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ASX:LOT

Lotus Resources Ltd

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Market:
ASX
Price
0.40 AUD
Day Change
-1.23%
Market Cap:
$732.49 m
52 weeks high
0.41
52 weeks low
0.15

In brief

Lotus Resources Ltd (ASX:LOT) owns a 65% interest in the Kayelekera Uranium Project in Malawi, which hosts a current resource of 37.5 million pounds of uranium oxide and has historically produced 11 million pounds of uranium between 2009 and 2014.

The project has a 1.4 million tonnes per annum processing facility and the company has spent around US$200 million on infrastructure including an on-site acid plant and accommodation camp.

Lotus believes Kayelekera can support a viable long-term operation and has the potential to be one of the first uranium projects to recommence production.