08:03 AM EST, 02/12/2025 (MT Newswires) -- Global Atomic ( GLATF ) on Wednesday provided an update on recent activities at the company and the Dasa Uranium project in the Republic of Niger.

The company said advancement of the Dasa underground progressed on the first two levels. Plant construction is proceeding on schedule with earthworks nearing completion and civil works underway, with the concrete batch plant now under construction. The camp that will house the plant construction crew is also underway with a large percentage of housing ready.

Global Atomic ( GLATF ) Chief Executive Stephen Roman said, "By advancing the development of the mine, processing plant and infrastructure, we have significantly moved the Dasa Project closer to production while continuously adding to the intrinsic value of the Dasa Project. This is the basis of appraisal for all our financing discussions and not the current value of our shares."

The company said that since the inauguration of President Trump in the U.S., the market reaction has been that debt funding for the Dasa Project is "unlikely to come from the USA." However, these discussions continue as well as the advancement of the joint venture final documentation, and due to many successful meetings at the Indaba Conference, new parties have indicated a willingness to participate in the final funding solution for Dasa. Management said it is "confident that these initiatives will continue to progress."

Shares of the company closed down $0.005 or 1.1%, to $0.47 on Tuesday on the TSX.