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Lotus Resources Limited (ASX:LOT)

ALERT: Price-sensitive ASX Announcement for LOT
Current share price for LOT : $0.230 -0.025 (-9.80%)+
Announcement
Release
30 Jul 2026 4:55PM
Price at Release
$0.255
Full Release
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Summary
Lotus Resources Limited reported on their activities for the quarter ended June 2026. They achieved a continued strong mining performance and improved safety metrics. However, production was temporarily halted due to issues with sulphuric acid supply and acid plant commissioning. In response, they have undertaken strategic funding measures to secure future operations. The company also advanced infrastructure and operational capabilities at their Kayelekera site. Their cash balance decreased significantly over the quarter, and they are managing contracted offtake commitments for uranium delivery later in the year.
Key Points
  • No Lost Time Injuries recorded during the quarter.
  • Mining performance strong with approximately 1Mt total material moved.
  • Production temporarily suspended on June 10 due to sulphuric acid supply issues.
  • Acid Plant commissioning progressed with remediation works.
  • Strategic Funding Package announced post quarter end.
  • Investment in operational capability and infrastructure at Kayelekera continued.
  • Cash balance decreased to A$30.2M from A$85.0M.
  • Contracted offtake commitments of approximately 0.9 million pounds of U3O8 for delivery in the second half of CY2026.
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.