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Lotus bolsters its management team

15th May 2024

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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ASX-listed Lotus Resources has appointed four experienced resource executives to provide the company with additional experience in project development, operations, technical and corporate development, including project financing.

Michael da Costa will join Lotus as COO at the end of May.

Gregory Bittar has been appointed in an advisory role to assist the company in future project financing needs, including debt and capital raising considerations.

Stewart Watkins has been appointed as the front-end engineering design (FEED) manager for the Kayelekera uranium mine, in Malawi.

As previously announced, John Baines has been appointed study manager for the Letlhakane project, in Botswana.

Lotus says Da Costa and Bittar bring broad operational and corporate experience, while the appointments of Watkins and Baines provide additional project development expertise.

Bittar will work closely with the executive team across key corporate and commercial areas including project financing, offtake, investor relations and company strategy.

Da Costa is said to have extensive project delivery, execution and operational experience, which complements Watkins and Baines’ technical and project development skills.

Lotus says it is well funded with a cash balance of about $38-million, as at March 31.

“We are very happy to have been able to attract the quality of personnel that we have with Michael, Greg, Stewart and John. Each of them brings a unique skill set that will ensure Lotus delivers on its strategy of transitioning to a significant global uranium player,” says Lotus MD Keith Bowes.

Da Costa’s previous roles include leading Murray & Roberts’ global mining engineering and construction business as CEO.

He also has significant operational experience.

Da Costa has a Mining Engineering degree from the University of the Witwatersrand and an MBA from Wits Business School.

He will be responsible for project delivery at the Kayelekera mine, with a primary focus on operational readiness on site and at the corporate level to facilitate the transition of Lotus from an explorer/developer to a fully-fledged operating company.

His role will also incorporate oversight of the Letlhakane project, ensuring the study work fits in with the company’s strategy and growth plans moving forward.

Bittar will use his extensive experience in investor relations, restructuring, and mergers and acquisitions to assist the company with developing its strategies moving forward.

He has held a variety of senior executive, advisory and board positions across investment banking, metals and mining and energy companies.

He is currently a nonexecutive director of Horizon Oil and nonexecutive chairperson of Brightstar Resources.

Bittar has a Law degree from the University of Sydney and a Master's in Finance from London Business School.

Lotus has appointed Watkins and Dhamana Consulting to assist in the project management of the Kayelekera project.

Watkins will be responsible for the delivery of the planned FEED programme.

He is director and principal project consultant for Dhamana.

Watkins has more than 30 years’ experience in many facets of the mining industry including operations, engineering consulting, project development and executive management.

Dhamana Consulting is a boutique project management and environmental consulting company based in Perth, Australia, focused on ASX-listed mining companies with projects in Africa.

Baines has extensive operational and technical experience.

He will be responsible for developing and optimising the Letlhakane project through the various study phases, delivering an economic, practical and robust project for execution. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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