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Lotus Resources Limited ( (AU:LOT) ) just unveiled an announcement.
Lotus Resources has completed the first phase of a 140-hole, 10,000-metre infill drilling program at its Letlhakane Uranium Project in Botswana, reporting strong continuity of shallow, higher-grade mineralisation at the Serule West area. The results will support upgrading a portion of Letlhakane’s 113.7-million-pound U3O8 resource from Inferred to Indicated and Measured categories, with an updated mineral resource estimate targeted for the second half of 2026.
Two exploration holes north of the existing mining lease confirmed that uranium mineralisation extends into an adjacent prospecting licence, potentially expanding the project’s footprint. Alongside drilling, Lotus is advancing trade-off and engineering studies to simplify the processing flowsheet, reduce costs and refine the optimal mining approach, which will underpin a planned preliminary feasibility study now expected in the first half of 2027.
The most recent analyst rating on (AU:LOT) stock is a Buy with a A$3.10 price target. To see the full list of analyst forecasts on Lotus Resources Limited stock, see the AU:LOT Stock Forecast page.
More about Lotus Resources Limited
Lotus Resources Limited is an ASX- and OTCQX-listed uranium developer focused on advancing large-scale uranium projects, including the Letlhakane Uranium Project in Botswana. The company is working to upgrade mineral resources and optimise mining and processing to support development of Letlhakane as its second uranium mine.
Average Trading Volume: 3,770,668
Technical Sentiment Signal: Sell
Current Market Cap: A$405.7M
See more data about LOT stock on TipRanks’ Stock Analysis page.