Thread by @Big_U_Dawg

I had a great phone call with @AtomicCorp today that has made me as bullish as ever on the company. I am going to share my thoughts from the conversation on this thread. I hope it helps you! $GLO $GLATF #Uranium #Zinc /1

1. FS study provides tier 1 economics but had to include higher than normal shipping and sulfur cost because of pandemic supply chain issues. Further the FS had increased sustaining capital cost from those in PEA. /2

By the time these inflated costs are incurred there could be meaningfully savings vs. what’s listed in the FS if prices on those items normalize. Further, the current drill program is focusing on turning #Uranium reserves closer to the Flank Zone into indicated from /3

inferred decreasing the need to have the larger sustaining capital listed in the FS.
2.Stated expectation for debt vs. equity on DASA finance is 70/30. Which would require close to 60M from equity to complete. Currently Global raised 30M in their recent raise. /4

Company is still shooting for 75/25 debt/equity and from the discussion it seemed like that could be a possibility.
3.Orano negotiations have continued with significant progress. Likely a toll milling scenario where Global would sell the milled ore to customers less /5

a milling fee to Orano beginning in 2023 for a 5 year period at 100k tons annually if MOU is followed. Based on rough calculations at $45 lb Global would profit around $20M annually from this ore. This deal with Orano, if finalized, could resolve any need for any further /6

equity raising to complete the DASA project.
4.Global is currently engaged with Banks that regularly handled debt financing in Africa. Financing rates will depend on how de-risked the project becomes such as offtakes in hand, Orano milling agreement /7

to provide additional cashflow beginning in 2023, #Zinc Cashflow, etc. Banks in discussion regarding financing are loving the fact that Global has the #Zinc business with positive cashflow for the company. This sets them apart by far. /8

5.Current Drill program has the potential to give Phase 1 mine production better cost than the FS and allow Global to lay out an economic case for the full deposit when currently they are only using 20% of the deposit in their economics. /9

6.Contract pricing would likely be calculated with a some type of formula such as 1/3 fixed, 1/3 spot, 1/3 term pricing. First offtakes will likely be entered right before or in conjunction with the financing. Initially the company has a plan to enter offtakes for /10

1-1.5M lbs annually & this could be spread to a couple utilities or even just one. Global is in discussions to have offtakes include prepayments to the company for future purchased production which could also provide funding needed for equity required to complete DASA project /11

The company plans to sign additional offtakes as the market moves forward at even higher prices. Based on price projections the company believes we may be in the $60 per lb range by end of Q1 when the company is close to entering offtakes. /12

7.Orano and Global are in discussions to do more than just a toll milling agreement. The companies are discussing using synergies in shipping and purchase of mining and milling supplies, etc in order to get better rates for both parties on products sent to Niger. /13

8.Global Team is currently in Niger finalizing Niger subsidiary, working on Orano negotiations, and have been onsite at DASA. Groundwork is already being completed to prepare for the collaring of the DASA mine portal. /14

9.The company has been approached by others about M&A discussions. The company has has the position that it is to early at this time to discuss those options. If the company received an offer to good to pass up, they would bring it to shareholders to vote. /15

Global at this time plans to build their mine and be a #Uranium producer and a Global Uranium company. $GLO $GLATF #Zinc /16 (Last)