The latest announcement is out from Lotus Resources Limited ( (AU:LOT) ).
Lotus Resources Limited is progressing well with the refurbishment and restart of its Kayelekera uranium project in Malawi, targeting production by Q3 2025. The project is over 80% complete in mechanical and electrical works, with significant advancements in staffing and equipment mobilization. The company has secured four binding offtake agreements covering nearly 40% of its 2026-2029 production at attractive margins, and it remains fully funded with $112.7 million in cash. The project benefits from stable uranium prices despite global market volatility and is exempt from recent US import tariffs, positioning Lotus favorably in the market.
More about Lotus Resources Limited
Lotus Resources Limited operates in the uranium industry, focusing on the development and production of uranium projects. Its primary project is the Kayelekera uranium project in Malawi, which is aimed at contributing to the global uranium supply.
YTD Price Performance: -22.50%
Average Trading Volume: 11,578,733
Technical Sentiment Signal: Buy
Current Market Cap: A$366.2M
Learn more about LOT stock on TipRanks’ Stock Analysis page.