Lotus Resources (ASX:LOT) updated the mineral resource estimate for the Letlhakane uranium project in Botswana, according to a Friday filing with the Australian bourse.
The project's resource stands at 142.2 million tonnes of material at 363 parts per million triuranium octoxide for 113.7 million pounds, a 65% increase from the previous estimate, the filing said.
Letlhakane is considered a complement project to the Kayelekera project located in Malawi, which is scheduled to restart uranium production by the third quarter of next year, the filing added.
Shares of the mining firm rose nearly 5% in recent Friday trade.
Price (AUD): $0.23, Change: $+0.01, Percent Change: +4.65%
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