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Lotus Resources Ltd. (ASX:LOT; OTCQB:LTSRF) – Government Shows Support for Fast Tracking MDA at Kayelekera


Impact: Positive

Lotus hosted officials from the Government of Malawi, including the  Malawian Mining Minister and Chief of the Karonga province, at its Kayelekera uranium project. Officials were impressed by the infrastructure available at the site and were satisfied with the work on the environmental, social and water programs. All officials, including the President of Malawi, have shown support for the timely finalization of the Mine Development Agreement (MDA). While the MDA is yet to be signed, the support from the Government is a significant de-risking factor in resuming production, which is being targeted by the end of 2025 (read note). Meanwhile, Lotus is working on the FEED study and is also seeking project financing, including debt and offtake agreements. Lotus is up 105% YoY and remains one of our top picks in the developer peer group (read report).

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