Global Atomic stock secures CAD 50.0 million for Dasa funding

Published on 09/30/2026 at 11:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Global Atomic stock announced a CAD 50.0 million offering on September 23, 2026. Dasa project costs stand at USD 777.2 million, with commissioning scheduled for H2 2028.

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Global Atomic stock is backed by a CAD 50.0 million financing announced on September 23, 2026, with the proceeds earmarked for the Dasa uranium project and working capital. The offering gives the company a defined funding step as it works toward the next phase of construction in Niger.

Offering sets funding terms

According to Global Atomic on September 23, 2026, the company agreed to sell 100,000,000 units at CAD 0.50 per unit for gross proceeds of CAD 50.0 million. Each unit includes one common share and one-half of a warrant.

The warrants carry an exercise price of CAD 0.70 and run for 36 months after closing. The offering is expected to close on October 1, 2026, subject to regulatory approvals and Toronto Stock Exchange approval, according to the same company release.

Dasa costs remain the key test

Global Atomic reported on September 18, 2026, that total Dasa capital costs were estimated at USD 777.2 million, including financing costs and contingency. The company had invested USD 228.5 million through June 30, 2026, leaving estimated remaining project costs of USD 550.1 million.

The financing picture therefore has two distinct figures: the CAD 50.0 million equity offering and the USD 550.1 million remaining construction requirement. The DFC term loan facility of up to USD 397.4 million is expected to become available after the company spends the remaining USD 152.7 million of required equity, per the September 18 release.

Quarterly figures show mixed progress

For the quarter ended June 30, 2026, Global Atomic reported EPS of USD 0.01, compared with a USD 0.05 loss per share in the same quarter of 2025. Sales fell 42.30 percent year over year to USD 135,562, while the company held USD 30.0 million in cash, according to ScanX on September 16, 2026.

The earnings comparison shows improved per-share profitability alongside lower sales. For investors, the central operating question is whether the new financing can bridge the remaining Dasa capital requirement while the zinc joint venture continues to provide operating support.

Dasa development moves toward 2028

Global Atomic stated on September 16, 2026, that the Dasa mine is scheduled to begin commercial production in the second half of 2028. The project has uranium offtake agreements representing 11 percent of the current mine plan, according to Global Atomic.

The company combines uranium development with a 49 percent interest in a Turkish zinc recycling joint venture. That mix gives Global Atomic an operating business alongside the larger Dasa development program.