Lotus Resources (ASX:LOT) said that the restart of its Kayelekera uranium project in Malawi was on track for uranium production in the third quarter of 2025, according to a Thursday filing with the Australian bourse.
The company grew its on-site refurbishment and construction team to 200 local and expat personnel and it is recruiting key operations management personnel including a processing manager, mining engineer, and maintenance manager.
In addition, Lotus Resources signed a community development agreement to establish a community development fund representing at least 0.5% of annual gross sales revenue, the filing said.
The company said Hayden Bartrop was appointed chief financial officer but will continue as chief commercial officer.
The company's shares were up 2% in recent Thursday trade.
Price (AUD): $0.25, Change: $+0.0050, Percent Change: +2.04%
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