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Lotus Resources Limited ( (AU:LOT) ) has issued an update.
Lotus Resources has launched a non-underwritten institutional placement to raise approximately A$76 million at A$2.15 per share, alongside a share purchase plan targeting up to A$5 million, to bolster working capital as it ramps up the Kayelekera uranium project to positive cash flow. The planned equity raising, which will significantly increase pro forma cash to about A$145 million, is intended to fund completion of cost-optimising infrastructure such as an acid plant and grid connection, support the uranium working capital cycle, and provide balance sheet flexibility so the company can pursue a disciplined offtake strategy while targeting nameplate production of around 2.4 million pounds per annum and first product shipment in the June quarter of 2026.
The most recent analyst rating on (AU:LOT) stock is a Hold with a A$2.50 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 ASX-listed uranium developer and producer with key assets including the Kayelekera uranium project and the Letlhakane project. The company is focused on ramping Kayelekera to steady-state production and advancing Letlhakane, positioning itself to benefit from strengthening global uranium market fundamentals.
Average Trading Volume: 1,437,621
Technical Sentiment Signal: Buy
Current Market Cap: A$633.4M
Find detailed analytics on LOT stock on TipRanks’ Stock Analysis page.