{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Company Interviews","title":"Global Atomic (TSX:GLO) - Conditional US$414M DFC Approval & 2028 Shipment Target","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/5bf3e0f0\"></iframe>","width":"100%","height":180,"duration":1233,"description":"Interview with Stephen G. Roman, President & CEO of Global Atomic Corp.\nOur previous interview: https://www.cruxinvestor.com/posts/global-atomic-tsxglo-africas-highest-grade-uranium-mine-could-match-all-us-production-7873\nRecording date: 4th November 2026\nGlobal Atomic is building the Dasa uranium mine in Niger, which is described as the highest-grade uranium mine in Africa. The company owns 80% through SOMIDA, and the Niger Government holds 20%. The largest change in the story is financing. On September 16, 2026, the DFC board approved a debt facility of up to US$414.2M, made up of a term loan of up to US$397.4M and a US$16.8M cost overrun facility. Roman said the process took 4 years. The approval does not close the loan, and drawdown remains subject to conditions.\nRoman names 3 conditions. The first and probably most important is an export port, and he said US embassies in Benin, Nigeria and Algeria are working on a route. The second matches the mining permit term to the DFC loan, which was extended from 7 to 10 years, while Niger’s permits typically renew every 5 years. Roman said Niger has agreed to a 10-year rollover. The third is a government-to-government agreement between the US and Niger.\nCosts have reset. Direct project costs are US$653.0M and total project costs are US$777.6M. Roman attributes the increase mainly to time, saying each year of border closures and logistics issues cost US$100M, or US$300M over 3 years, and puts the capital estimate about 70% above the original. The company is reviewing the numbers for its third-quarter report.\nOn site, about 830 people are working. Underground development is down 4 levels, with 1 more in the first phase, and water inflows and rock quality are better than planned. A pilot plant is being shipped to site for operator training. Roman is targeting plant completion by the end of 2027 and shipments in the second half of 2028. The presentation estimates about 20 months of plant construction once financing is...","thumbnail_url":"https://img.transistorcdn.com/1wv-MFlQAgnm-ca64e5kK4984dZB0os8-HJdRVsI74M/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzEzNTcyLzE2MjM5/NTQyMDctYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}