Lotus Resources Limited (AU:LOT) has released an update.
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Lotus Resources Limited has announced significant progress in its uranium projects, with the completion of the front-end engineering design program at Kayelekera, reducing the time and cost to restart production. The company has secured conditional uranium offtake agreements and a $15 million loan facility, and signed a mine development agreement with the Government of Malawi. Furthermore, the Letlhakane scoping study highlights a potential long-term, high-value mining operation, with ongoing efforts to optimize mining costs.
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