Lotus gets a $25m thumbs up from sector’s best to reawaken world’s great uranium sleeper mine in Malawi

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The support of uranium sector specialists for a major $25 million funding round at next-cab-off-the-rank Lotus Resources shows the massive global interest in LOT’s progress at the world famous Kayelekera uranium project in Malawi.

Kayelekera is one of the largest uranium projects in the world currently on care and maintenance, producing 11Mlbs of U3O8 equivalent a year between 2009 and 2014, making it the fourth largest global asset on care and maintenance.

A DFS last month by Lotus (ASX:LOT) confirmed its huge potential, with an ore reserve of 15.9Mt at 660ppm U3O8 for 23Mlbs backing a 10 year mine life, producing 2.4Mlbs annually over its first seven years.As a restart project leveraging over US$200 million of investment in infrastructure, the mine would have a low capital cost of just US$88m and capital intensity of US$37/lb, with cash and all in sustaining costs (AISC) of […]

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