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Perth, Australia--(Newsfile Corp. - January 15, 2024) - Lotus Resources (ASX: LOT) (OTCQB: LTSRF) is pleased to announce the company is participating in the upcoming 121 Mining Investment Conference in Cape Town. 121 Mining Investment Cape Town will be hosting over 125 mining companies and more than 550 sophisticated investors for two days of pre-arranged, targeted 1-2-1 meetings.
Lotus Resources Ltd (ASX:LOT) has bolstered its mineralised footprint at the Kayelekera uranium deposit in Malawi, Africa, following a 35-hole drilling program. The reverse circulation campaign covered slightly more than 4,500 metres and recorded some promising uranium hits, including: 2 metres at 2,541 parts per million (ppm) triuranium octoxide from 9 metres; 3 metres at 829 ppm from 13 metres; 3 metres at 919 ppm from 53 metres; and 4 metres at 539 ppm from 46 metres.
Lotus Resources Ltd (ASX:LOT) has appointed Michael Ball as chief financial officer (CFO) in a move that will strengthen the company's executive team and help it further its uranium project. Lotus owns an 85% interest in the Kayelekera Uranium Project in Malawi, which hosts a current resource of 37.5 million pounds of U3O8 and historically produced ~11 million pounds of uranium between 2009 and 2014.
Lotus Resources Ltd (ASX:LOT) has been initiated by Petra Capital stockbrokers with a BUY recommendation and share price target of A$0.40 following the company's acquisition of a major uranium asset in October, and the jump in uranium spot prices kick-started by Sprott's plans to list its Physical Uranium Trust on the New York Stock Exchange this year. The Kayelekera Uranium Project in Malawi, Africa, is the fourth-largest uranium asset globally by historical annual production and is currently on care and maintenance.
Lotus Resources Ltd (ASX:LOT) has hit an important milestone with the release of its inaugural sustainability development report for the Kayelekera Uranium Project in Malawi, as well as its head office in Perth, Australia. The sustainability report provides an initial assessment and an overview of the company's approach to delivering its environmental, social and governance (ESG) program.
Lotus Resources Ltd (ASX:LOT) has drilling underway at its recently acquired Livingstonia tenement and other regional prospects in northern Malawi. The company is looking to convert the historic resource (JORC 2004) into a JORC 2012 resource and test potential high-grade extensions.
Lotus Resources Ltd recently acquired the 6 million pound U3O8 Livingstonia Uranium Project located 90 kilometres from the company's Kayelekera Uranium Project in Malawi. Red Cloud Securities believes this is a positive update for the company, as the resource area shows potential for increasing both size and grades.
Lotus Resources Ltd has considerably advanced the Kayelekera Project in Malawi, positioning it to be one of the first projects to recommence uranium production in the future. The re-start scoping study released last October highlighted Kayelekera as a project that can restart quickly with a potential 14-year life of mine producing more than 23 million pounds of uranium oxide (U3O8).
Lotus Resources Ltd has begun exploration activities, including reverse circulation (RC) drilling, at its Milenje Hills Rare Earth Prospect about 2 kilometres north of the Kayelekera open pit in Malawi. Importantly, this exploration program follows the discovery of high-grade rare earth oxide (REO) material related to uranium mineralisation that grades up to 16% total REO and 3.4% critical REO at Milenje Hills earlier this year.
Lotus Resources Ltd has renewed its mining and exploration licences for its 85%-owned Kayelekera Uranium Project in Malawi. The Mining Licence, ML0152, has been renewed for a further 15 years.
Lotus Resources Ltd has started a definitive feasibility study (DFS) to assess the possibility of restarting production at its Kayelekera Uranium Project in Malawi. The DFS will build on strong results from multiple technical studies, which indicated the potential for enhanced outputs and returns.
Lotus Resources Ltd (ASX:LOT)'s potential implementation of ore sorting at the Kayelekera Uranium Project in Malawi represents a significant point of possible optimisation to the project relative to historical operational performance, according to stockbroker BW Equities. BW Equities has flagged the feasibility study (commencing September 2021) results as a critical catalyst for the stock as work is progressed and a clear vision for the operational parameters are established.
Lotus Resources Ltd (ASX:LOT) is on a roll with further strong results from its ore sorting test work at Kayelekera Uranium Project in Malawi. The company's recent test work that achieved higher recoveries used a combination of sensors and also tested reduced crush sizes compared with the original phase one results.
Lotus Resources Ltd provides exposure to value behind the low-cost restart of a large, fully permitted, low risk, past-producing uranium mine, according to Canada-based Red Cloud Securities Inc. Red Cloud sees opportunity for investors to benefit from an expected share price re-rating as the Kayelekera Uranium Project in Malawi is further de-risked and costs lowered as feasibility study and production nears.
Lotus Resources Ltd (ASX:LOT) provides investors exposure to a known uranium asset with a significant operating track record, short lead time and modest capex to restart of US$53 million, according to boutique corporate and investment advisory firm BW Equities. BW Equities recently increased its valuation for Lotus to 21.5 cents per share (current share price: 16 cents) and has revised its rating to Buy.
Lotus Resources Ltd (ASX:LOT) (OTCMKTS:LTSRF) says ore sorting test-work at the Kayelkera Uranium Project in northern Malawi has exceeded expectations. The minerals exploration and development company recently conducted initial ore sorting tests on around half a tonne of ore from the African project, with uranium grades jumping by as much as 100% when compared to the feed sample.
Lotus Resources Ltd (ASX:LOT) (OTCMKTS:LTSRF) is set to begin a reverse circulation (RC) drilling program of around 5,000 metres within days at the Kayelekera Uranium Project in Malawi. This will be the first uranium exploration drilling program at the project in more than 15 years with the company planning to test a number of airborne radiometric anomalies within 3 kilometres of the existing processing facility.
Lotus Resources Ltd (ASX:LOT) (OTCMKTS:LTSRF) has begun ore sorting test-work on ore from Kayelekera Uranium Project in Malawi with strong initial results revealing the potential to improve project economics. The test-work is underway on 500 kilograms of run of mine ore and this is taking place at STEINERT's testing facility in Perth, Australia.
Lotus Resources Ltd (ASX:LOT) (OTCMKTS:LTSRF) has appointed highly experienced Robert Rich as uranium marketing and sales executive for the company, a move expected to help progress the restart of the Kayelekera Uranium Project in Malawi. Rich is based in the United States and has more than 30 years of experience working as a nuclear fuel consultant.
Lotus Resources Ltd (ASX:LOT) (OTCMKTS:LTSRF) non-executive director Grant Davey has continued to build his holding in the company with his fourth on-market purchase of shares this week with a total value of more than A$213,000. In his latest purchase, on May 5 Davey acquired a further 250,000 shares worth A$46,250 in an indirect interest, increasing the number of securities held in that interest to more than 16.148 million.