Creating a Leading African-Focused Uranium Company with Long-Term Potential
Stock Code:
ASX: LOT, OTCQB: LTSRF
Company Exposure:
Uranium
Project Locations:
Malawi, Botswana
Lotus Resources Ltd is an Australian Stock Exchange listed company that owns an 85% interest in the Kayelekera Uranium Mine located in Malawi, Africa and a 100% interest in the Letlhakane Uranium Project in Botswana, Africa.
Lotus released a re-start definitive feasibility study (DFS) in August 2022 that highlighted Kayelekera ranks as one of the lowest capital costs (US$88M) uranium projects globally, whilst also having the ability to quickly recommence production (15 months development for construction/refurbishment) once a final investment decision (FID) has been made.
On 7 November 2023, Lotus announced the completion of the merger with A-Cap Energy resulting in the acquisition of the 190Mlbs U3O8e Letlhakane Uranium project in Botswana. Botswana is one of the top mining jurisdictions in the world, and the top mining jurisdiction in Africa, with diamonds, copper, nickel, and coal currently/historically mined there. The Letlhakane project is a greenfield project, but is located close to existing infrastructure (road, rail, power, and water) and the nearby population centres, including Francistown, can provide a ready workforce.
Project Overview
Kayelekera, Malawi
- Existing plant and infrastructure in good condition
- Proven production with ~11MIbs U3O8 over five years (2009-2014), before shutdown due to low uranium price
- Mining licence and environmental permits in place
- Skilled local workforce with previous experience at Kayelekera
Letlhakane, Botswana
- Globally significant uranium resource (190Mlb U3O8) — ready for development
- Mining licence in place since 2016
- Historical scoping study (2016) envisaged an operation producing 2.4Mlbspa of uranium over an 18-year mine life
- Close to major existing infrastructure — roads, rail, and power
