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Global Atomic Announces the Credit Committee Meeting to Review the Dasa Funding Opportunity has been Postponed
Global Atomic Announces the Credit Committee Meeting to Review the Dasa Funding Opportunity has b...
About this update from Global Atomic Corporation
[{"type":"text","content":"\n \n \n \n Global Atomic Announces the Credit Committee Meeting to Review the Dasa Funding Opportunity has been Postponed\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n July 16, 2024\n \n \n /CNW/ - Global Atomic Corporation (\"Global Atomic\" or the \"Company\"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) reports that the presentation of the debt financing facility to the Credit Committee of a U.S. Development Bank has been postponed to August.  The Bank decided not to bring this project to the Credit Committee in July, citing a need to answer and confirm additional questions.\n \n \n With approval by the Credit Committee postponed, final approval by the Bank's Board of Directors is now expected in\n \n October 2024\n \n .\n \n \n Global Atomic continues to review other financing options including joint ventures.\n \n \n \n About Global Atomic\n \n \n \n Global Atomic Corporation (\n \n www.globalatomiccorp.com\n \n ) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.\n \n \n The Company's Uranium Division is currently developing the fully permitted, large, high grade Dasa Deposit, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The \"First Blast Ceremony\" occurred on\n \n November 5, 2022\n \n , and commissioning of the processing plant is scheduled for Q1, 2026. Global Atomic has also identified 3 additional uranium deposits in\n \n Niger\n \n that will be advanced with further assessment work.\n \n \n Global Atomic's Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc recycling plant, located in Iskenderun, Türkiye. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company's joint venture partner, Befesa Zinc S.A.U. (Befesa) holds a ...