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Lotus Resources Limited (ASX:LOT)

ALERT: Price-sensitive ASX Announcement for LOT
Current share price for LOT : $0.230 -1.045 (-81.96%)+
Announcement
Release
1 Apr 2026 8:35AM
Price at Release
$1.275
Full Release
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Summary
Lotus Resources Limited announced that Orano Chimie-Enrichissement has agreed to accept uranium ore concentrate from its Kayelekera Uranium Mine at its conversion facility in France, marking a significant milestone for the company's operations. This acceptance offers delivery flexibility for Lotus across all contracts and future sales. The company's first product dispatch is expected by the second quarter of the 2026 calendar year, contingent on preparation, testing, permits, and shipping arrangements. While the preferred export route is through Dar-es-Salaam, logistical challenges may prompt the use of alternative routes. Lotus produced 98,000 pounds of uranium by the end of 2025 and holds an 85% interest in the Kayelekera mine in Malawi, demonstrating consistent performance improvements and robust supply chains.
Key Points
  • Lotus received confirmation that Orano CE will accept Kayelekera's uranium ore concentrate at its facility in France.
  • Kayelekera's uranium acceptance provides flexibility in delivery for future sales and contracts.
  • Lotus plans to dispatch the first product by Q2 CY26, subject to various conditions.
  • The preferred export route is via Dar-es-Salaam, Tanzania, but alternative routes are considered due to global shipping issues.
  • Lotus produced 98klbs of uranium by 31 December 2025.
  • Lotus owns an 85% interest in the Kayelekera Uranium Mine in Malawi.
  • Lotus achieved this milestone after working with Orano to optimize and qualify its product.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.