Global Atomic has experienced interruptions in its supply lines after a coup d'État in Niger resulted in the overthrow of the elected president.
Late on Wednesday, a group of military officers in Niger seized power, deposing President Mohamed Bazoum, and imposing a curfew while sealing the borders.
In response to these developments, shares in Global Atomic have taken a hit in Toronto, with the stock experiencing a decline of nearly 16% to 2.26 Canadian dollars ($1.71) as of 10:48 a.m. ET.
Despite the political instability, the company's Dasa project, which is located 105 kilometers south of the uranium mining town of Arlit and more than 1,100 kilometers northeast of the capital city of Niarmey, remains unaffected.
However, Global Atomic has confirmed that its supply lines have been disrupted due to the closure of borders and airports.
"We have received reassurances that various branches of the military are working to maintain peace and stability in the country. Additionally, we have been informed that the ruling political party remains intact and a new Head of State will be appointed," stated the company.
