The Canadian mining company Global Atomic announced this 1st of October the closing of a fundraising of 56,97 million Canadian dollars, or approximately 39,9 million US dollars (22,63 billion FCFA), primarily intended to accelerate the development work of its Dasa uranium project in Niger, a deposit considered one of the most advanced projects in the world. This financial transaction, carried out through a public offering on the Canadian market, takes place in a context of renewed global interest in uranium, driven by the revival of civil nuclear power in several countries and the search for low-carbon energy sources.
As part of this transaction, Global Atomic issued 113,93 million units at a price of 0,50 Canadian dollar each, for total gross proceeds of nearly 57 million Canadian dollars, including the partial exercise of an over-allotment option. The transaction was led by the Canadian brokerage firm Red Cloud Securities, which acted as sole underwriter and bookrunner.
Each unit includes one common share and one-half warrant allowing investors to subsequently acquire additional shares at a price of 0,70 Canadian dollar until 1st of October 2029. According to the company, the mobilized resources will be used primarily to 'advance the Dasa project and strengthen its general working capital needs'.
Dasa, a strategic asset for Niger Located in the Tim Mersoï uranium basin, in the Agadez region, in the north of the country, the Dasa project currently constitutes the main asset of Global Atomic's uranium division. Discovered in 2010, this high-grade deposit obtained its mining permits in 2020 and has been under development since 2022.
The project is carried by the Société des Mines de Dasa (SOMIDA), 80% owned by Global Atomic and 20% by the Nigerien State. The company presents Dasa as the most advanced greenfield uranium extraction project currently in development in the world.
This strategic position could allow Niger to consolidate its rank among the main African uranium producers, in a global market marked by growing demand for nuclear fuel. Investor interest in uranium assets has strengthened in recent years with the return of nuclear power to the energy strategies of many countries.
Several economies, particularly in Europe, Asia, and North America, are betting on this energy source to reduce their carbon emissions and secure their electricity supply. In this context, high-grade, low-cost production deposits are attracting increased interest from financial markets.
For Global Atomic, this fundraising represents an important lever to maintain the pace of development of the Dasa project and prepare for its future production. Beyond its impact for the company, the advancement of the project could also generate economic benefits for Niger, through the investments, jobs, and tax revenues associated with the exploitation of this strategic resource.
Published on 06/10/26 17:27 Narcisse Angan