April 30, 2021
Lotus Resources Ltd. (ASX:LOT, Not Rated, David A. Talbot) announced today that it will commence trading on the US based OTCQB market, under the ticker LTSRF. The listing should help increase the company’s exposure to the North American market. We also expect increased liquidity and attention paid to Lotus as it becomes more of a trading comp to the bulk of the world’s uranium developers. A PEA was completed in Oct/20 on its Kayelekera mine confirming the potential to return this 85%-controlled mine to production quickly with minimal re-start capex (US$50M) due to its existing infrastructure. The mine had produced 11M lb U3O8 but ceased operations in 2014 due to low uranium prices, leaving 37.5 M lbs U3O8 of resources still available for future production. We see additional upside potential beyond this, with drilling scheduled to begin on targets within 10km of the Kayelekera mine. Inaugural drilling at the Milenje Hills rare earth element prospect (read more) is also planned. Both programs are expected to be completed by H2/21. Read more
