Lotus Resources Ltd (ASX:LOT) has appointed Michael Ball as chief financial officer (CFO) in a move that will strengthen the company’s executive team and help it further its uranium project.
Lotus owns an 85% interest in the Kayelekera Uranium Project in Malawi, which hosts a current resource of 37.5 million pounds of U3O8 and historically produced ~11 million pounds of uranium between 2009 and 2014.
The company 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.
Ball will be integral to LOT’s ambitions in Malawi.
Highly experienced appointment
With more than 20 years of experience, most notably in the position of CFO for several ASX listed resources companies, Ball brings a great deal of experience to the team.
Over the past 10 years, Ball has helped Alkane Resources Limited (ASX:ALK), Panoramic Resources Ltd (ASX:PAN) and Gascoyne Resources Ltd (ASX:GCY) in operations including project development through construction and into production.
Ball also has significant capital markets experience and was involved in leading and managing several project financings.
His expertise in feasibility study preparation, operational optimisation, commodity and currency risk management and contract tendering should prove invaluable for Lotus moving forward.
Ball replaces Chris Knee who held the position of CFO over the last two years.
“The company is delighted to attract someone of Michael’s experience to the role of CFO,” LOT managing director Keith Bowe said.
“Michael’s blend of commercial, project development and operational experience is critically important for the company as we continue to position the Kayelekera Uranium Mine for a restart decision in the near future as the uranium price continues to strengthen.
“I look forward to working with Michael, and all of our team, in what shapes as an extremely busy year for Lotus.”