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Lotus Resources Limited (ASX:LOT)

ALERT: Price-sensitive ASX Announcement for LOT
Current share price for LOT : $0.660 0.47 (247.37%)+
Announcement
Release
30 Oct 2025 8:26AM
Price at Release
$0.190
Full Release
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Summary
Lotus Resources Limited reported significant progress in its September 2025 Quarterly Activities Report. The company achieved its first yellowcake production at the Kayelekera uranium mine in Malawi, which is on track for full production in Q1 CY2026. The Kayelekera mine's restart program is advancing well, with key milestones such as plant commissioning and grid connection works underway. The company is also making headway on the Letlhakane uranium project in Botswana, with ongoing infill and extensional drilling and promising metallurgical testwork that suggests a viable low acid processing option. Financially, Lotus raised A$65 million through equity placement and established a US$8.5 million Equipment Finance Facility. Closing cash balance stood at A$96.7 million. The announcement underscores Lotus's strategic focus on becoming a leading player in the global uranium sector.
Key Points
  • Lotus Resources achieved first yellowcake production at Kayelekera.
  • Kayelekera mine is set for full production in Q1 CY2026.
  • Letlhakane project in Botswana shows promising drilling results.
  • Company raised A$65 million through equity placement.
  • Closing cash balance reported at A$96.7 million.
  • Kayelekera's grid connection work commenced.
  • Letlhakane metallurgical testwork suggests low acid processing is viable.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.