LOT - Lotus Resources

[brerwallabi]

Well it finally arrived an upgraded MRE for the Letlhakane project in Botswana.
The indicated resources sees an increase of 65% after infill drilling of 164 holes for just over 12000 metres.
The drilling has also identified further Mineral Resource growth which will be assessed in the next planned drilling campaign.
Lotus shares are up 1.5cents today to 23 cents.

 

[Sean K]

Not sure what can change the fortunes of this except spot price increasing for some positive sentiment, or they get into production on time. Spot increase shouldn't really matter when they're getting into long term contracts. Although, maybe future contracts will represent the prevailing spot at the time.

Been a horrible year.

 

[Antirnator]

This popped up on my weird radar as a Uranium stock but I haven't had time to do my usual superficial investigation. Is African Uranium a stable stock??

 

[Sean K]

This popped up on my weird radar as a Uranium stock but I haven't had time to do my usual superficial investigation. Is African Uranium a stable stock??

Namibia is one of the best jurisdictions for uranium plays but Malawi is a pretty small player for resources. LOTs main asset was actually mined and produced some yellow cake before the U price imploded after Fukushima. There's several major miners doing business in Malawi now and they seem open for business from what I've followed, unlike West Africa which is trying it's best to kill the gold and bauxite industries. So, Malawi relatively stable and there shouldn't be any issues with restarting their mine.

In fact, I just looked at the market and this popped up:

 

[PZ.]

I've decided to jump on this stock at this relatively low price. Last few updates are positive in my view but the stock keeps getting dragged down by the spot price and/or the ETF...

URA | Global X Uranium ETF (URA NYSE) - Investing.com AU

Get detailed information about the Global X Uranium ETF. View the current URA share price chart, historical data, Global X Uranium reports and more.

au.investing.com

 

[PZ.]

Ore processing on the way, strong cash in the quarterly, final reg approval for Kayelekera, binding offtake contracts and a new CFO. Worth a tip in the comp

 

[Sean K]

LOT have really dragged their heels to get to this point. The Botswana sidetrack was an unrequired distraction to get this back up and running IMO. Although most explorers/developers have come off in a similar way since POU spiked and crashed, this has been an ugly 18 months since topping out at 50c for long term holders. Looks like 15c ish could have been the bottom.

 

[Antirnator]

Oh no... ?

 

[Dona Ferentes]

Oh no... ?

View attachment 207556

oh yes !!

..trading halt request is pending an announcement regarding a capital raise.
.
.
do you have a Lotus position?

 

[Antirnator]

Small parcel held.


Lotus position: It will be fine, it is a medium/long term win

 

[Antirnator]

 

[Dona Ferentes]

View attachment 207651

and back trading ... 18.5c low