Global Atomic Earns $4.35 Million in Q3 (Zinc Concentrates)Cash Balance at Sept 30/21 = $7.6 million, on track for full debt Repayment at end of 2021 (capital expansion of zinc operations).
And on schedule in January to begin the mine box-cut excavation for "New" Uranium mine of relatively higher grade ores and shortly thereafter CMAC-Thyssen of Quebec will mobilize as the contract miner for Dasa Uranium and begin mine ramp development.
Clearly, the Zinc plant expansion is beginning to add significant quarterly value for Global Atomic.
Other key takeaways from the positive earnings news release are the following:
Global Atomic and Fuel Link have initiated Uranium Yellowcake offtake discussions with Utilities.
With a world class Uranium project fully permitted and ready to build, Negotiations are advancing with Orano Mining for treatment/processing of DASA "direct shipping" Uranium ores ("DSO").
15,000-metre Dasa drill program initiated in September, with a focus on upgrading mineral resources located on strike of the Flank zone mining area to the "measured" and "indicated" categories and extending Uranium mineralization on strike.
Global Atomic anticipates to enter discussions shortly to select an EPCM contractor (Engineering, Procurement, Construction, Management).
Global Atomic to engage in ambitious plan of ramping and underground mine development.
Financing of mill construction is anticipated to be in place in 2022.
Overall, "Global's" progressive development work on Uranium project is very timely as many nations are now adopting the benefits of baseload nuclear power with China at the forefront recently announcing 150 "New" reactor builds anticipated over the next 15 years.