|Bid||0.32 x 0|
|Ask||0.33 x 0|
|Day's Range||0.3250 - 0.3300|
|52 Week Range||0.2000 - 0.4500|
|Beta (3Y Monthly)||1.20|
|PE Ratio (TTM)||6.35|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
TORONTO, Jan. 23, 2019 -- Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX-V: GLO, FRANKFURT: G12) is pleased to report assay results from four holes drilled.
The common shares are subject to a four month hold period ending May 19, 2019. A cash finder’s fee equal to 5% of cash raised and finder’s warrants equal to 5% of common shares placed was paid pursuant to the closing for a total of $62,800 and 196,250 finders warrants. Finder’s warrants are exercisable at $0.32 for a period of eighteen (18) months from closing and subject to a four month hold period ending May 19, 2019. The current private placement represents a follow-on to the private placement which closed in November 2018, under which the Company raised gross proceeds of $8,861,900. The private placement represents a higher price and increases gross proceeds raised to $10,117,900 to approximate the $10 million targeted under the November 2018 private placement.
The Government of the Republic of Niger has granted a two-year extension to January 29, 2021 on all of Global Atomic’s Exploration Permits in the Tim Mersoi Basin. These include the Adrar Emoles 3 Permit which hosts the DASA uranium deposit currently in the Feasibility stage of development. In addition, extensions were also granted on the Adrar Emoles 4 Permit, hosting the Isakanan deposit and the Tin Negouran 1, 2, 3 & 4 Permits, hosting the Tin Negouran deposit. Discussions with Orano Mining were held in November to continue advancing the Ore Shipment MOU to supply mineralized material to Orano. Further metallurgical test work is ongoing in order to input final costs in the DASA Feasibility Study. CSA Global Pty. Ltd is currently updating the DASA Project resource with an additional 22 drill holes completed in 2018. Results of this update are expected in January.
Further to the Company’s news release dated October 23, 2018 a summary of the PEA is provided below, including opportunities being explored through an alternate mining strategy to accelerate development of the Project for early mining. All figures are stated in U.S. dollars, unless otherwise stated. The objective of the PEA was to study the DASA Project as an integrated underground mining operation, processing mineralized material through an on-site mill (the “DASA Standalone Scenario”) initially operating at 2,500 tpd and ramping up to 3,000 tpd.
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