Grant Davey, Director of Lotus Resources Ltd, Shows Increased Confidence in Uranium Strategy with Another Market Purchase
The company owns an 85% stake in the Kayelekera uranium project in Malawi which hosts a resource of 37.5 million pounds of U3O8.
Ltd () (OTCMKTS: LTSRF), Non-Executive Director, Grant Davey, continues to demonstrate confidence in the company’s uranium strategy with another market purchase.
On May 4, Davey acquired 200,000 shares with a value of $ 30,000 in an indirect interest, bringing the number of securities held in this interest to more than 15.652 million.
This follows his market purchase of 303,602 shares valued at $ 96,398 on May 3.
Trading on the OTCQB market
Last week, the company completed its secondary listing on the OTCQB market in the United States with the symbol LTSRF.
The secondary listing on the over-the-counter markets aims to improve the visibility and accessibility of the uranium development company to North American investors.
It will allow potential North American investors to trade and settle during US trading hours in US dollars.
Lotus owns an 85% stake in the Kayelekera uranium project in Malawi which hosts a resource of 37.5 million pounds of U3O8 and historically produced around 11 million pounds of uranium between 2009 and 2014.
The company completed a positive restart study which demonstrated that Kayelekera can support a viable long-term operation and has the potential to be one of the first uranium projects to resume production in the future.