Australia's Lotus Resources hits near 1-year low as annual loss widens

Lotus Resources

04/09/2024 04:05

** Shares of Lotus Resources  LOT.AX  skid as much as 8.9%
to A$0.205, their lowest level since Oct 23, 2023 
    ** Shares post their biggest intraday pct loss since Aug 5
    ** Uranium miner posts loss after income tax of A$25.2 mln
($16.89 mln) for the year ended June 30, compared with A$10.6
mln a year earlier 
    ** Says acquisition of Lotus Marula resulted in recognition
of A$10.4 mln impairment on exploration and evaluation assets
recognised by unit 
    ** Stock down ~21% YTD, as of last close
    
($1 = 1.4919 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))