff from Niger's workforce and prioritize Niger companies for the supply of goods and
services, where practical."
"We are pleased to see that the government recognizes not
only the socio-economic benefits that accrue to Niger from Dasa, but also the excellent ESG
work we have been doing since 2008."
"We continue to develop the Dasa Project and look forward to
bringing the mine and the processing plant into production at the
end of 2025, for delivery of yellowcake to utilities in the U.S.
and other countries in early 2026."
About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) is a
publicly listed company that provides a unique combination of
high-grade uranium mine development and cash-flowing zinc
concentrate production.
The Company's Uranium Division is currently developing the fully
permitted, large, high grade Dasa Deposit, discovered in 2010 by
Global Atomic geologists through grassroots field exploration. The
"First Blast Ceremony" occurred on November
5, 2022, and commissioning of the processing plant is
scheduled for Q1, 2026. Global Atomic has also identified 3
additional uranium deposits in Niger that will be advanced with further
assessment work.
Global Atomic's Base Metals Division holds a 49% interest in the
Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a
modern zinc recycling plant, located in Iskenderun, Türkiye. The
plant recovers zinc from Electric Arc Furnace Dust (EAFD) to
produce 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) holds a 51% interest in and is the
operator of the BST Joint Venture. Befesa is a market leader in
EAFD recycling, with approximately 50% of the European EAFD market
and facilities located throughout Europe, Asia
and the United States of
America.
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 Atomics'
development potential and timetable of its operations, development
and exploration assets; Global Atomics' ability to raise additional
funds necessary; the future price of uranium; the estimation of
mineral reserves and resources; conclusions of economic evaluation;
the realization of mineral reserve estimates; the timing and amount
of estimated future production, development and exploration; cost
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", "is expected",
"estimates", variations of such words and phrases or
statements that certain actions, events or results "could",
"would", "might", "will be taken", "will begin", "will include",
"are expected", "occur" or "be achieved". All information
contained in this news release, other than statements of current or
historical fact, is forward-looking information.
Statements of forward-looking information 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 at the date such statements are made.
Although management of Global Atomic has attempted to identify
important factors that could cause actual results to be materially
different from those 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 upon
forward-looking statements. Global Atomic does not undertake
to update any forward-looking statements, except in accordance with
applicable securities law. Readers should also review the
risks and uncertainties sections of Global Atomics' annual and
interim MD&As.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this news
release.
SOURCE Global Atomic Corporation