Lotus Resources and A-Cap Energy merge to create new African uranium powerhouse

Lotus Resources A-Cap Energy ASX LOT ACB merge Africa uranium powerhouse Junior Australian uranium companies Lotus Resources (ASX: LOT) and A-Cap Energy (ASX: ACB) have agreed to come together to help develop two exciting projects in Africa.

The aim of the merger is to progress Lotus’ ready-to-resurrect Kayelekera uranium project in Malawi and A-Cap’s world class Letlhakane uranium asset in Botswana.

Currently on care and maintenance, Kayelekera is ranked as the fourth largest uranium asset globally based on its historical annual production.

The project produced ~11 million pounds of triuranium octoxide (U3O8) equivalent over five-years between 2009-2014, before the asset was shutdown to preserve its longevity due to a sustained low uranium price.Already covered by a mining licence and environmental permits and with the government as 15% owners of the projects, Lotus considers Kayelekera has all the elements to quickly return to production.That sentiment is supported by a 2022 definitive feasibility study […]

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