Lotus Resources Updates Scoping Study for Botswana Uranium Project; Shares Rise 6%

MT Newswires Live

Mar 12, 2025

Lotus Resources (ASX:LOT) said an updated scoping study for its Letlhakane uranium project in Botswana shows the project can support a 10-year life-of-mine producing 3 million pounds per annum for a total life-of-mine production of 29 million pounds, according to a Wednesday Australian bourse filing.

The study is based on its December 2024 mineral resource estimate.

The optimization of mining costs and acid consumption for the selected case demonstrated an optimal cash cost of $35 per pound.

The company is progressing with trade-off studies for the project, including a two-stage leach process that retains the original uranium extraction, but minimizes acid consumption, as well as a modified downstream process that aims to eliminate solvent extraction and better control impurities.

The firm's shares rose 6% in recent trading on Wednesday.

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