Global Atomic Provides Update on Turkish Operations
TORONTO, Oct. 17, 2019 (GLOBE NEWSWIRE) — Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12), is pleased to report its Turkish EAFD processing plant in in Iskenderun, Turkey is ramping up as planned. For the month of September, 5,000 tonnes of Electric Arc Furnace Dust (“EAFD”) was processed.
Stephen G. Roman, President and CEO, commented, “We are pleased to report business as usual at our Turkish zinc facility. The current socio-political dynamics in Turkey have no impact on our operations and we look forward updating the market further as production expansion continues.”Global Atomic is also pleased to report it has graduated to the OTCQX market in the USA under the symbol “GLATF”, which allows trading in a majority of U.S. states and is expected to enhance corporate visibility in the U.S. market as well as improve liquidity. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.About OTC Markets Group Inc.OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.About Global AtomicGlobal Atomic is a TSX and OTCQX listed company providing a unique combination of high grade uranium development and cash flowing zinc concentrate production. Global Atomics’ Uranium Division includes six exploration permits in the Republic of Niger covering an area of approximately 750 km². The Company controls four uranium deposits on its permits with the most significant discovery being the DASA deposit situated on the Adrar Emoles III concession, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The DASA deposit is currently undergoing technical studies on the project.Global Atomics’ Base Metals Division holds a 49% interest in the BST joint venture which operates a re-processing facility located in Iskenderun, Turkey that converts EAFD into a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (“Befesa”), holds a 51% interest in and is the operator of BST. Befesa is a market leader in EAFD recycling, capturing approximately 45% to 50% of the European EAFD market with facilities located throughout Europe and Korea.The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.