Bell Potter sees Australia's Lotus Resources meeting production target at Malawi mine

Lotus Resources

15/07/2025 04:22

** Lotus Resources LOT.AX falls 1.4% to A$0.1725

** Bell Potter says uranium explorer likely to meet first production target from Malawai's Kayelekara project in September quarter, assuming commissioning of rest of the plant in mid-August with stockpiled ore

** Commissioning is the process that brings a mine to its production stage

** Kayelekera was shut in 2014 due to sustained low uranium prices

** Brokerage says co's working capital of $48.5 mln should be sufficient to cover cash requirements during ramp up period, dependent on extent of any issues in the phase

** Retains "buy", PT of A$0.35

** Assigns "speculative risk", indicating stock may not be suitable for retail clients

** LOT falls 13.8% YTD

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))