Lotus Resources (ASX:LOT) - Acquisition Doubles Size & Leapfrogs Uranium Developer
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Show Notes
Interview with Keith Bowes, MD of Lotus Resources (ASX: LOT)
Our previous interview: https://youtu.be/RwUKk4Hj-KQ
Recording date: 25th July 2023
Lotus Resources Limited, a company listed on the Australian Stock Exchange (ASX: LOT) and the OTCQB (LTSRF), holds an 85% stake in the Kayelekera Uranium Project located in Malawi, Africa.
Presently, Kayelekera is under care and maintenance. Before its closure due to persistently low uranium prices, it was a highly productive asset, having produced about 11 million pounds of uranium.
In August 2022, Lotus issued a Re-Start Definitive Feasibility (DFS) Study which underscored Kayelekera's status as one of the world's lowest capital cost uranium projects, with costs amounting to US$88m. The study also confirmed that the project has the potential to rapidly resume production – requiring only 15 months for construction and refurbishment – following a final investment decision (FID).