Global Atomic Corporation
Global Atomic is constructing the high-grade Dasa Uranium Project in Niger -- one of the highest-grade uranium deposits in Africa -- with underground development, surface plant construction, and process-plant component delivery all underway, with first production now guided H2 2028 (slipped from the original H1 2026 target). The company also holds a 49% interest in a cash-flowing zinc-recycling JV in Turkey (Befesa Silvermet). Cash of US$30.0 million (30 Jun 2026) and debt of CAD $5.77 million converted.
Notable vs. Peers
- Jurisdiction risk score of 3/10 is meaningfully riskier than the peer average of 7.9/10.
- Financials score of 9.9/10 is stronger than the peer average of 5.2/10.
- All-in sustaining cost of $35.70/lb U₃O₈ is 22% lower than the peer producer average of $45.99/lb U₃O₈.
- Trading within 1% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Construction Milestones
3 of 5 reached- Dec 2020 · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed
- Not yet reached
- Not yet reached
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: mill, tailings facility, grid power.
Jurisdiction (40%)3/10
Niger has experienced significant political instability since the 2023 coup, including the exit of French and US military presence and formal withdrawal from ECOWAS -- real, elevated country risk despite Dasa's advanced construction status and high-grade ore body. Two specific, currently-unresolved risks bear directly on Dasa's financing and offtake: (1) Niger's traditional yellowcake export corridor through Benin has been closed since the 2023 coup with no operational alternative route yet established; (2) Niger's government has shown a recent, severe pattern of nationalizing foreign-held uranium/mining interests (Orano's Imouraren and SOMAIR nationalized Jun 2025; GoviEx's Madaouela also affected) -- the DFC's own Sep 2026 facility approval is explicitly conditioned on resolving a mining-convention/permit renegotiation against this exact backdrop, materially understating real risk if read as a settled instability generality rather than these two live, specific conditions.
Infrastructure (40%)2.9/10
No confirmed mill, confirmed road access, no confirmed grid power, and no confirmed tailings facility at Dasa Uranium Project, Republic of Niger.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:7/10
Stage: Construction
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:3/10
Niger: jurisdiction score 3/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:4/10
Primary commodity: Uranium
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Founder, Chairman, President and Chief Executive Officer of Global Atomic Corporation, and previously President and CEO of TSX-listed Harte Gold Corp. Has identified, financed, developed and brought into commercial production many mining and oil and gas projects over the past 40 years, notably as founder, Co-Chairman and Director of Gold Eagle Mines Ltd., acquired by Goldcorp Inc. for $1.5 billion in 2008. Previously a Policy Advisor to Canada's Minister of National Defence, spearheaded the privatization of two major petrochemical companies in Central Europe, and served as Director and VP Exploration of Denison Mines Limited; was instrumental in the creation and leadership of Gabriel Resources, Belo Sun Mining, Exall Energy, Silvermet and Polar Star Mining. Received the Bill Dennis Award for Canadian Mineral Discovery from the Prospectors & Developers Association of Canada in March 2016.
Chief Financial Officer of Global Atomic Corporation, having been CFO, President and Director of Silvermet prior to its merger with Global Atomic in 2017. Previously CFO for Harte Gold Corp. Trained as an accountant, is CPA qualified and was previously a partner at PricewaterhouseCoopers. Became President of Reindalyne Enterprises Inc. in 2002, which provides financial consulting services. Graduated in Commerce from the University of Toronto.
Vice President, Finance of Global Atomic Corporation. Chartered accountant with over 12 years of expertise in audit, accounting, financial management, financial reporting and internal controls. Joined Global Atomic in 2021 as Corporate Controller and was promoted to Vice President, Finance in 2024; previously worked for PricewaterhouseCoopers LLP in Canada from 2019 to 2021 and earlier in Turkiye and the Netherlands, holding several senior roles with public and private companies including large Canadian mining companies. Master of Financial Analysis and Master of Professional Accounting, La Trobe University; Bachelor of Economics, Baskent University.
Vice President, ESG and Corporate Secretary of Global Atomic Corporation, having held Vice President and Corporate Secretary positions with the company since June 2010. Over twenty-five years of experience in the mining sector across numerous companies from early stage to production, including the transition from private company to exchange-listed issuer status. Expertise is in corporate finance, regulatory compliance, government relations and permitting, and local community and aboriginal consulting. BA (Hons) in History and Economics, University of Toronto.
Administrator of Global Uranium Niger, Global Atomic Corporation's Nigerien operating entity. Educated as a Geological Engineer and in related studies in Niger, Senegal and France; joined Global Uranium Corporation in 2007 as Exploration Manager and has been engaged with Global Atomic Corporation since 2013. Prior experience in Niger's private sector includes Chief Geologist at Golden Star Resources, St. Jude Resources and Proma-Minerals, and Senior Geologist for Barrick Gold Exploration's Tialkam gold research project. In Niger's public sector he held several key positions at the Ministry of Mines and Energy, including Project Director, Director of Geological and Mining Research, and Inspector of Services.
Vice President, Investor Relations of Global Atomic Corporation. Over 30 years of investor relations experience across mining, retail, petroleum, financial services and forest products, with relationships throughout North America, Europe, Australia, Asia and South Africa. Worked at Eldorado Gold while it was developing mines in Turkey, at First Uranium with gold and uranium operations in South Africa, and at IAMGOLD. Has working knowledge of the securities regulations and disclosure practices of the TSX, NYSE and JSE; formerly led the Canadian Investor Relations Institute, has been a Director of the US-based National Investor Relations Institute, and was a member of the Ontario Securities Commission's Continuous Disclosure Committee from 2002 to 2018.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Regent Mercantile Holdings, led by UraMin founder Stephen Dattels, has made repeated cash placement investments in Global Atomic, though its resulting percentage stake was not confirmed. Two different company insiders bought shares on the open market in mid-to-late 2025, with no offsetting selling found.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Global Atomic is building the Dasa uranium project in Niger, one of the highest-grade uranium deposits in Africa, which it holds 80% through SOMIDA, with the Republic of Niger holding 20%; it also owns 49% of the Befesa Silvermet zinc-recycling joint venture in Turkey. Indicated resources contain 109,300,000 lb of eU3O8 (10.09 Mt at 4,913 ppm), with no measured category, plus 51,400,000 lb inferred, as at May 2023. The February 2024 feasibility study shows an after-tax NPV8% of US$917M and a 57% IRR at US$75/lb U3O8 over a 23.75-year mine life, with an all-in sustaining cost of US$35.70/lb, but a September 2026 update raised the estimated capital cost to US$777.6M from the study's US$308M and moved first production to the second half of 2028. On 16 September 2026 the US International Development Finance Corporation's board approved a debt facility of up to US$414.2M for Dasa, which is not yet in place: entering it remains subject to conditions, including an export route for uranium concentrate after the Benin corridor closed in 2023 and negotiation of the mining agreement with Niger's government.