Lotus Resources Ltd (ASX:LOT) (OTCMKTS:LTSRF) non-executive director Grant Davey continues to demonstrate his faith in the company’s uranium strategy with another on-market purchase.
On May 4 Davey acquired 200,000 shares valued at $30,000 in an indirect interest, increasing the number of securities held in that interest to more than 15.652 million.
This follows his on-market purchase of 303,602 shares valued at $96,398 on May 3.
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.