Global Atomic said last October that an unnamed US development bank had expressed interest in issuing a loan of $295 million that would cover 60% of the project. Around that time, the company closed a public offering totalling C$40.3 million, followed by another C$35.6 million private placement this January. These are expected to fund the Dasa project’s development until the bank funds are available.
Once in production, the proposed underground mine at Dasa is expected to output 68.1 million lb. of uranium oxide (U3O8) over a 23-year period, based on a throughput of 1,000 tonnes per day.
Global Atomic currently has offtake agreements for about 8.8 million lb. of yellowcake over the first seven years of production, equating to about 1.3 million lb. a year. In Wednesday’s release, the company noted that about 90% of those were sold to US utilities.
Meanwhile, the plant construction at Dasa is proceeding on…
