Australia's Lotus Resources gains as co advances restart plan for Malawi project

Lotus Resources

08/10/2024 03:45

Oct 8 (Reuters) -    ** Shares of Lotus Resources
 LOT.AX  rise as much as 6.7% to A$0.278, their biggest intraday
pct gain since Sept 26
    ** Stock hits its highest level since Sept 27
    ** The uranium explorer announces an accelerated restart
plan for its Kayelekara project in Malawi
    ** Says co to reduce time to first uranium production to
8-10 months from 15 months
    ** Adds initial restart capital expenditure reduced to $50
mln from $88 mln
    ** Lotus Resources' stock down 6.1% YTD, including current
session's moves

    
    

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))