Lotus Resources Limited announce the Mineral Resource Estimate for the Kayelekera Uranium mine in Malawi has increased to 46.3Mlbs at 500 ppm U3O8. This is a 23% increase compared to the previous MRE. The updated MRE will form the basis of a revised mine plan to be incorporated in the Definitive Feasibility Study (DFS), that remains on track for mid-2022.

Whilst a portion of the updated MRE is a result of the recent exploration success at the Kayelekera Project, the majority of material was included due to decreasing the cut-off grade from 300ppm to 200ppm. They are comfortable with this revised cut-off grade given the success to date from ore sorting test work on material from the Project, as well as the continuing strengthening of fundamentals for the sector, including higher uranium prices.