PERTH, Australia, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Lotus Resources (ASX:LOT; OTCQB:LTSRF), based in Perth, Australia, focused on uranium development projects, today announced that Keith Bowes, Managing Director, will present live at the Clean Energy and Precious Metals Virtual Investor Conference, hosted by VirtualInvestorConferences.com, on December 4th.
DATE: December 4th
TIME: 10:00am (ET)
LINK: https://bit.ly/3rOONJH
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.
Learn more about the event at www.virtualinvestorconferences.com.
Recent Company Highlights
- Completion of the Merger with A-Cap Energy and the inclusion of the Letlhakane Project into Lotus’ portfolio of uranium assets.
- Release of the Company’s third Sustainability Report.
- Progress on pre-FID activities for Kayelekera, including negotiations with relevant parties on Power Supply Agreement (PSA), uranium offtake, financing strategy and Mine Development Agreement (MDA).
- Preparation underway with Operational Readiness plans, including undertaking a Front-end Engineering and Design (FEED) program.
About Lotus Resources
Lotus Resources Ltd is an ASX listed company that owns an 85% interest in the Kayelekera Uranium Mine located in Malawi, Africa and has recently acquired a 100% interest in the Letlhakane Uranium Project in Botswana.
Lotus’s Kayelekera mine in Malawi is a past producer, having produced 11Mlb U3O8e between 2009 and 2014, and is currently on care and maintenance pending a restart. The mine is fully permitted, and Lotus completed a re-start definitive feasibility study in 2022 based on its current Mineral Resources Estimate of 51Mlbs U3O8e. The study indicated capex of only US$88M is needed to re-start operations and that Kayelekera can be producing uranium within 15 months of a Final Investment Decision (FID). The mine will have a robust Mine Life of 10 years, producing a total of 19.3Mlbs U3O8 at a peak rate of 2.4Mlbs U3O8 per annum, with a highly competitive C1 cost of US$29.10/1lb and AISC costs of US$36.20/lb.
On 7 November 2023, Lotus announced the completion of the merger, via a scheme of arrangements, with A-Cap Energy, another ASX listed company, that holds the 190Mlb 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 or 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.
The merger fundamentally changes Lotus’ business from a single asset to two highly complementary and synergistic projects, both located in the same region and along a similar geological trend. The merged group will have combined resources of 241Mlbs U3O8e which can underpin production over several decades.
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
CONTACTS:
Lotus Resources Limited
Keith Bowes
Managing Director
+61 8 9200 3427
Keith.bowes@lotusresources.com.au
Virtual Investor Conferences
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com
