Lotus Resources (ASX:LOT) signs significant agreements for Kayelekera Uranium Project

Lotus Resources Limited (ASX:LOT) has signed two uranium offtake arrangements for a total of 1.5 million lbs of uranium for 2026 - 2029, at an escalated fixed price. Additionally, the company has secured a US$15 million unsecured loan facility from Curzon Uranium to provide part of the funding for the Kayelekera restart.

Executive Commentary on Lotus Resources' Recent Agreements

Lotus CEO Greg Bittar expressed, 'Our first two sales contracts, coupled with unsecured financing with significant drawdown flexibility, mark a terrific milestone for Lotus and our Kayelekera Project, demonstrating customers' confidence in the strength of the uranium market as well as providing a strong endorsement of our plans for the project. Through the initial offtake and prepayment / funding discussions, we have established critical knowledge and a breadth of long-term industry relationships with multiple substantial strategic customers. This will serve us well as we look to secure further contracts closer to the commencement of production.'

Summary of Lotus Resources' Recent Developments

Lotus Resources (ASX:LOT) has successfully secured two uranium offtake arrangements and a US$15 million unsecured loan facility for the restart of its Kayelekera Uranium Project in Malawi. The offtake agreements, totaling 1.5 million lbs of uranium, are set for delivery from 2026 to 2029 at an escalated fixed price. The company's CEO, Greg Bittar, highlighted the significance of these agreements, emphasizing the confidence they instill in the uranium market and the endorsement of their project plans. Lotus continues to engage with North American nuclear power utilities and commodity trading houses for additional offtake agreements, aiming to leverage demand for contract pricing based on long-term uranium prices. These recent developments position Lotus to advance its production plans and strengthen its industry relationships, paving the way for further contracts as production nears commencement.