LOT.ASX: Response to ASX Aware Query

Response to ASX Aware Query

Stock	Lotus Resources Ltd (LOT.ASX)
Release Time	21 Jul 2026, 3:43 p.m.
Price Sensitive	Yes

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Lotus Resources Ltd Response to ASX Aware Query

Key Points

LOT considers certain information material to the price or value of its securities
Company's suspension from trading continues until a strategic funding package is finalized
Final assay and classification results for 124k lbs of U3O8 expected mid to late August 2026
Steady-state production expected in Q4 CY2026
Process Optimization Program expected to complete by end of September 2026

Full Summary

Lotus Resources Ltd has responded to an ASX Aware Query regarding the materiality of certain information. The company considers the extent of damage and rectification works to the Kayelekera acid plant, delays to production resulting in the inability to meet offtake obligations, and the need for external funding as material. The company's suspension from trading will continue until a strategic funding package is finalized. The company expects final assay and classification results for 124k lbs of U3O8 by mid to late August 2026. Steady-state production is expected in Q4 CY2026, and the Process Optimization Program is expected to complete by the end of September 2026.

Guidance

Steady-state production expected in Q4 CY2026, Process Optimization Program completion by end of September 2026

Outlook

Lotus Resources Ltd expects to achieve steady-state production in Q4 CY2026 and complete the Process Optimization Program by the end of September 2026, contingent on the successful execution of its strategic funding package.