The Kayelekera Uranium Project , currently on care and maintenance, is a past producing asset that delivered around 11 million pounds (Mlbs) uranium between 2009 and 2014, before its closure due to low prices
Kayelekera Mine Site. (Credit: Lotus Resources Limited)
Lotus Resources Limited (ASX: LOT, OTCQB: LTSRF) (Lotus or the Company) is pleased to announce the results from the Definitive Feasibility Study (Restart DFS) for the restart of the Kayelekera Uranium Project (Kayelekera or the Project) in Malawi.
The Restart DFS has confirmed Kayelekera ranks as one of the lowest capital cost uranium projects globally whilst also having the ability to quickly recommence production (15 months development for construction/refurbishment) once a Final Investment Decision (FID) has been made.
The Company’s focus is now on accelerating engagement with the various nuclear energy utilities and securing offtake agreements with the necessary volumes and pricing mechanisms to support the restart of Kayelekera whilst also considering various financing options to fund the restart.
Source: Company Press Release