Global Atomic Corporation has secured board approval from the U.S. International Development Finance Corporation for a debt facility of up to US$414.2 million to advance the Dasa Project in the Republic of Niger.

Entry into the facility and subsequent loan disbursements remain conditional on several material requirements. Global Atomic must identify a viable export route for yellowcake, negotiate a direct agreement with the government of Niger, extend the Project Mining Convention and Mining Permit on satisfactory terms, receive loan repayment assurances, and finalize definitive loan documentation with the development finance institution alongside required regulatory approvals. Final terms will also include common share purchase warrants issued to the lender prior to closing.

The Dasa Project was discovered in 2010 by Global Atomic geologists in the Tim Mersoï Basin and is operated through SOMIDA, an 80/20 joint venture between Global Atomic and the Niger Government. Permitted in 2020 and actively mined since 2022, the operation represents an advanced greenfield uranium development supported by underground work that has reached the ore zone. Commercial production is scheduled to begin in the second half of 2028.

“Today's announcement is a significant milestone for the Company, and we thank the U.S. Development Finance Corporation for their support. The Dasa Uranium Mine is the largest highest-grade uranium mine in Africa and is scheduled to begin commercial production H2 2028. The Company has entered into uranium off-take agreements representing 11% of the current mine plan and has completed underground development down to the ore zone.”

— Stephen G. Roman, President and CEO of Global Atomic

Following the announcement, Global Atomic shares closed at $0.71, up 44.90% on the day. Trading volume reached 9,719,648 shares, marking an 858% increase over the 50-day average volume of 1,132,842 shares, reflecting strong market attention on the financing milestone.

Read the full announcement: Global Atomic Announces Dasa Uranium Project Financing Update