Global Atomic plans to start Dasa’s $424.6 million construction after June and commission the mine by the end of next year, according an updated feasibility study this month. The military coup in July led the US to suspend government funding for Dasa, but the company raised C$15 million in January by selling stock and says it will pursue more financing in a 60% borrowing, 40% equity-raising model.
“With the situation in Niger being fluid, in addition to current advanced discussions with project lenders, the company is also pursuing other financing strategies to meet its project funding requirements,” president and CEO Stephen G. Roman said in a release on Monday. “Given strong third-party interest in Global Atomic’s high-grade uranium project and our plans for near-term production, there are many groups interested in funding the Dasa project.”
The spot price of uranium oxide, also called yellowcake, was $91 per lb. on…
