Lotus Resources Becomes Even More Attractive Amidst Ukraine-Russia Conflict with MD Keith Bowes

Mining Stock Education

Lotus Resources’ Managing Director Keith Bowes explains why the company has become even more attractive to both investors and utilities amidst the geopolitics of the Ukraine-Russia conflict. He provides a thorough update on the recent progress at the company’s past producing Kayelekera uranium mine in Malawi. Lotus recently increased its U3O8 resources by 23% to 46.3Mlbs after its recent exploration success. The updated mineral resource estimate will be incorporated into the new mine plan for the Definitive Feasibility Study (DFS) which remains on track for mid-2022. Lotus owns 85% of the Kayelekera mine, which was acquired from Paladin Energy in the beginning of 2020. Kayelekera produced about 11Mlbs from 2009 to 2014 before being put on care and maintenance due to low uranium prices. The mine has an existing resource of 46.3Mlbs at 500 ppm U3O8 as well as multiple near-mine exploration targets. A scoping study was completed that estimates only US$50M capex is needed to recommence production. It is anticipated that the feasibility study would be completed in mid-2022, followed by a production decision in early 2023. Then after an estimated 12-to-15-month refurbishment period, uranium ore could be feeding the plant again by early 2024. Lotus management believes this timeline fits well with the expected uranium price boom and offers investors an attractive risk-reward investment value proposition with substantial upside. 0:00 Introduction 2:05 Uranium market commentary 3:08 Ukraine-Russia conflict’s impact on uranium market 6:38 23% increase in MRE to 46.3Mlbs U3O8 9:10 New permits need for the bigger pit? 10:09 Metallurgy consistent? 10:36 Ore sorting tech allows for lower grade to 200ppm U3O8 14:50 Exploration potential 16:30 Inflation and DFS forecasts 18:37 Potentially shipping ore to North America 19:35 Recruiting personnel to run the mine? 20:20 Lotus consultant engaging utilities 21:36 How soon will you lock in price contracts? 22:30 Treasury and burn rate Tickers: LOT:ASX - LTSRF:OTC Corporate presentation: https://app.sharelinktechnologies.com/announcement/asx/897ff5d79dbb11465d0796bfc71ee950 Press releases discussed: https://app.sharelinktechnologies.com/announcement/asx/897ff5d79dbb11465d0796bfc71ee950 https://app.sharelinktechnologies.com/announcement/asx/8e06003dfb007094193008042f064fc6 Website: https://lotusresources.com.au/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Lotus Resources is an MSE sponsor. The content found on MiningStockEducation.com is for informational purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. It is based on opinions, SEC filings, current events, press releases and interviews but is not infallible. It may contain errors and MiningStockEducation.com offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on MiningStockEducation.com or our videos. We may hold equity positions in and/or be compensated by some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. MiningStockEducation.com may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on MiningStockEducation.com is to be used at your own risk. By reading MiningStockEducation.com, you agree to hold MiningStockEducation.com, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.