GLobal Atomic Dreams $GLOGlobal Atomic CorporationTSX_DLY:GLOPoPnoStyle📊 Where the market is right now Current share price: ~C$0.85–0.95 Market cap: roughly ~C$300–450M Call it: ~C$350M market cap baseline A realistic NAV (sum-of-parts) We’ll split into: Turkey zinc (cash-flow asset) DASA uranium (main value) Apply risk discounts (this is EVERYTHING) 🟢 Turkey zinc (low risk, cash flowing) Rough valuation range: C$50M – C$100M Per share: ~C$0.15 – C$0.35 This is your floor-ish, but not guaranteed ☢️ DASA uranium (NPV vs reality) Headline NPV (from studies / investor decks): ~$900M–$1.1B USD (≈C$1.2–1.5B) Developers NEVER trade at full NPV Apply: Jurisdiction (Niger) discount Financing dilution Construction risk Time delay Apply realistic discounts Bear case (things go wrong / slow) Uranium ~$70–80 Heavy dilution / delays Market applies 0.2x NAV DASA value: ~C$250–300M + zinc: ~C$75M ➡️ NAV ≈ C$325–375M ➡️ Per share ≈ C$0.60 – 0.80 This matches downside trading range pretty well Base case (most realistic IMO) Uranium ~$85–100 Financing happens (with dilution) Execution “okay but not perfect” Market assigns 0.3–0.5x NAV 👉 DASA value: ~C$400–700M 👉 + zinc: ~C$75M ➡️ NAV ≈ C$475 – 775M ➡️ Per share ≈ C$0.90 – 1.50 ✔️ This lines up with: Current price (~0.9) Analyst targets up to ~C$2+ Right now: Market is pricing roughly a conservative base case Bull case (what uranium bulls believe) Uranium $110–140+ Smooth build Re-rating to 0.6–0.8x NAV DASA value: ~C$900M–1.2B + zinc: ~C$100M ➡️ NAV ≈ C$1.0 – 1.3B ➡️ Per share ≈ C$2.00 – 3.50 Reality check Here’s the blunt truth: At ~C$0.90 today: Market is NOT pricing in full success But also NOT pricing in failure It’s basically saying: “We believe DASA probably gets built… but we’re not paying up yet.” The 3 things that will move the stock This matters way more than spreadsheets: Financing terms Equity-heavy → downside Debt/offtake → upside Niger risk perception Biggest discount factor Even if overblown, it matters Uranium price This is the multiplier Changes NAV dramatically Final verdict $0.50 zinc-only argument → slightly optimistic, but not crazy “DASA provides torque” At current price (~C$0.90): You’re paying mostly for: Zinc + partial DASA probability Upside to ~$2–3 if things go right Downside to ~$0.60 if things go wrong