Lotus Resources’ Managing Director Keith Bowes explains that the perfect storm for higher uranium prices is occurring and shares how Lotus Resources is positioned to profit. He provides a thorough update on the recent progress at the company’s past producing Kayelekera uranium mine in Malawi. 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 37.5Mlbs at 630 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 anticipated that the feasibility study would be completed in Q2 2022, followed by a production decision in early 2023. Then after an estimated 12-to-15-month refurbishment period, uranium ore could be feeding the plant again by early 2024. Lotus management believes this timeline fits well with the expected uranium price boom and offers investors an attractive risk-reward investment value proposition with substantial upside.

Keith Bowes is the managing director of Lotus Resources. He is a highly regarded mining executive with over 20 years of experience working on project development and operations in Africa, South America and Australia across a range of commodities and processes. Keith managed the Boss Resources’ redevelopment program for the Honeymoon Uranium Mine, including all study phases and commercial trials of the new processing technology. As part of the study he led the development in the application of two new technologies that have redefined the Honeymoon opportunity (leach chemistry and IX resins).

0:00 Introduction
1:06 Uranium price commentary
4:02 Lotus potential price contracting
5:48 Perfect storm for a rising uranium price
6:17 Lotus to produce about 3Mlbs U3O8 per year
7:48 Lotus’ competitive advantage
8:52 Resource expansion
10:45 Permits & licenses in place
11:03 Rare Earths exploration
12:55 Ore sorting advancement
18:05 Paladin’s sale of Lotus shares
19:21 Lotus’ divestment of cobalt project
20:20 Upcoming catalysts

Tickers: LOT:ASX - LTSRF:OTC

Sept 2021 corporate presentation: https://app.sharelinktechnologies.com/announcement/asx/0abaafb213664f8e5f8a4b2ff3d108d2
Website: https://lotusresources.com.au/

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