Saturday, November 2, 2024

Global Atomic GAAP EPS of C$0.01, revenue of C$0.3M

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  • Global Atomic press release (OTCQX:GLATF): Q2 GAAP EPS of C$0.01.
  • Revenue of C$0.3M (+50.0% Y/Y).
  • OUTLOOK

    Dasa Uranium Project

    • Continue development of the underground ore access drifts and ramp to lower levels to remain on schedule to supply uranium ore to the processing plant from the end of 2025.
    • Scheduled additions to the in-country construction team will increase the site complement from 450 to approximately 900 workers.
    • In Q3 2024, our Bank Syndicate is expected to approve the Debt Financing facility for the construction of the Dasa Project. In the event of potential further delays in the approval of this facility, the Company is actively considering funding options and advancing several options in parallel to determine the preferred funding structure.
    • Complete final engineering, site development and civil works for the Dasa processing plant and begin installation of equipment.
    • Continue marketing efforts to secure additional uranium off-take agreements.

    Turkish Zinc Joint Venture

    • The Company anticipates operations at its Turkish JV will be profitable in 2024 due to a return to usual local steel mill production levels, a recovery in zinc prices this past quarter and lower input prices.

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