Global Atomic to break ground at Niger uranium mine in January – by Mariaan Webb ( -November 18, 2021)

Uranium developer Global Atomic would move ahead with construction of its Dasa uranium project, in Niger, and would break ground in January, president and CEO Stephen Roman said this week, announcing the results of its feasibility study.

The study confirmed that the Dasa project was economically compelling, even at a price of C$35/lb of uranium oxide. The decision to proceed was based on the feasibility study, the strong uranium market and anticipated supply deficits, the company stated.

The study is focused solely on Phase 1, primarily comprised of the Flank zone, and represents the initial 12 years of the project and less than 20% of the Dasa mineralisation, which has been delineated through 160 000 m of drilling since 2010.

The study delivered a net present value (NPV) of C$157-million and an aftertax internal rate of return (IRR) of 22.7%. This compares with the 2020 preliminary economic assessment (PEA) NPV of C$211-million and the IRR of 26.6%.

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