TORONTO, Aug. 12, 2025 /CNW/ – Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX:GLO) (OTCQX:GLATF) (FRANKFURT: G12) announced today its operating and financial results for the quarter ended June 30, 2025. For more detail, please refer to the Condensed Interim Consolidated Financial Statements and Management’s Discussion and Analysis for the three and six months ended June 30, 2025, on the Company’s website at www.globalatomiccorp.com.
Stephen G. Roman, President & CEO of Global Atomic, commented, “During the second quarter of 2025, we continued with pre-development work at the Dasa Project with earthworks and civil works well underway at the plant site, and new worker accommodations and support facilities nearing completion.”
“We’re pleased to report an increased pace of work with the U.S. development bank with a focus on the preparation of documentation to support Credit Committee review. Positive Credit Committee review will mark a significant step forward towards loan approval by the Bank’s Investment Committee and Board of Directors. We are encouraged by the Bank’s level of engagement and look forward to a successful outcome. In the meantime, we continue to advance other financing options, including a project level minority joint venture investment into our SOMIDA subsidiary in Niger.”
“With the closing of our C$24.8 million equity financing at the end of the second quarter we will manage capital spending to conserve cash while maintaining key parameters on the Project’s critical path for completion. We will keep investors informed of any material developments in project financing.”
OUTLOOK
Dasa Uranium Project
- The Company is actively engaged with a U.S. Development Bank to establish a debt facility to finance 60% of Dasa’s development costs.
- The Bank provided its letter of interest in June 2022 and has undertaken due diligence and financing discussions since that time.
- In the interim several events, including the recent announcement of the nationalization of a gold mine, occurred in Niger that served to slow progress on our file. While development finance loans typically feature a longer timeline than commercial loans, the geopolitical situation in Niger has contributed to an even longer review and approval timeline.
- Notwithstanding, the Bank has continued to work on our project and has confirmed that their internal process to advance the approval of a debt facility for our Dasa Project is nearing completion.
- Once approved by the Credit Committee, the Dasa Project loan will then move to the Investment Committee and the Board of Directors for final approval.
- While working toward completion of the debt facility, the Company has also been in active discussions regarding a minority project level investment, representing a potential alternative to finance the Dasa Project. Any such investment would be based on the intrinsic value of the Dasa Project as per the Company’s most current Feasibility Study plus investments made by the Company to advance the Project since that date, and not the current price of the Company’s shares.
- The …