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2026-11-06
◂ Monitor LOT ASX

Lotus Resources Limited

Ramping Producer · Uranium · MW · BW Rating locked: sign in to view v8.1 · lot-20261031t153936-full
Last 2026-11-06
A$0.18
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$98.5M
EV
A$86.9M
Cash
A$57.4M
Debt
A$45.8M
1 newer ASX announcement not yet reflected in this valuation

Narrative and provenance

Research & Sources

AI Analyst Report

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Chronological evidenceSource-document inventory9 documents
LOT ASX close 30 October 2026 (reference price for 31 October 2026 cutoff)Market Data · LowExtracted

Local eligible ASX close for LOT registered as the valuation reference price (close A$0.185 on 30 Oct 2026, volume 6,004,272, provider market data provider via the local price database).

Document ID
lot-20261030-asx-close-reference
Published UTC
2026-10-30T06:00:00Z
Projects
—
Commodities
—
Open original source ↗
Quarterly Activities and Cash Flow Report - September 2026 (incl. Appendix 5B)Operations · HighPartial

September 2026 quarter: 101.8klb produced, A$57.4M cash at 30 September 2026, post-quarter equity and convertible note raise, and Appendix 5B cash flows for the quarter.

Document ID
lot-20261029-quarterly-sep-2026
Published UTC
2026-10-28T21:47:40Z
Projects
kayelekera · letlhakane
Commodities
uranium
Open original source ↗
Lotus Resources 2026 Annual Report to ShareholdersResults · HighPartial

FY2026 annual report (year to 30 June 2026): Kayelekera restart and ramp-up, June 2026 resource and reserve statement, audited statements, Mercuria marketing and prepayment terms and post-year-end funding package.

Document ID
lot-20260928-annual-report-fy2026
Published UTC
2026-09-27T23:22:49Z
Projects
kayelekera · letlhakane
Commodities
uranium
Open original source ↗
Quarterly Activities and Cash Flow Reports - June 2026Operations · HighPartial

September 2026 quarter: 101.8klb produced, A$57.4M cash at 30 September 2026, post-quarter equity and convertible note raise, and Appendix 5B cash flows for the quarter.

Document ID
lot-20260730-quarterly-jun-2026
Published UTC
2026-07-30T06:55:15Z
Projects
kayelekera · letlhakane
Commodities
uranium
Open original source ↗
Investor Presentation - Operational and Balance Sheet Reset (23 July 2026)Presentation · HighPartial

Kayelekera steady-state target, contracted volume, resource and reserve summary, and the strategic funding package announced 23 July 2026.

Document ID
lot-20260723-investor-presentation-reset
Published UTC
2026-07-23T00:02:36Z
Projects
kayelekera
Commodities
uranium
Open original source ↗
Quarterly Activities and Cash Flow Reports - March 2026Operations · HighPartial

September 2026 quarter: 101.8klb produced, A$57.4M cash at 30 September 2026, post-quarter equity and convertible note raise, and Appendix 5B cash flows for the quarter.

Document ID
lot-20260430-quarterly-mar-2026
Published UTC
2026-04-29T23:12:26Z
Projects
kayelekera · letlhakane
Commodities
uranium
Open original source ↗
Half Year Financial Report - 31 December 2025Results · HighPartial

Half-year to 31 December 2025: cash, borrowings, equity and operating cash outflow, and the Kayelekera royalty arrangements.

Document ID
lot-20260306-half-year-report-dec-2025
Published UTC
2026-03-05T22:00:00Z
Projects
kayelekera
Commodities
uranium
Open original source ↗
Completion of Share Capital Consolidation (22 January 2026)Corporate Action · MediumPartial

Share consolidation completion; page 3 states Lotus owns 85% of Kayelekera and 100% of the Letlhakane Uranium Project in Botswana.

Document ID
lot-20260122-completion-share-consolidation
Published UTC
2026-01-22T08:08:04Z
Projects
letlhakane · kayelekera
Commodities
uranium
Open original source ↗
Updated Letlhakane Scoping Study (12 March 2025)Study · HighPartial

Letlhakane scoping study, selected case about US$65/lb: 10-year life, 2.9Mlb/yr average, US$465.4M initial capital. AACE Class 5 (+/-30%). Pages are image-only and were read visually.

Document ID
lot-20250312-letlhakane-scoping-study
Published UTC
2025-03-11T22:00:00Z
Projects
letlhakane
Commodities
uranium
Open original source ↗
Evidence facts37
ar26-cash-30jun26Cash and cash equivalents at 30 June 2026 (A$)

30185667 AUD

2026-06-30
ar26-npat-attrib-fy26Loss attributable to members of the parent FY2026 (A$)

-83518268 AUD

2026-06-30
ar26-ocf-fy26Net cash used in operating activities FY2026 (A$)

-114904036 AUD

2026-06-30
ar26-kay-prod-fy26Kayelekera uranium produced FY2026 (klb U3O8)

332.1 klb

2026-06-30
ar26-kay-resource-totalKayelekera total Mineral Resource 30 Jun 2026 (Mlb U3O8, 85% basis footnote)

44.9 Mlb

2026-06-30
ar26-kay-reserve-totalKayelekera total Ore Reserve 30 Jun 2026 (Mlb U3O8)

22.5 Mlb

2026-06-30
ar26-shares-report-dateFully paid ordinary shares at directors' report date

547045342 shares

2026-09-28
ar26-mercuria-termsMercuria marketing for up to 3.0Mlb U3O8 over 30 months with US$30M prepayment facility (binding commitment letter after year end)

US$30M prepayment; 3.0Mlb marketing text

2026-09-28
q3-cash-30sep26Cash at 30 September 2026 (A$, excl. US$10.0M restricted)

57.4 AUD M

2026-09-30
q3-kay-prod-sep26Kayelekera uranium produced September 2026 quarter (klb)

101.8 klb

2026-09-30
q3-kay-prod-jun26Kayelekera uranium produced June 2026 quarter (klb)

155.9 klb

2026-06-30
q3-5b-opcf-sep26Net cash from operating activities quarter (A$'000)

-45183 AUD'000

2026-09-30
q3-5b-invcf-sep26Net cash from investing activities quarter (A$'000)

-13594 AUD'000

2026-09-30
q3-5b-fincf-sep26Net cash from financing activities quarter (A$'000)

85071 AUD'000

2026-09-30
q3-5b-open-cashCash at beginning of quarter (A$'000)

30186 AUD'000

2026-06-30
q3-shares-sep26Ordinary fully paid shares on issue at 30 September 2026

547045342 shares

2026-09-30
pr26-ss-productionKayelekera steady-state production target (Mlb U3O8 p.a., first six years, excluding ramp-up)

2.4 Mlb/yr

2026-07-23
pr26-contractedContracted volume under fixed pricing to CY2029 (Mlb U3O8)

3.3 Mlb

2026-07-23
pr26-prepayInventory prepayment facility up to US$30M (conditional)

30 USD M

2026-07-23
hy25-cash-31dec25Cash and cash equivalents at 31 December 2025 (A$)

56163665 AUD

2025-12-31
hy25-borrowings-31dec25Borrowings at 31 December 2025 (A$)

3977807 AUD

2025-12-31
hy25-ocf-1h26Net cash used in operating activities, six months to 31 December 2025 (A$)

-33542064 AUD

2025-12-31
hy25-royaltiesKayelekera royalties: Malawi Government 5% of revenue; Paladin 3.5% capped at A$5M; Power Resources 0.75%

3 royalty agreements text

2025-12-31
st25-initial-capexInitial capital cost (US$M, Table 5 total)

465.4 USD M

2025-03-12
st25-avg-prodAverage annual U3O8 production (Mlb)

2.9 Mlb/yr

2025-03-12
st25-priceSelected case price (~US$65/lb U3O8)

65 USD/lb

2025-03-12
st25-preprod-summaryPre-production cost and inventory build (US$M, summary)

23.5 USD M

2025-03-12
st25-preprod-tablePre-production cost estimates total (US$M, Table 6)

23.8 USD M

2025-03-12
px-close-30oct26LOT closing price 30 Oct 2026 (A$ per share)

0.185 AUD

2026-10-30
cons26-letlhakane-interestLotus interest in Letlhakane Uranium Project

100 pct

2026-01-22
mar26-cash-31mar26Closing cash balance at 31 March 2026 (A$, unaudited, excl. US$10.0M restricted)

85 AUD M

2026-03-31
mar26-ocf-qNet cash from operating activities, March 2026 quarter (A$'000)

-37742 AUD'000

2026-03-31
mar26-prod-q-origKayelekera uranium produced March 2026 quarter, as first reported (klb; superseded by June 2026 restatement to 78.2klb)

78.31 klb

2026-03-31
s2-prod-dec25q-001Kayelekera uranium produced December 2025 quarter (klb, reconciled)

72.5 klb

2025-12-31
s2-prod-sep25q-001Kayelekera uranium produced September 2025 quarter (klb, reconciled)

25.5 klb

2025-09-30
s2-prod-jun26q-001Kayelekera uranium produced June 2026 quarter (klb)

155.9 klb

2026-06-30
s2-prod-mar26q-001Kayelekera uranium produced March 2026 quarter, restated (klb)

78.2 klb

2026-03-31
Conflicts requiring judgment4
  • convertible_note_counterparty

    Both documents name CVI Investments, Inc. as noteholder; the 29 Oct 2026 quarterly adds that CVI is managed by Heights Capital Management. Heights is the manager, not a second counterparty. Later document used.

  • convertible_note_expiry

    Annual report gives expiry 7 Sep 2031 and the 23 Jul 2026 investor presentation (annexure, p.57) gives an up-to-five-year term from the 9 Sep 2026 issue. The quarterly's 7 Sep 2029 is inconsistent with that term and is treated as an error.

  • letlhakane_preproduction_cost

    Study Table 6 itemises US$23.8M; the executive-summary figure of US$23.5M is a rounded summary. Table 6 is used.

  • kayelekera_resource_total

    The presentation's 46.3Mlb figure is the consolidated resource as at 30 June 2025 (annexure heading, p.56). The annual report's 44.9Mlb at 30 June 2026 is the later statement and is used.