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Lotus Resources Accelerates Kayelekera Uranium Restart, Locks in 3.8M lbs Offtake
5:24am on Monday 2nd of June, 2025 AEST
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Mining
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Lotus Resources Accelerates Kayelekera Uranium Restart, Locks in 3.8M lbs Offtake
5:24am on Monday 2nd of June, 2025 AEST
Key Points
Kayelekera uranium project restart on schedule for Q3 2025 with >80% mechanical and electrical completion
Closing cash balance of A$112.7 million, fully funding the restart program with no debt
Binding offtake contracts secured for up to 3.8 million pounds of uranium production from 2026
Electricity grid connection planned for 2026, with interim diesel power station refurbishment underway
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