Lotus Resources Limited (AU:LOT) has released an update.
Lotus Resources Limited has announced significant advancements with two uranium offtake agreements and a US$15 million unsecured loan for the Kayelekera Uranium Project in Malawi, signaling strong market confidence. These initial contracts for a minimum of 1.5 million pounds of uranium, with an option for an additional 300,000 pounds, support the company’s production plans and feature competitive pricing with attractive margins. The agreements, including a non-binding term sheet with PSEG Nuclear LLC and a binding sales agreement with Curzon Uranium, are pivotal to the project’s restart and the company’s strategy to secure further contracts with North American utilities.
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