Lotus Resources (LOT) Q4 2026 TU earnings summary

Executive summary

• Achieved strong safety performance with no Lost Time Injuries and TRIFR improving to 3.97; Kayelekera reached 2,282 consecutive LTI-free days.

• Mining and processing performance improved, with May delivering the highest output since restart; 155.9klb U3O8 produced in the quarter, nearly double the previous quarter.

• Production was paused on June 10 due to sulphuric acid supply issues and acid plant commissioning delays.

• Strategic funding package announced post-quarter: A$60.1M entitlement offer, A$35M convertible notes, and US$30M prepayment facility.

Financial highlights

• Operating cost at Kayelekera for the quarter was A$24.6M, down from A$36.2M in the previous quarter.

• Cash balance at 30 June 2026 was A$30.2M (unaudited), down from A$85.0M at 31 March 2026.

• Net cash outflows from operating activities were A$26.0M; investing outflows were A$20.3M, mainly for Kayelekera capital projects.

• Payments to directors totaled A$267k for the quarter.

Outlook and guidance

• Operations expected to resume in coming weeks after acid plant remediation and sulphuric acid supply restoration.

• First uranium shipment from Walvis Bay anticipated from September 2026, with converter credit expected October/November 2026.

• Updated Mineral Resource Estimate for Letlhakane expected in H2 CY2026.

• Fundraising package expected to provide sufficient liquidity for ongoing operations and ramp-up.