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Global Atomic Letter to Shareholders - January 5, 2021
Global Atomic Letter to Shareholders - January 5, 2021 Canada NewsWire ...
About this update from Global Atomic Corporation
[{"type":"text","content":"\n \n \n \n Global Atomic Letter to Shareholders - January 5, 2021\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n All dollar amounts are in Canadian dollars unless otherwise stated.\n \n \n \n \n TORONTO\n \n ,\n \n Jan. 5, 2021\n \n /CNW/ - 2020 was a year we will all remember. For everyone it was a year of coping with the pandemic and we salute everyone's efforts to stay healthy and keep spirits high.  It was great to see so many individuals rise to the challenges  and work tirelessly on the front lines  to help others in need.\n \n \n \n \n \n \n \n \n \n Global Atomic Corporation (\"Global Atomic\" or the \"Company\") had a very successful year as the Company made excellent progress  in advancing its Dasa Uranium Project in the Republic of\n \n Niger\n \n culminating in the issuance of our Mining Permit. The second half of the year saw a healthy recovery in zinc prices and a return to full operations at the Company's recently upgraded zinc production plant in Turkey.  We thank our shareholders for their on-going trust and support in 2020.\n \n \n Accomplishments during 2020 include the completion of  several significant milestones.\n \n \n \n \n Dasa Uranium Project:\n \n \n \n \n \n A Preliminary Economic Assessment (\"PEA\") of the Phase 1 Development Plan for the Dasa Uranium Project was filed, indicating an initial 12-year mine schedule to produce 44.1 million pounds U\n \n 3\n \n O\n \n 8,\n \n with an average processed grade of 5,396 ppm;\n \n \n The PEA estimates cash costs of US\n \n $16.72\n \n /lb U\n \n 3\n \n O\n \n 8,\n \n including corporate and all other off-site costs, and an all-in sustaining cost of US\n \n $18.39\n \n /lb U\n \n 3\n \n O\n \n 8\n \n ;\n \n \n Based on a Base Case U\n \n 3\n \n O\n \n 8\n \n price of US\n \n $35\n \n /lb, the PEA estimates an after-tax NPV discounted at 8% at\n \n $211 million\n \n for an after-tax IRR of 26.6%;\n \n \n The Mining Permit was granted by the Government of\n \n Niger\n \n on\n \n December 2...