The original notification by the
This announcement neither affects Global Atomic's SOMIDA subsidiary, which operates the
The following statement was subsequently issued in French by the country's ruling party, the CNSP:
"The
This decision follows the recent seizure at
In recent years,
This temporary suspension of new permits is intended to take stock of mining rights already granted, and to combat illegal trafficking of the country's mineral resources.
This decision comes at a time when
In separate news, Global Atomic has received verbal confirmation of the renewal of exploration permits for the Adrar Emoles 3 ("AE3") and Adrar Emoles 4 areas. The Dasa Mine operates in the AE3 property. The exploration permit renewals for the Tin Negoran areas are expected soon, pending the receipt of formal notice from the
The Company also announced the accelerated expiry provisions of the common share purchase warrants issued in connection with the
Global Atomic Corporation is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production. Go to www.globalatomiccorp.com for the latest photos and videos from Management's
The Company's Uranium Division includes four deposits with the flagship project being the large, high-grade
Global Atomic's Base Metals Division holds a 49% interest in the
The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to: statements with respect to completion of any proposed financings; Global Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds on satisfactory terms to the Company; the future price of uranium; the estimation of mineral reserves and resources; the completion and timing of the MRE; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; impacts of third-parties and Government policies on the Company's operations; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved". All information contained in this news release, other than statements of current or historical fact, is forward-looking information. Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.
Forward-looking statements are based on the opinions and estimates of management at the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance upon forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law. Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.
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