Lotus Resources now has third largest uranium resource on ASX

(via NewsDirect)

Lotus Resources Ltd (ASX:LOT) MD Keith Bowes speaks with Proactive after gaining approval for the merger with A-Cap. Bowes says the deal creates a leading uranium player with significant scale and resources, positioning Lotus for a market re-rating. Lotus will hold mineral resources of 241 million pounds U3O8 at Kayelekera and Letlhakane, increasing Lotus’ resources almost five-fold to become the third largest among ASX listed peers.

“We are exceptionally pleased that the merger has now become legally effective," Bowes said. "This merger delivers Lotus a vastly increased resource base of 241 million pounds uranium, the bulk of which is located in the top 2 global mining jurisdiction of Botswana.

"There is significant work that can be done on Letlhakane in the short term to optimise the value of the project, using Lotus’ proven uranium expertise and skills."

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