40c and beyond, page-7

I wouldn't be surprised if some are hopeful for the new DYL/VMY entity to buy out LOT. I'm mixed but leaning towards doubtful.

Why it's likely: JB built Kayelekera so would be perfect for running it now, project is a single mature and developed deposit rather than a splatter of exploration garbage (JB's stated preference from Crux interview last year)

Neutral: Malawi provides some jurisdictional spread of risk as the project is not just a contiguous plot of land with DYL, but it's on the same continent as Namibia and not very far away compared to grabbing a North American or even northern African asset

Why it's unlikely: JB's stated preference is for simple jurisdictions as per Crux interview last year, he HATED setting up Kayelekera - but maybe as it is already built & the "novel jurisdiction" pain is theoretically over, this is mitigated somewhat. Also LOT market cap today is not too far away from double what VMY was valued at pre-merger, so maybe it's a bit too big to swallow if JB is hoping to actually do any amount of cash-based acquisition

I'm pretty neutral about the whole idea. I'm long uranium, not married to any specific company, although obviously Lotus performance so far has been among the best on the ASX so anybody overweight here is soundly beating my performance