Australia's Lotus Resources jumps on uranium operations update

Lotus Resources

04/12/2025 02:47

** Shares of Lotus Resources LOT.AX rise as much as 9.4% to A$0.175, their highest level since November 20

** Stock set for its strongest trading session in two weeks

** Uranium explorer expects steady state operational production level for Q1 CY26 at its Kayelekera mine

** Initial ramp-up of processing in November and December has been impacted by sulfuric acid availability and supply chain challenges, says co

** Kayelekera mine in Malawi, Africa, produces uranium oxide used in nuclear power industry - co's website

** Stock down 16.3% YTD, including day's moves

($1 = 1.5135 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))