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Lotus Resources Limited ( (AU:LOT) ) has issued an update.
Lotus Resources says ramp-up at its Kayelekera Uranium Mine in Malawi remains on track to reach nameplate production in the second quarter of 2026, supported by steady performance improvements since February. The update comes amid broader market supply issues, with the company emphasising operational resilience and continuity at the restart project.
The miner reports its diesel, sulphuric acid and sulphur supply chains remain intact, with contracted diesel through June at below-spot prices and inventory and orders in place for key reagents. While acknowledging pricing and freight cost pressures, Lotus is building inventories, diversifying supply routes and adding storage capacity to support commissioning of its acid plant from April 2026, aiming to safeguard production and reassure stakeholders on supply risk management.
The most recent analyst rating on (AU:LOT) stock is a Hold with a A$1.50 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 Africa-focused uranium producer with significant mineral resources and ore reserves across Malawi, Botswana and Malawi’s Livingstonia project. The company owns 85% of the Kayelekera Uranium Mine in Malawi, which historically produced about 11 million pounds of uranium, and 100% of the Letlhakane Uranium Project in Botswana, positioning Lotus as a scaled player in the global uranium market.
Average Trading Volume: 2,886,385
Technical Sentiment Signal: Sell
Current Market Cap: A$345.6M
See more insights into LOT stock on TipRanks’ Stock Analysis page.