Niger government continues to support Dasa, Global Atomic says

"We continue to make significant progress at our Dasa Uranium Project, currently employing over 450 people at site and expecting to increase that number to 900 once plant construction is in full swing," Roman said. "We have an excellent relationship with the government and have the support of their entire cabinet, as they appreciate the jobs and economic benefit that Dasa will create for Niger."

More than 1200 metres of ramp development has been completed since the November 2022 Opening Blast Ceremony, with 7000 tonnes of development ore hauled to surface to date. Mine development is continuing, and raise boring is now under way for the main components of the mine’s ventilation infrastructure.

Earthworks to prepare the site for construction of the Dasa processing plant, as well as expansion of the Dajy Camp to house employees and construction crews, began in the second quarter of the year. The project's acid plant has been fabricated and is now being shipped to the site.

The company said it expects its bank syndicate to approve the debt financing facility for project construction during the third quarter, but is "actively considering funding options and advancing several options in parallel to determine the preferred funding structure" in the event of potential further delays in the approval the facility.

"The Dasa Project is unique as the highest-grade uranium project in Africa and the only greenfield uranium project being actively developed today … This project will get funded and will get built," Roman said.

Earlier this year the government of Niger withdrew GoviEx Uranium's mining rights for the Madouela uranium project and Orano's operating permit for its Imouraren uranium mine, but Global Atomic said that, with the exception of logistics delays, project development has not been affected by the political developments in Niger since July 2023. The government is "very supportive", with Mines Minister Ousmane Abarchi saying during a recent visit that the project is "very important" to the government which wants it to be "the start of new Niger mining practice with expectations on state income, employment and environment management".

The current mine plan has been developed to coincide with the start-up of the processing plant at the beginning of 2026, with a target surface stockpile of 2 to 3 months production available for the processing plant at any time. Processing plant equipment is expected to begin arriving at site in the fourth quarter of this year, with erection of the processing plant and site infrastructure taking place over the following year and processing of ore through the plant expected to begin in January 2026.