TORONTO, Sept. 28,
2022 /CNW/ - Global Atomic Corporation ("Global
Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (Frankfurt:
G12) is pleased to announce the signing of Development Consultants
Private Limited ("DCPL") of Kolkata,
India, and Lycopodium Minerals Canada Ltd. ("Lycopodium") to
commence the basic and detailed engineering, procurement and
Project Management of the Dasa Mine processing plant in the
Republic of Niger.
These engineering and project delivery firms were selected to
form an Integrated EPCM Project Team synthesizing proven uranium
processing plant design experience with West African project
management and construction experience. DCPL will focus on the
Basic and Detailed Engineering required for the design of the Dasa
Process Plant, with the initial phase of Basic Engineering now
underway. Lycopodium will prepare the Project Execution Plan,
provide input for constructability in West Africa and provide project services
during this phase with the intention of continuing on to manage
plant construction.
All EPCM activity will be guided and supervised by Global Atomic
Owner's Team headed by Dr. Santiago
Faucher, Chief Technology Officer at Global Atomic. Global
Atomic and Dr. Faucher's company, Insight R&D, have now
integrated metallurgical, mechanical, and electrical engineering
experts with DCPL's team in Kolkata and Lycopodium's team in Toronto to direct work on the Dasa Project.
Together, this Integrated EPCM Project Team will develop the
detailed design and complete the project delivery, of the Dasa mine
processing plant; building on proven results from the 2020 Insight
R&D pilot plant trials and the findings of the 2021 Dasa Phase
1 Feasibility Study.
DCPL and Lycopodium have excellent and extensive work histories
throughout Africa including
technical studies, project reviews and EPCM contracting for over 77
engineering projects in mining and other industries. Additionally,
DCPL has designed and built several uranium recovery and process
plants and is currently the foremost engineering company in
India developing that country's
nuclear and uranium sectors. Lycopodium has been actively engaged
in 60 mining projects across West
Africa and brings recent hands-on project delivery
experience in the region.
Global Atomic President and CEO, Stephen
G. Roman stated, "Following Global Atomic's announcements
regarding our initial off-take agreement, the formation of a
banking syndicate to finance the Dasa Project and the incorporation
of our Niger operating company,
SOMIDA, the commencement of the EPCM phase is our next important
milestone to stay on schedule to become one of the world's newest
uranium production companies. Similar to most multinational firms,
who source specialized engineering from India today, Global Atomic has identified DCPL
as having the World's most compelling experience and track record
in the design of uranium processing plants. DCPL's uranium
experience will reduce project technical risk, while its ability to
deliver highly detailed engineered designs will reduce in-field
work and enable good project cost control."
"After an extensive selection process, DCPL and Lycopodium
emerged to form the best team to undertake the EPCM phase of the
Dasa Project. This Integrated EPCM Project Team is committed to
completing the project on time and keeping the Dasa Project on
schedule to deliver yellowcake to utilities in Q1 2025."
About DCPL
Development Consultants Private Limited ("DCPL"), is an
India-based trans-national
consulting engineering firm that provides an entire suite of
Project Engineering services to its clients in India and around the world, from concept to
commissioning, for diverse core sector and
speciality projects. DCPL has led projects in many fields
including mining, mineral processing and beneficiation, renewable
energy and environment, power generation, transmission and
distribution, industrial water supply and treatment and industrial
wastewater treatment and reuse.
DCPL (www.dcpl.net.in) is closely associated with many of the
nuclear power projects in India
and has engineered approximately 45,000 MW of installed generation
capacity, DCPL is one of the leaders in the nuclear field
globally.
About Lycopodium
Lycopodium Minerals Canada Ltd., based in Toronto, is a subsidiary of Lycopodium Limited
(ASX: LYL) which is headquartered in Perth, Australia, and is a leader in its
field, working with clients to provide integrated engineering,
construction and asset management solutions. Lycopodium has
the expertise to deliver complex, multidisciplinary projects,
through to the provision of feasibility studies and advisory
services. Operating across the Resources, Infrastructure and
Industrial Processes sectors, they offer a diverse team of industry
experts to deliver bespoke and innovative solutions across all
commodity types.
With the capability to deliver projects around the world,
Lycopodium has offices in Australia, South
Africa, Canada,
Ghana and the Philippines. For more, visit
www.lycopodium.com.
About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) is a
publicly listed company that provides a unique combination of
high-grade uranium mine development and cash-flowing zinc
concentrate production.
The Company's Uranium Division includes four deposits with the
flagship project being the large, high-grade Dasa Project,
discovered in 2010 by Global Atomic geologists through grassroots
field exploration. With the issuance of the Dasa Mining Permit and
an Environmental Compliance Certificate by the Republic of
Niger, the Dasa Project is fully
permitted for commercial production. The Phase 1 Feasibility Study
for Dasa was filed in December 2021
and estimates Yellowcake production to commence by the end of 2024.
Mine excavation began in Q1 2022.
Global Atomic's Base Metals Division holds a 49% interest in the
Befesa Silvermet Turkey, S.L. ("BST") Joint Venture, which operates
a modern zinc production plant, located in Iskenderun, Turkey. The plant recovers zinc from Electric
Arc Furnace Dust ("EAFD") to produce a high-grade zinc oxide
concentrate which is sold to zinc smelters around the world. The
Company's joint venture partner, Befesa Zinc S.A.U. ("Befesa")
listed on the Frankfurt exchange
under 'BFSA', holds a 51% interest in and is the operator of the
BST Joint Venture. Befesa is a market leader in EAFD recycling,
with approximately 50% of the European EAFD market and facilities
located throughout Europe,
Asia and the United States of America.
The information in this release may contain forward-looking
information under applicable securities laws. Forward-looking
information includes, but is not limited to, statements with
respect to completion of any financings; Global Atomics'
development potential and timetable of its operations, development
and exploration assets; Global Atomics' ability to raise additional
funds necessary; the future price of uranium; the estimation of
mineral reserves and resources; conclusions of economic evaluation;
the realization of mineral reserve estimates; the timing and amount
of estimated future production, development and exploration; cost
of future activities; capital and operating expenditures; success
of exploration activities; mining or processing issues; currency
exchange rates; government regulation of mining operations; and
environmental and permitting risks. Generally, forward-looking
statements can be identified by the use of forward-looking
terminology such as "plans", "is expected", "estimates", variations
of such words and phrases or statements that certain actions,
events or results "could", "would", "might", "will be taken", "will
begin", "will include", "are expected", "occur" or "be achieved".
All information contained in this news release, other than
statements of current or historical fact, is forward-looking
information. Statements of forward-looking information are subject
to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or
achievements of Global Atomic to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to those risks described in the annual information
form of Global Atomic and in its public documents filed on SEDAR
from time to time.
Forward-looking statements are based on the opinions and
estimates of management at the date such statements are made.
Although management of Global Atomic has attempted to identify
important factors that could cause actual results to be materially
different from those forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance upon forward-looking
statements. Global Atomic does not undertake to update any
forward-looking statements, except in accordance with applicable
securities law. Readers should also review the risks and
uncertainties sections of Global Atomics' annual and interim
MD&As.
The Toronto Stock Exchange has not reviewed and does not accept
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release.
SOURCE Global Atomic Corporation