Australia's Lotus Resources rises on uranium supply deal with N.American company

Lotus Resources

17/03/2025 03:24

** Shares of Lotus Resources LOT.AX rise around 1.5% to A$0.173

** Co's subsidiary Lotus Africa signed binding contract to sell 600,000 pounds (272 metric tons) of uranium from 2026 to 2029 to a North American power utility

** Co to sell uranium from its Kayelekera project in Malawi, did not disclose name of buyer but said it is one of the largest energy companies in North America

** Stock rose as much as 5.9% earlier in the day

** Stock down 13.8% this year, including the day's move

 (Reporting by Shivangi Lahiri in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com;))