Lotus Resources

We're pleased to announce the results of a Scoping Study for our Letlhakane Uranium Project in Botswana, which has confirmed the project’s potential to support an economically viable long-life operation under a variety of uranium price scenarios. We are developing Letlhakane in parallel with planning for the restart of production at our Kayelekera Uranium Project in Malawi in 2025, as we work towards becoming a globally significant U3O8 producer through the combining of both assets. Read the full release here: https://loom.ly/Eltr94w

Russian President Vladimir Putin has threatened to cut off Western access to its huge uranium reserves in retaliation for sanctions placed on Moscow following its invasion of Ukraine, writes Markets Reporter Alex Gluyas in The Australian Financial Review. Read more: https://loom.ly/Ri5Ntz8

Close to three hours of interviews from last week's 2024 World Nuclear Symposium in London 👀 Bloor Street Capital spoke with a series of knowledgeable names in the nuclear energy and uranium sectors with a view of determining what is going on with the uranium price, and where it might be headed. Interviewees include Sprott Asset Management CEO John Ciampaglia, Denison Mines CEO David Cates, WMC Nuclear Fuel Director Per Jander, Canaccord MD Equity Research – Metals & Mining Katie Lachapelle, NexGen Energy President & CEO Leigh Curyer, Traxys MD Kevin Smith, Ocean Wall Director Ben Finegold, Urenco Head of Commerical Intelligence John Paul Jones, UxC President Jonathan Hinze and Kazatomprom Chief Strategist Dastan Kosherbayev. Watch all of the interviews here: https://loom.ly/cbVqUjk

We're pleased to report results from a further 35 holes drilled at our large-scale Letlhakane Uranium Project in Botswana, with 134 reverse circulation holes and 10 diamond holes now reported. Our CEO Greg Bittar commented: “As we move towards the conclusion of our infill program at Letlhakane, we continue to be extremely pleased with the drilling results. Out of 144 holes reported, 141 have intersected uranium mineralisation, confirming the continuity and grade. Furthermore, we have intersected the thickest continuous zones of mineralisation seen so far at the deposit, including 26.1m at 265ppm. "At the same time, we continue to intersect narrow high-grade lodes within these broader mineralised zones, with the latest intercepts grading up to 2,053ppm eU3O8, more than six times the current resource grade. "Diamond drilling at Serule West is complete and we are now drilling at Gorgon West for further QAQC validation as well as samples for the metallurgical test work program to optimise Letlhakane’s processing flowsheet. We have commenced a small exploration drilling program in the west of the mining lease to test a new target outside the current resource envelope.” Read more: https://loom.ly/k9cODq8

Lotus locks in uranium offtake arrangements | Coverage in Australian Mining:

📰 Major Australian broking firms quick to back LOT: Coverage of Lotus in The Pick Magazine below. Bell Potter, Shaw and Partners and Canaccord remain bullish on the company following the signing of the Mine Development Agreement with the Government of Malawi – a significant milestone in Kayelekera's redevelopment – and more recently, the securing our first two uranium offtake arrangements and a US$15m unsecured loan facility for Kayelekera. Read the full article:

This morning our CEO Greg Bittar hosted investor webinar and conference call to discuss yesterday's announcement regarding offtake and funding for our Kayelekera Uranium Project. Our first two sales contracts, coupled with unsecured financing with significant drawdown flexibility, mark a terrific milestone for Lotus and Kayelekera, demonstrating customers’ confidence in the strength of the uranium market as well as providing a strong endorsement of our plans for the project. Watch the full webinar replay here: https://loom.ly/Sa_a16M

⏰ Reminder | Lotus is hosting an investor webinar and conference call at 9am AEST today, following yesterday's announcement regarding offtake and funding for our Kayelekera Uranium Project. Our CEO Greg Bittar will discuss the update before providing an opportunity for investors to ask questions. Join the webinar here: https://loom.ly/6EkEUHQ

Lotus locks in first offtake deals for Kayelekera restart | Coverage via MiningNews.net: https://loom.ly/AQqtCPo

We're pleased to announce a binding agreement and a term sheet for U3O8 sales, as well as a binding unsecured loan facility for the restart of our Kayelekera Uranium Project in Malawi: https://loom.ly/ddzCOvw Together, these arrangements represent the sale of a minimum of 1.5 million lbs and up to 1.8 million lbs of uranium produced at Kayelekera from 2026 through until the end of 2032 to PSEG, a subsidiary of Public Sector Enterprise Group, a diversified energy company based in Newark, New Jersey, and Curzon Uranium Ltd, a leading international uranium market participant. Our CEO Greg Bittar said: “Our first two sales contracts, coupled with unsecured financing with significant drawdown flexibility, mark a terrific milestone for Lotus and our Kayelekera Project, demonstrating customers’ confidence in the strength of the uranium market as well as providing a strong endorsement of our plans for the project. Through the initial offtake and prepayment / funding discussions, we have established critical knowledge and a breadth of long-term industry relationships with multiple substantial strategic customers. This will serve us well as we look to secure further contracts closer to the commencement of production.” Lotus will host an investor webinar and conference call tomorrow – Greg will discuss the release before providing an opportunity for investors to ask questions. Register for the call here: https://loom.ly/6EkEUHQ