Global Atomic Corporation (OTCMKTS:GLATF) Stock Gains After Another Definitive Agreement to Supply Uranium
On Monday the Global Atomic Corporation (OTCMKTS:GLATF) was in focus after it made a key new announcement. The company announced that it formalized a letter of intent it signed in June last year by inking a definitive agreement for the procurement of Uranium from the Dasa Project with a major utility based out of North America.
Trading Data
On Monday, GLATF stock moved up 2.99% to $2.0700 with more than 111.31K shares, compared to volume of 138.13K shares. The stock moved within a range of $2.0200 – 2.0900 after opening trade at $2.0700.
Global Atomic Completes a Second Definitive Agreement to Supply Uranium to a Major North American Utility
As per the provisions of the agreement, the company would be supplied by as much as 2.1 million pounds of Uranium in a delivery window comprising of multiple years and would begin in 2025. That would make up as much as 7% of the annual production at Dasa during that period. The revenue potential for the same had been pegged at more than $110 million in real terms.
In January this year Global Atomic Corporation had formalized a similar agreement for uranium procurement from the Dasa project with another utility based out of North America. It would also commence from 2025 and would provide the company with a supply of 2.4 million pounds of Uranium over a period of six years.
The two agreements combined provide potential revenues of more than $250 million. It remains to be seen if the Global Atomic stock gains any attention today or not.
