Lotus Resources Ltd (ASX:LOT) directors have demonstrated their confidence in the company’s uranium strategy through participating in a placement conducted earlier this year after receiving approval from shareholders at a general meeting on July 30.
The company received binding commitments to raise A$12.5 million before costs through the placement in March of 100 million shares at A$0.125 per share to sophisticated and professional investors.
At the time, the placement attracted strong demand locally and abroad and saw several new institutional investors become shareholders in the company.
Change of director’s interests
On August 6, non-executive director Mark Hanlon acquired 500,000 shares valued at $62,500 in an indirect interest, increasing the number of securities held in that interest to almost 3.676 million.
Non-executive director Grant Davey purchased 1.4 million shares valued at $112,000 in an indirect interest, increasing the number of securities held to almost 17.549 million.
ESG principles to guide Kayelekera
Lotus recently adopted global environmental, social and governance (ESG) reporting principles as it develops the Kayelekera Uranium Project in Malawi.
The uranium explorer and developer has committed to work in line with the United Nations’ 17 Sustainable Development Goals and identified some of the most pressing ESG issues surrounding its East African uranium asset.
As it considers its next steps, the ASX-lister has drawn up a list of early initiatives it will weigh up in a bid to better align with global ESG standards.
Lotus is currently preparing its first sustainability report for the Kayelekera project, which is slated for completion later this year.