Global Atomic (TSX:GLO) Global Atomic (TSX:GLO) - Africa's Highest-Grade Uranium Mine Could Match All US Production

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2d ago 25:25

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Interview with Stephen G. Roman, President & CEO of Global Atomic Corp.

Our previous interview: https://www.cruxinvestor.com/posts/global-atomic-tsxglo-advancing-uranium-production-in-niger-6089

Recording date: 4th September 2025

Global Atomic Corporation presents a compelling uranium investment opportunity at the intersection of critical supply shortages and surging demand from both traditional nuclear power and emerging artificial intelligence infrastructure. The company's flagship Dasa project in Niger represents Africa's highest-grade uranium deposit, positioned to address America's severe uranium supply deficit of 45-46 million pounds annually.

The Dasa project's scale cannot be overstated. CEO Stephen Roman emphasizes that the deposit will produce as much as every uranium mine combined in the US, highlighting its strategic importance to American energy security. With US utilities currently burning 50 million pounds a year while domestic production reaches only four or five million pounds a year when fully ramped, Dasa directly addresses this critical supply gap.

The project benefits from exceptional market timing. Microsoft's recent joining of the World Nuclear Association exemplifies the sector's transformation, as Roman notes: "Tech now is getting involved with nuclear because they know that's the only way to power data centers and their development." This new demand from AI and data center infrastructure compounds existing supply constraints in an already undersupplied uranium market.

Global Atomic has achieved significant progress on long-awaited financing, securing term sheets from both the US Development Finance Corporation (DFC) and an Eastern joint venture partner. The company's preference for the DFC arrangement has received substantial political backing under the Trump administration, with Secretary of State Marco Rubio now chairing the DFC and businessman Benjamin Black as CEO.

Roman confirms the project has been basically blessed by the White House, the State Department and various others in the administration, representing a dramatic shift in US government support. This backing extends beyond rhetoric, with America recently sending delegations to the Sahel region to build relationships and address security concerns, directly benefiting projects like Dasa.

Despite financing delays, construction continues with 700 workers on-site and earthworks nearing completion by November 2025. The project has advanced to the third of five mining levels, with civil construction now underway. Production is scheduled for Q1 2027, placing Global Atomic among the rare near-term uranium producers in an undersupplied market.

The company has already invested approximately $250 million, satisfying the DFC's 40% capital contribution requirement for their 60% loan facility. Current financing needs of $250-270 million have been reduced due to this prior investment, making the project more manageable for potential partners.

Global Atomic has secured substantial revenue certainty through US utility offtake contracts representing 90% of production. This customer concentration supports both cash flow predictability and US strategic interests in uranium supply security.

The investment opportunity is amplified by Niger's improved regulatory environment, with the new mineral code reducing royalties from 12% to 7% while maintaining favorable overall terms. The company's 97-98% local workforce employment strengthens government relations during regional political transitions.

With share prices declining from $5 to $0.50 during geopolitical instability, patient investors may find significant value in a strategic asset approaching production in an fundamentally undersupplied uranium market driven by both traditional nuclear demand and emerging AI infrastructure requirements.

View Global Atomic's company profile: https://www.cruxinvestor.com/companies/global-atomic-corp

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