Global Atomic (TSX: GLO) is expecting to have further details on the current status of a financing package for its flagship Dasa Uranium Project in Niger by the end of the current quarter. Discussions are said to have continued with the US government for the funding of the project, despite recent initiatives by Donald Trump to cut foreign spending.
While these discussions are said to have continued to advance, new parties are said to have also indicated a willingness to participate in the final funding solution for the project.
“By advancing the development of the mine, processing plant and infrastructure, we have significantly moved the Dasa Project closer to production while continuously adding to the intrinsic value of the Dasa Project. This is the basis of appraisal for all our financing discussions and not the current value of our shares,” commented Stephen Roman, CEO of Global Atomic.
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On the ground, plant construction is said to be proceeding on schedule with earthworks nearly complete. Civil works are underway, with the concrete batch plant now under construction and large pieces of processing equipment now appearing on site. Portions of the camp have already been completed, with a “large percentage” of housing said to be ready for occupation.
In terms of the mine, underground development has progressed on the first two levels along the footwall of the orebody, while ventilation has been completed and commissioned.
Global Atomic last traded at $0.47 on the TSX.
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