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Global Atomic secures 2-year extension of uranium exploration permits in Niger

Global Atomic Corp. said Dec. 20 that it has secured two-year extensions to Jan. 29, 2021, for all of its exploration permits in the Tim Mersoi basin in Niger.

The permits include the Adrar Emoles 3 permit hosting the DASA uranium deposit, the Adrar Emoles 4 permit hosting the Isakanan deposit, and the Tin Negouran 1, 2, 3 & 4 permits hosting the Tin Negouran uranium deposit.

Meanwhile, the company is applying to list on the TSX, and expects its common shares to start trading on the exchange before the end of the first quarter of 2019.

A preliminary economic assessment in October for the DASA project estimated a posttax net present value, discounted at 8%, of US$299 million and a 25% internal rate of return, based on a uranium price of US$50 per pound.