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Turkish Global Atomic Operation Unaffected by the Toronto Stock Exchange Earthquake: GLO
TORONTO, November 2, 2020 (GLOBE NEWSWIRE) – The Global Atomic Corporation (“Global Atomic” or “The Company”), (TSX: GLO, FRANKFURT: G12, OTCQX: GLATF) informed today that the earthquake near the city did not affect Izmir Located on the western coast of Turkey, on Friday, October 27, 2020, on the joint zinc recycling company operation in the city of Iskenderun, located about 1000 km east of Izmir.
Stephen Roman, President and CEO, commented: “On behalf of our Board of Directors and our business partners, Global Atomic sends our sincere condolences to Turkey, the earthquake victims and their families. We are grateful that those who work or live near our operation in Alexandria were not harmed by this event.”
About Global Atomic Global Atomic (www.globalatomiccorp.com) is a publicly listed company that provides a unique combination of high quality uranium mine development and cash flowing zinc concentrate.
The company’s uranium division includes four deposits with the flagship project being the high-end mega-project Dasa, which global atomic geologists discovered in 2010 by exploring fields at the base level. The company is moving forward with the Dasa project quickly, having recently completed the key phase of submitting a mining permit application to the Niger government.
The Base Minerals division of Global Atomics holds a 49% stake in the Befesa Silvermet Turkey, SL (“BST”) joint venture, which operates a state-of-the-art new processing facility, located in Iskenderun, Turkey. The plant recovers zinc from electric arc furnace dust (“EAFD”) to produce high quality zinc oxide concentrate which is sold to zinc smelters around the world. The joint venture partner company, Befesa Zinc SAU (“Befesa”) listed on the Frankfurt Stock Exchange under the name “BFSA”, owns and operates a 51% stake in the BST joint venture. Befesa is a market leader in EAFD recycling, with nearly 50% of the European EAFD market and facilities located throughout Europe and Asia.
The information contained in this statement may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, data related to the completion of any financing operations; Global Atomics’ development capabilities, operations schedule, and development and exploration assets; Global Atomics’ ability to raise necessary additional funds; The future price of uranium; Estimation of reserves and mineral resources; Conclusions of the economic evaluation. Achieving estimates of mineral reserves. Timing and quantity of production and estimated future development and exploration; Cost of future activities, capital and operating expenditures; Successful exploration activities. Mining or processing issues; Currency exchange rates; Government regulation of mining operations; Environmental hazards and tolerance. In general, forward-looking statements can be identified through the use of forward-looking terms such as “plans,” “projections,” and “estimates,” and variations in these words, phrases or phrases that may “can” for certain actions, events, or outcomes. , “Will”, “can,” “will be taken,” “will begin,” “will include,” “expected,” “spoken,” or “materialized”. All information in this press release, other than current or historical factual statements, is forward-looking information. Forward-looking information statements are subject to known and unknown risks, uncertainties, and other factors that may cause Global Atomic’s actual results, level of activity, performance, or achievements to differ materially from those expressed or implied through these forward-looking statements, including but not limited to The inventory is for those risks illustrated in Global Atomic’s annual information form and in its public documents filed in SEDAR from time to time.
Forward-looking statements are based on management’s opinions and estimates at the date these statements were issued. Although Global Atomic has attempted to identify significant factors that could cause actual results to differ materially from those forward-looking statements, there may be other factors that cause results not to appear as expected, estimated, or intended. There can be no assurance that such statements will prove to be accurate, because actual results and future events may differ materially from those expected in such statements. Accordingly, readers should not rely excessively on 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 Global Atomics’ annual and interim MD & As’s risk and uncertainties sections.
The Toronto Stock Exchange has not reviewed and is not responsible for the adequacy and accuracy of this press release.
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