Lotus Resources Limited · ASX:LOT
Lotus Resources — Investor Presentation (January 2025)
32 slides from Lotus Resources's investor presentation, Jan 28, 2025
Slide 1: The Next Global Uranium Producer
For personal use only THE NEXT GLOBAL URANIUM PRODUCER January / February 2025
Slide 2: Important notice
Important notice FORWARD LOOKING STATEMENT For personal use only Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to the part of any person, for any loss arising from the use of the presentation or its contents or otherw
Slide 3: Executive summary
Executive summary Kayelekera – Low capital intensity Strategic priorities Fully funded into production brownfield uranium restart project for Lotus For personal use only ● The next global uranium producer – only new material ● Equity raising proceeds fund Kayelekera through to first ● Accelerated re
Slide 4: Snapshot of Lotus Resources
Snapshot of Lotus Resources Near-term uranium producer with two strategic long-life projects Shares on issue (ASX: LOT) 2,363m KAYELEKERA, MALAWI1 For personal use only Options 37m ● 85% owned restart uranium project; existing plant & infrastructure; refurbishment works approved Share Price (23 Jan
Slide 5: The next global uranium producer
The next global uranium producer Large-scale Mineral Resource of 165Mlb U3O8 comprising the Kayelekera For personal use only 01 2025 restart project and the large-scale Letlhakane project1, well positioned for the market’s long-term structural supply deficit Kayelekera production restart is targeted
Slide 6: Board of Directors – in transition
Board of Directors – in transition For personal use only Leeanne Heywood Simon Hay Non-Executive Director Non-Executive Director – 3 February – 3 February Michael Bowen Ms Heywood is an experienced non-executive director, audit and Mr Hay is high achieving minerals professional with Non-Executive Ch
Slide 7: Highly experienced team to deliver the Kayelekera restart
Highly experienced team to deliver the Kayelekera restart ● Mr Bowen is a partner of the national law firm Thomson Geer practising corporate, commercial and securities law Michael Bowen ● Over 40 years of experience and emphasis on mergers, acquisitions, capital raisings and resources Chairman ● Cu
Slide 8: Accelerated restart takes advantage of strong uranium price environment
Accelerated restart takes advantage of strong uranium price environment Kayelekera to deliver product into a strengthening long-term pricing environment IMMEDIATE EXPOSURE TO CURRENT PRICING ENVIRONMENT1 For personal use only PHASED FUNDING APPROACH TO MULTI-ASSET URANIUM PRODUCER 120 Recent spot pr
Slide 9: Funding instruments in place – circa US$43m of working cap liquidity
Funding instruments in place – circa US$43m of working cap liquidity Existing cash, equipment and working capital facilities and committed Curzon unsecured loan2 fund Kayelekera For personal use only INDICATIVE FUNDING PLAN FOR KAYELEKERA (US$M) – AS AT 31 DECEMBER 2024 ● Lotus expects cash on balan
Slide 10: Kayelekera Restart
For personal use only 1 KAYELEKERA RESTART
Slide 11: Kayelekera highlights
Kayelekera highlights Kayelekera is a world-class uranium project with compelling economics KEY HIGHLIGHTS1,2 For personal use only 10 year 2.4Mlbs p.a. US$50m US$21/lb 2-year mine life avg. U3O8 production initial restart capex initial capital intensity5 payback period6 targeting first production d
Slide 12: Kayelekera Life of Mine metrics
Kayelekera Life of Mine metrics For personal use only PRODUCTION AND OPERATING COSTS1 OPERATIONAL METRICS1,2,3 ● No change to LOM production of 19.3Mlbs over 10 years2 Ramp Up Mining Stockpile ● Steady-state C1 cash cost of US$34.5/lb compared to US$29.1/lb in the DFS2,3,4, the Phase Phase5 Phase pr
Slide 13: Kayelekera development plan
Kayelekera development plan Plant and equipment represents more than US$200m in sunk capital and a significantly higher replacement cost For personal use only 2 1. ROM Feed / Ore Sorter 2. Jaw Crusher 1 3. SAG Mill 4. Process Water Tank 18 5. Pre-leach Thickener 3 17 5 6. Leach 6 11 7. Resin-In-Pulp
Slide 14: Kayelekera fully funded roadmap to production
Kayelekera fully funded roadmap to production The accelerated production plan brings forward first U3O8 production in Q3 2025 For personal use only Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 MDA FEED Development & Fully Funded Funding Restart Initial offtake Contracting Build and main
Slide 15: Accelerated Restart Plan
Accelerated Restart Plan Accelerated production plan confirms world-class economics with one of the lowest capital intensity projects globally For personal use only ● The comprehensive FEED program lays the foundation for the Accelerated Restart DFS ACCELERATED Plan to reduce initial restart capital
Slide 16: Kayelekera initial capital cost
Kayelekera initial capital cost Accelerated Production Plan reduces initial restart capital from US$88m to US$50m DFS CAPITAL COST INITIAL RESTART DEFERRED CAPITAL For personal use only ● Key updates to the initial capital schedule: ESTIMATES CAPEX5 (YEARS 1 – 2)5 − Grid connection and sub-station u
Slide 17: ESIA – Environmental and Social Impact Assessment
ESIA – Environmental and Social Impact Assessment Targeting April 2025 for re-approval to support overall TIMETABLE restart timeline For personal use only Date Action / Milestone CONTEXT Early Feb 2025 Meet with MEPA to discuss draft ESIA • The Malawi Environmental Protection Authority (MEPA) has di
Slide 18: Power Grid Connection and ESCOM
Power Grid Connection and ESCOM Reduce cost of production and reduce carbon footprint Key workstreams are progressing as LOTUS works closely with ESCOM and MEPA For personal use only • Environmental Social Management Plan (ESMP) approved by MEPA on 5 December 2024 • Compensation Assessment for impac
Slide 19: Community Development Agreement
Community Development Agreement Signed 6 January 2025 For personal use only CONTEXT • Developed CDA with • CDA focuses on ensuring that rights, customs, and traditions of local 2022 CSOs and local communities are respected and that communities are actively engaged and communities (2022) benefit from
Slide 20: Untapped near mine uranium exploration potential
Untapped near mine uranium exploration potential ● Significant potential for additional uranium mineralisation within the Kayelekera For personal use only mining lease (ML152) − The Karoo Sandstone beds that host the uranium at Kayelekera extend throughout the mining lease and adjacent exploration l
Slide 21: Significant regional exploration potential
Significant regional exploration potential LIVINGSTONIA and NTHALIRE SOUTH ● Livingstonia hosts a resource of 4.8Mlb U3O81 - potential to extend mineralisation plus delineating additional NW trending mineralised channels ● The Livingstonia Inferred Mineral Resource suggests the presence of two highe
Slide 22: Uranium Offtake Strategy
For personal use only 3 URANIUM OFFTAKE STRATEGY
Slide 23: Offtake strategy
Offtake strategy Lotus is targeting a balanced offtake portfolio across fixed, market linked and spot prices For personal use only LOTUS OFFTAKE PHILOSOPHY TARGET OFFTAKE CONTRACT DISTRIBUTION (% OF OFFTAKE PORTFOLIO) ● Fixed price escalated to cover more than half of expected cash operating costs A
Slide 24: Letlhakane Overview
For personal use only 4 LETLHAKANE OVERVIEW
Slide 25: Letlhakane development to closely follow Kayelekera
Letlhakane development to closely follow Kayelekera A large/long life, high value uranium project in a resource friendly mining jurisdiction For personal use only ● Globally significant uranium Mineral Resource (114Mlb U3O8, RPEEE basis) − In the top mining jurisdiction in Africa, and top 4 globally
Slide 26: Uranium Market Overview
For personal use only 5 URANIUM MARKET OVERVIEW
Slide 27: Nuclear is essential to the clean energy transition
Nuclear is essential to the clean energy transition NUCLEAR PROVIDES A DIFFERENTIATED VALUE PROPOSITION2 NUCLEAR PROVIDES A UNIQUE COMBINATION OF ATTRIBUTES THAT SUPPORT THE For personal use only CLEAN ENERGY TRANSITION ● Nuclear meets a range of key criteria important for the clean energy transitio
Slide 28: Governments globally are backing growth in nuclear power generation
Governments globally are backing growth in nuclear power generation GOVERNMENTS ARE INCREASINGLY BACKING NUCLEAR TO ACHIEVE GLOBAL NUCLEAR BUILD-OUT1 DECARBONISATION 28 countries 1000 incl 4 new For personal use only 900 ● At the UN's COP28 climate change conference in December 2023, 22 countries si
Slide 29: Forecast uranium supply is not sufficient to meet forecast demand
Forecast uranium supply is not sufficient to meet forecast demand MAJOR TRENDS UNDERPIN STRONG DEMAND GROWTH DEMAND AND SUPPLY FORECASTS1 ● The clean energy transition, with 31 countries pledging to triple nuclear generation by 2050 For personal use only 350 ● Nuclear generation capacity growth driv
Slide 30: Annexure
For personal use only 6 ANNEXURE
Slide 31: Annexure 1: Consolidated uranium Mineral Resources & Ore Reserves
Annexure 1: Consolidated uranium Mineral Resources & Ore Reserves 1. See ASX announcements dated 15 February 2022 and 9 June 2022 for Grade U3O8 U3O8 information on the Kayelekera and Livingstonia Mineral Resource Estimates. For personal use only Lotus confirms that it is not aware of any new inform
Slide 32: Contact Us
For personal use only Contact Us Greg Bittar For further information visit: www.lotusresources.com.au Chief Executive Officer www.lotusresources.com.au LOT:ASX | LTSRF:OTCQX
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