TORONTO, March 26, 2026 /CNW/ – Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX:GLO) (OTCQX:GLATF) (FRANKFURT: G12) announced today its operating and financial results for the year ended December 31, 2025. For more detail, please refer to the Consolidated Financial Statements and Management’s Discussion and Analysis for the year ended December 31, 2025, on the Company’s website at www.globalatomiccorp.com.
Stephen G. Roman, President and CEO of Global Atomic, commented, “During 2025, development at the Dasa Uranium Project advanced significantly. Since the First Blast Ceremony on November 5, 2022, underground mine development and surface infrastructure have been considerably de-risked, moving the Project closer to production. To maintain our construction schedule, we completed several equity financings and continue to advance debt/JV options to eliminate further equity dilution.”
“On March 18th, the Dasa Project reached one million hours without a lost time incident, a tremendous achievement by our construction crews that reflects the commitment, discipline, leadership and safety culture developed within our entire team. The Government of Niger remains strongly supportive of Dasa, recognizing our ESG practices and achievements, our local engagement and the project’s growing employment and social benefits created in the Agadez region.”
OUTLOOK
Dasa Uranium Project
- The Company is actively engaged with a U.S. Development Bank (the “Bank”) to establish a debt facility to aid in financing Dasa’s development costs.
- While the Bank works through its review and approval process, the Company continues negotiations with a potential joint venture (“JV”) partner as an alternative financing option. This potential JV transaction contemplates the acquisition of a minority interest in the Dasa project.
- The Company is also pursuing other non-equity funding options.
- Dasa’s development has no material reliance on shipping impacted by the Middle East conflict. Niger supplies 100% of Dasa’s diesel fuel requirements from local oil and refining production at reasonable rates.
Uranium Prices
- Over the course of 2025, spot uranium prices traded between US$60/pound U3O8 and US$85/pound U3O8.
- Long-term contract prices remained steady above US$80 per pound U3O8.
- Nuclear energy continues to gain wide acceptance, resulting in increased demand for uranium as a critical element in the carbon free, base-load energy supply.
- The long-term outlook for uranium prices is robust as demand outstrips supply due to unprecedented growth in the number of nuclear reactors under construction, operating life extensions and AI driven data centers.
Turkish Zinc Joint-Venture
- Higher zinc prices and lower input costs are expected to continue to contribute to profitable operations and provide for the payment of dividends to the JV partners.
- The Company anticipates its Turkish JV will process a similar amount of electric arc furnace dust (“EAFD”) in 2026 as in 2025.
- Electric arc steel mills in Türkiye continue to operate at moderate utilization levels.
- BST plant modernization debt is now retired and dividends to JV partners reinstated.
2025 HIGHLIGHTS
Dasa Uranium Project – Mine Development
- Underground development, underway since November 2022, has progressed to the 4th level in the footwall adjacent to the orebody.
- Mineralized development ore brought to surface includes 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 will be processed during the commissioning of the plant.
- Ramping and underground level development will facilitate stope access on five mining levels to coincide with the commissioning of the process plant.
- Underground ventilation, electrical services, …