Mining Stock Education

Lotus Resources’ Managing Director Keith Bowes explains why the company has become even more attractive to both investors and utilities amidst the geopolitics of the Ukraine-Russia conflict. He provides a thorough update on the recent progress at the company’s past producing Kayelekera uranium mine in Malawi. Lotus recently increased its U3O8 resources by 23% to 46.3Mlbs after its recent exploration success. The updated mineral resource estimate will be incorporated into the new mine plan for the Definitive Feasibility Study (DFS) which remains on track for mid-2022. Lotus owns 85% of the Kayelekera mine, which was acquired from Paladin Energy in the beginning of 2020. Kayelekera produced about 11Mlbs from 2009 to 2014 before being put on care and maintenance due to low uranium prices. The mine has an existing resource of 46.3Mlbs at 500 ppm U3O8 as well as multiple near-mine exploration targets. A scoping study was completed that estimates only US$50M capex is needed to recommence production. It is antic