Lotus Resources (ASX:LOT) has completed a $76 million institutional placement, priced at $2.15 per share, to solidify its financial position as it nears steady-state production.
The capital raise saw significant demand from a mix of domestic and international institutional investors, boosting the company's pro-forma cash balance to approximately $145 million.
The funds are earmarked for critical infrastructure projects, including the completion of an acid plant and grid connection, as well as supporting the typical 5-6 month uranium working capital cycle.
Managing Director Greg Bittar noted that this strengthened liquidity runway provides "funding certainty" as the Kayelekera project progresses toward its first shipment, scheduled for Q2 2026.
In addition to the placement, Lotus plans to launch a $5 million share purchase plan for eligible shareholders at the same offer price.
Shares resumed trading on the ASX on Feb. 6, with the new placement shares slated for issuance on Feb. 12.
At the time of reporting, Lotus Resources’ share price was $2.08.