Name of the Project
Letlhakane uranium project.

Location
Botswana.

Project Owner/s
ASX-listed uranium developer Lotus Resources.

Project Description
The study has confirmed the project’s potential to become a significant uranium operation and complements the company’s production at the Kayelekera uranium project, in Malawi.

The project case is a ten-year life-of-mine (LoM) producing three-million tonnes a year of triuranium octoxide (U₃O₈) for total LoM production of 29-million pounds U₃O₈.

The production schedule is based on 45-million pounds (75% of which is in the indicated mineral resource category) in the mill feed, being about 40% of Letlhakane’s global resource of 114-million pounds.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Funding in the order of an estimated $465-million will likely be required for startup capital.

Planned Start/End Date
Not stated.

Latest Developments
Lotus is advancing trade-off studies, including:

• a two-stage leach process that retains the original uranium extraction, but minimises acid consumption.
• a modified downstream process that aims to eliminate solvent extraction and better control impurities.
• testing with potential mining contractors to determine the optimal mining approach and methodology.

Key Contracts, Suppliers and Consultants
SnowdenOptiro (mineral resources, openpit optimisation and mining costs); and Ashmet (updated plant and infrastructure capital and operating expenditures).

Contact Details for Project Information
Lotus Resources, tel +61 8 9200 3427 or email info@lotusresources.com.au.