Lotus Resources announced a $30 million placement to expedite uranium production restart at the Kayelekera mine in Malawi and advance development at the Letlhakane Project in Botswana.

The placement involves issuing 100 million new shares at 30 cents each.

With a $20 million contribution from Paradice Investment Management, the move aims to accelerate Lotus's uranium projects amid a strengthening market.

The funds will speed up Kayelekera's restart by the end of 2025 and support crucial development phases at Letlhakane.