Lotus Resources Limited ( (AU:LOT) ) has provided an update.
Lotus Resources Limited has released an updated Scoping Study for its Letlhakane Uranium Project in Botswana, highlighting its potential to become a major uranium operation. The study indicates that Letlhakane can support an annual production of approximately 3 million pounds of U3O8 over a 10-year life of mine, with a total production of 29 million pounds. This development, combined with the planned restart of production at the Kayelekera Uranium Project in Malawi, positions Lotus to become a significant uranium producer on the ASX, with a combined output of 5.5 million pounds per annum. The company is optimizing its operational costs and exploring various strategies to secure funding for the project’s development, which is estimated to require around US$465 million in start-up capital.
More about Lotus Resources Limited
Lotus Resources Limited is a company in the mining industry, focusing primarily on uranium production. The company operates the Kayelekera Uranium Project in Malawi and is developing the Letlhakane Uranium Project in Botswana, aiming to become a significant global producer of uranium.
YTD Price Performance: -15.00%
Average Trading Volume: 9,858,906
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$401.7M
For a thorough assessment of LOT stock, go to TipRanks’ Stock Analysis page.