Lotus Resources Limited · ASX:LOT
Lotus Resources — Macquarie Australia Conference 2025
25 slides from Lotus Resources's conference presentation, May 6, 2025
Slide 1: The Next Global Uranium Producer
For personal use only THE NEXT GLOBAL URANIUM PRODUCER Macquarie Australia Conference May 2025
Slide 2: Important notice
Important notice FORWARD LOOKING STATEMENT Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fulles
Slide 3: The next global uranium producer
The next global uranium producer Large global Mineral Resource of 165Mlb U3O8 comprising the restart-ready Kayelekera and the large-scale Letlhakane1, For personal use only well positioned in a long-term structural supply deficit Strategic window to be the only significant new market entrant through
Slide 4: Lotus Snapshot
Lotus Snapshot Near-term uranium producer with two strategic projects delivering scale and life KAYELEKERA, MALAWI Capital Structure For personal use only ● 85%-owned restart uranium project1; first production Q3 20252 Shares on issue (ASX: LOT) 2,365m ● Mine Development Agreement (MDA) guarantees 1
Slide 5: Corporate overview: Experienced Board
Corporate overview Experienced Board For personal use only Michael Bowen Greg Bittar Leanne Heywood Simon Hay Dixie Marshall Non-Executive Chairman Managing Director Non-Executive Director Non-Executive Director Non-Executive Director ● Partner of the national law firm ● Capital markets/finance and
Slide 6: Highly experienced team delivering Kayelekera restart
Highly experienced team delivering Kayelekera restart Greg Bittar ● +25 years of experience across investment banking, metals and mining and energy companies Managing Director ● Experience in funding, exploration, M&A, project evaluation and project development studies Hayden Bartrop ● Extensive man
Slide 7: Kayelekera, Malawi
For personal use only KAYELEKERA, MALAWI
Slide 8: 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 9: Kayelekera advancing towards Q3 CY25 uranium production
Kayelekera advancing towards Q3 CY25 uranium production MILESTONES COMPLETED Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 For personal use only ✓ Accelerated Restart Strategy Development & MDA FEED ✓ A$132M Placement and SPP to fund restart Funding Fully Funded Restart ✓ All key equipment o
Slide 10: Kayelekera restart fully funded – ~US$43m of working cap liquidity
Kayelekera restart fully funded – ~US$43m of working cap liquidity Existing cash, equipment and working capital facilities2 and committed Curzon unsecured loan3 fund Kayelekera For personal use only INDICATIVE FUNDING PLAN FOR KAYELEKERA (US$M) – AS AT 31 MARCH 2024 4 15 33 20 19 40 124 Overlaps wit
Slide 11: Restart Activities
Restart Activities Lotus is rapidly progressing refurbishment of key elements of the process plant For personal use only Diesel generator lift Drying and Packaging plant – plinth foundations ready for calciner installation Acid plant refurbishment Grinding mill refurbishment LOTUSRESOURCES.COM.AU |
Slide 12: Letlhakane Overview
For personal use only LETLHAKANE OVERVIEW
Slide 13: Positioning Letlhakane for development
Positioning Letlhakane for development A large-scale, long life, high value uranium project to follow Kayelekera For personal use only ● Globally significant uranium Mineral Resource - 114Mlb U3O8 (RPEEE basis) − In the top mining jurisdiction in Africa, and top 4 globally1 − Mining Licence and othe
Slide 14: Letlhakane can support large scale annual uranium production
Letlhakane can support large scale annual uranium production SCOPING STUDY OUTCOMES • Updated Scoping Study, based on December 2024 MRE1 For personal use only • Selected case supporting ~3Mlbpa of U3O8 production • 10-year life of mine (LoM) producing 3Mlbpa for total LoM production of 29Mlb2 • Prod
Slide 15: Uranium Market Overview
For personal use only URANIUM MARKET OVERVIEW
Slide 16: Nuclear is essential to the clean energy transition
Nuclear is essential to the clean energy transition – uniquely meets key criteria NUCLEAR PROVIDES A DIFFERENTIATED VALUE PROPOSITION2 For personal use only CLEAN, RELIABLE BASELOAD POWER ON A SMALL FOOTPRINT ● Currently generates 9% of global electricity; but circa 30% of emission free power 1 ● Ca
Slide 17: Governments globally are backing nuclear, especially China and India
Governments globally are backing nuclear, especially China and India GLOBAL NUCLEAR BUILD-OUT1 28 countries 1000 incl 5 new For personal use only GOVERNMENTS ARE INCREASINGLY BACKING NUCLEAR TO ACHIEVE DECARBONISATION 900 ● At the UN's COP28 climate change conference in December 2023, 22 countries s
Slide 18: Forecast uranium supply is not sufficient to meet forecast demand
Forecast uranium supply is not sufficient to meet forecast demand URANIUM DEMAND AND SUPPLY FORECASTS1 MAJOR TRENDS UNDERPIN STRONG DEMAND GROWTH 350 For personal use only ● Nuclear generation capacity growth driven by three key trends: Letlhakane a longer term, multi decade supplier − Reactor life
Slide 19: Kayelekera offtake strategy
Kayelekera offtake strategy Targeting a predominantly contracted offtake portfolio URANIUM TERM AND SPOT PRICING7 120 Spot Price Term Price 100 ● Offtake strategy focused on securing long term linked prices with sales to be predominantly Term price has increased steadily For personal use only since
Slide 20: Annexures
For personal use only ANNEXURES
Slide 21: Annexure 1: Kayelekera highlights
Annexure 1: Kayelekera highlights Kayelekera is a world-class uranium project with compelling economics For personal use only KEY HIGHLIGHTS1,2 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
Slide 22: Annexure 2: Kayelekera initial capital cost
Annexure 2: Kayelekera initial capital cost Accelerated Production Plan reduces initial restart capital from US$88m to US$50m ● Key updates to the initial capital schedule: DFS CAPITAL COST INITIAL RESTART DEFERRED CAPITAL For personal use only ESTIMATES CAPEX5 (YEARS 1 – 2)5 − Grid connection and s
Slide 23: Annexure 3: Kayelekera Life of Mine metrics
Annexure 3: Kayelekera Life of Mine metrics PRODUCTION AND OPERATING COSTS1 For personal use only ● No change to LOM production of 19.3Mlbs over 10 years2 OPERATIONAL METRICS1,2,3 ● Steady-state C1 cash cost of US$34.5/lb compared to US$29.1/lb in the DFS2,3,4, the primary drivers of the increase ar
Slide 24: Annexure 4: Consolidated uranium Mineral Resources & Ore Reserves
Annexure 4: Consolidated uranium Mineral Resources & Ore Reserves 1. See ASX announcements dated 15 February 2022 and 9 June 2022 for information on the Kayelekera and Livingstonia Mineral Resource Estimates. Lotus confirms that it is not aware of any new information or data that materially affects
Slide 25: Contact Us
For personal use only Contact Us Greg Bittar For further information visit: www.lotusresources.com.au Managing Director www.lotusresources.com.au LOT:ASX | LTSRF:OTCQX
Lotus Resources — Macquarie Australia Conference 2025 on 6ix