Company
OFEX:LOTP
Lotus Resources Limited is a leading ASX-listed uranium producer headquartered in Perth, Australia, which owns an 85% interest in the Kayelekera Uranium Mine in Malawi (Government of Malawi holds 15%), and 100% of the Letlhakane Uranium Project in Botswana. The company restarted production at Kayelekera in August 2025, on time and on budget.
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“This is an extremely accretive acquisition for Lotus with the potential to increase our global mineral resource by 16% for less than $0.004/lb U3O8,” LOT managing director Keith Bowes said.
The re-start scoping study 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.
The exploration program follows the discovery of high-grade rare earth oxide (REO) material related to uranium mineralisation at the prospect.
“It is important to highlight that a restart of operations also provides significant benefits to the local communities and Malawi as a whole through employment, development of local communities, taxes, royalty streams and profit share to th
The definitive feasibility study to assess the recommencement of production at the project in Malawi is expected to be completed by mid-2022.
Lotus was recently upgraded to a ‘Buy’ with a target price of 21 cents by BW Equities following a busy June quarter, which saw numerous advancements at the company’s Kayelekera Uranium Project.
Ore sorting has the potential to both increase the feed-grade and extend the life-of-mine through the utilisation of low-grade ores as plant feed.
The broker flagged the company’s completion of the multiple technical studies, which it sees as a “critical catalyst” as work is progressed and a clear vision for the operational parameters are established.
The uranium explorer and developer is working to align its flagship Kayelekera Uranium Project with a series of global frameworks as it looks to bring the 17-million-tonne uranium asset in Malawi back into production.
The uranium explorer and developer will work to align its flagship project’s development with a series of global frameworks as it looks to bring the 17-million-tonne uranium asset back into production.
Past production of 11 million pounds of uranium (2009-2014) at the Kayelekera Uranium Project in Malawi ceased only due to lower post-Fukushima uranium prices.
Following the preliminary ore sorting test work, management confirmed that feasibility study will refocus the Kayelekera mine-plan on a scenario producing ~3mlbs per annum on average over a mine-life of ~10 years.
The ASX-lister called the initial results “excellent” and said the grade of the ore sorting product increased by up to 100%, compared to the African project’s original feed sample.
After completing the uranium program, the company will move the rig to its rare earth targets at Milenje for initial follow up to positive results returned from reconnaissance trench sampling.
The webinar will feature Lotus Resources, Peninsula Energy and Alligator Energy with projects in Africa, the US and Australia respectively.
STEINERT, a leader in the magnetic and sensor separation industry, is undertaking the test-work at its facility in Perth, Western Australia.
The company believes with the uranium market beginning to project a more bullish sentiment, the timing for bringing on a marketing and sales executive is ideal.
The company’s key asset is the Kayelekera Uranium Project in northern Malawi, Africa.
The company holds an 85% interest in the Kayelekera Uranium Project in Malawi that hosts a resource of 37.5 million pounds of U3O8.
The company holds an 85% interest in the Kayelekera Uranium Project in Malawi that hosts a resource of 37.5 million pounds of U3O8.
