Lotus Resources Limited ( (AU:LOT) ) has issued an announcement.
Lotus Resources Limited has signed a binding uranium offtake agreement with a large North American power utility for the sale of 600,000 lbs of uranium from 2026 to 2029. This agreement, along with a previously announced deal with Curzon, forms part of Lotus’s strategy to secure long-term, fixed-price contracts, minimizing spot market exposure. The company is on track to restart production at its Kayelekera project by Q3 2025, with plans to produce up to 3.2 million lbs of uranium by 2026. This strategic move positions Lotus to leverage the ongoing demand for uranium and strengthens its market positioning by ensuring stable revenue streams.
More about Lotus Resources Limited
Lotus Resources Limited is a company operating in the uranium industry, primarily focused on the production and sale of uranium from its Kayelekera project. The company is engaged in securing long-term contracts with major utilities, particularly in North America, to ensure stable pricing and reduced exposure to spot market volatility.
YTD Price Performance: -15.00%
Average Trading Volume: 9,584,552
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$401.7M
Find detailed analytics on LOT stock on TipRanks’ Stock Analysis page.