Lotus Resources Ltd (ASX:LOT) (OTCMKTS:LTSRF) non-executive director Grant Davey has demonstrated his confidence in the company’s uranium strategy with an on-market purchase of shares.
On May 3, Davey acquired 303,602 shares valued at $96,398 in an indirect interest, increasing his holding in that interest to 15.45 million shares.
OTCQB market trading
Last week, the company completed its secondary listing on the OTCQB market in the United States with the ticker LTSRF.
The secondary listing on the OTC Markets is aimed at enhancing the visibility and accessibility of the uranium development company to North American investors.
It will allow potential North American investors to both trade and settle during US trading hours in US dollars.
Kayelekera project
Lotus owns an 85% interest in the Kayelekera Uranium Project in Malawi that hosts a resource of 37.5 million pounds of U3O8 and historically produced around 11 million pounds of uranium between 2009 and 2014.
The company has completed a positive Restart Study which demonstrated that Kayelekera can support a viable long-term operation and has the potential to be one of the first uranium projects to recommence production in the future.