Lotus Resources Updates Letlhakane Scoping Study, Aims for 5.5Mlbpa Uranium Production

An announcement from Lotus Resources Limited ( (AU:LOT) ) is now available.

Lotus Resources Limited announced a correction to its previous ASX announcement regarding the updated Letlhakane Scoping Study, which highlights the project’s potential to produce approximately 3 million pounds per annum (Mlbpa) of U3O8 over a 10-year life of mine. The study supports the project’s viability in a favorable uranium price environment and outlines optimization strategies to reduce costs. With the restart of production at Kayelekera scheduled for Q3CY25, Lotus positions itself as a potential 5.5Mlbpa uranium producer, enhancing its industry standing and offering promising prospects for stakeholders.

More about Lotus Resources Limited

Lotus Resources Limited is a company operating in the uranium industry, focusing on the development and production of uranium projects. Its primary projects include the Letlhakane Uranium Project in Botswana and the Kayelekera Uranium Project in Malawi. The company aims to become a significant global producer of U3O8 by leveraging these assets.

YTD Price Performance: -17.50%

Average Trading Volume: 9,826,978

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$389.8M

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