Name of the Project
Kayelekera uranium project.

Location
Karonga district, northern Malawi.

Project Owner/s
Lotus Resources.

Project Description
Kayelekera, currently under care and maintenance, is a successful past producer of uranium, having delivered about 11-million pounds of uranium to the market from 2009 to 2014.

A restart definitive feasibility study (DFS) has confirmed Kayelekera as one of the lowest capital-cost uranium projects worldwide while having the ability to quickly restart production once a final investment decision has been made.

The DFS is based on an ore reserve estimate of 15.9-million tonnes at 660 parts per million uranium for 23-million pounds of uranium.

Average production is estimated at 2.4-million pounds of uranium a year over a 9.5-year life-of-mine (LoM). The LoM includes four years of stockpile treatment.

Potential Job Creation
More than 600 jobs will be created for the local community.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
$88-million.

Planned Start/End Date
With a plant refurbishment timeline of 12 to 15 months, first production could be achieved by the first quarter of 2024 and first shipment to customers in the second quarter of 2024.

Latest Developments
Lotus is accelerating engagement with the various nuclear energy utilities and securing offtake agreements with the necessary volumes and pricing mechanisms to support the restart of Kayelekera while considering various financing options to fund the restart.

Key Contracts, Suppliers and Consultants
Orelogy Mining Consultants (pit optimisation, mine design and production scheduling ore reserve); Gill lane Consulting (mineral resource estimate); Merrill Ford Independent Metallurgical Operations (metallurgical/process design); Steinert (ore sorting) Nagrom (metallurgical test work); Senet (process plant and infrastructure, and cost estimate compilation); SLR Consulting (tailings and water); Mine Technics (openpit); SLR Consulting (plant); InfinityCorp (financial model); Dhamana (community and environment); Mine Earth (mine closure plan and cost estimate).

Contact Details for Project Information
Lotus Resources, tel +61 89 278 2441 or email info@lotusresources.com.au.