April 21, 2021
Lotus Resources Ltd. (ASX:LOT, Not Rated, David A. Talbot) sold non-core Australian assets for A$2.5M in cash and shares as it has reached an agreement to divest its 100% owned Hylea cobalt project, located in New South Wales, Australia. Total consideration is A$1M cash and A$1.5M worth of Sunrise Energy Metals (ASX:SRL, Not Rated), a cobalt developer Chaired by Robert Friedland with an advanced stage cobalt-scandium project. Lotus does maintain its exposure to Co but now within a more liquid vehicle. This helps maintain focus on the cost-savings studies and potential restart at its 85%-owned Kayelekera uranium mine in Malawi. Read more
