Lotus Resources Limited · ASX:LOT
Lotus Resources — Investor Presentation (March 2025)
28 slides from Lotus Resources's investor presentation, Mar 19, 2025
Slide 1: The Next Global Uranium Producer
For personal use only THE NEXT GLOBAL URANIUM PRODUCER March 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: Fully funded – the next global uranium producer
Fully funded – the next global uranium producer For personal use only Large global Mineral Resource of 165Mlb U3O8 comprising the restart-ready Kayelekera and the large-scale Letlhakane1, well positioned for a long-term structural supply deficit Strategic window to be the only significant new market
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) 2,363m ● Low initial restart capex of US$50m; initial
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 ● Mining engineer, former CEO
Slide 7: 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 DECEMBER 2024 15 9 20 39 19 Overlaps with ex
Slide 8: 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 9: Kayelekera, Malawi
For personal use only KAYELEKERA, MALAWI
Slide 10: 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 ✓ DFS and FEED Development & MDA FEED ✓ Accelerated Restart Strategy Funding Fully Funded Restart ✓ A$132M Placement and SPP to fund restart Init
Slide 11: 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 12: Finalising key requirements for Kayelekera restart
Finalising key requirements for Kayelekera restart UPDATING KAYELEKERA’S ENVIRONMENTAL AND SOCIAL IMPACT ASSESSMENT (ESIA) ESIA KEY MILESTONES For personal use only • Malawi Environmental Protection Authority (MEPA) and Lotus agreed the Terms of Reference for Date Action / Milestone updating the Kay
Slide 13: Kayelekera near-mine & regional exploration potential
Kayelekera near-mine & regional exploration potential NEAR MINE • Potential for additional uranium mineralisation within Karoo For personal use only Sandstone beds at the Kayelekera mining lease (ML152) ● Surface anomalies identified by survey, yet to be drill tested − Drillhole LRC033 intersected 2
Slide 14: Letlhakane Overview
For personal use only LETLHAKANE OVERVIEW
Slide 15: 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 16: Letlhakane can support large scale U3O8 annual production
Letlhakane can support large scale U3O8 annual production SCOPING STUDY OUTCOMES • Updated Scoping Study, based on December 2024 MRE1 For personal use only • Key costs and value drivers to position Letlhakane for further development work – metallurgical and mining optimisation studies leading into a
Slide 17: Letlhakane Re-rating Opportunity
Letlhakane Re-rating Opportunity AFRICAN URANIUM PROJECTS2 Tumas3 Etango4 Lotus plans to rapidly unlock Letlhakane’s value Project Owner DYL BMN Project parameters For personal use only Country Namibia Namibia COMPARABLE DEVELOPMENT PROJECTS HOLD SIGNIFICANT VALUE Fraser Institute Ranking5 33 33 Res
Slide 18: Uranium Market Overview
For personal use only URANIUM MARKET OVERVIEW
Slide 19: Nuclear is essential to the clean energy transition
Nuclear is essential to the clean energy transition – meets all the criteria NUCLEAR PROVIDES A DIFFERENTIATED VALUE PROPOSITION2 ● Clean, reliable and competitive baseload power source, on a small land footprint For personal use only ● Currently generates 9% of global electricity; but circa 30% of
Slide 20: Governments globally are backing nuclear power generation
Governments globally are backing nuclear power generation 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 signed up to
Slide 21: 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 ● The clean energy transition, with 31 countries pledging to triple nuclear generation by 2050 Letlhakane a longer term, multi d
Slide 22: Annexures
For personal use only ANNEXURES
Slide 23: 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 24: 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 25: 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 26: 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 27: Annexure 5: Detailed Peer Data
Annexure 5: Detailed Peer Data Company Deep Yellow Bannerman Resources ASX Code DYL BMN For personal use only Project Tumas Etango Jurisdiction of Project Namibia Namibia Study Stage of Project Definitive Feasibility Study Definitive Feasibility Study Source of Project Study Information ASX Announce
Slide 28: 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