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Prospectivity at Livingstonia is outstanding and we believe the area has potential to become a satellite deposit for the Lotus in the future.
Assuming exploration success, the Company will undertake ore sorting test work on the Livingstonia material in 2022.
"This provides certainty and confidence that Lotus has the full backing of the Government to continue our development of Kayelekera."
"Together with the findings of other technical studies, we are confident that a material reduction in operating costs can be achieved."
ASX-listed Lotus Resources has received binding commitments to raise $5 million for the restart of the Kayelekera uranium mine in Malawi.
ASX-listed Lotus Resources has reduced the care and maintenance operating cost guidance at its recently acquired Kayelekera uranium project in Malawi by 75%.
ASX-listed explorer Lotus Resources has defined near mine and Brownfield exploration targets of between 6 Mt to 22 Mt, containing between 7 Mlb to 14 Mlb of uranium oxide at a grade of 300 to 600 ppm of U3O8 at its recently acquired Kayelekera uranium project in Malawi.