ok so here is the 1st page of 431 July 2024 ABN: 38 119 992...

ok so here is the 1st page of 4

31 July 2024 ABN: 38 119 992 175
ASX Announcement
Lotus agrees 10-year stability period and fixes fiscal regime with Mine Development Agreement
pleased to announce it has signed a Mine Development Agreement (MDA or Agreement) with the
Government of Malawi (GoM), for its Kayelekera uranium mine, a major milestone in its redevelopment.
This Agreement ensures the mine will operate under a stable fiscal regime and provides the necessary confidence to investors.
HIGHLIGHTS
• MDA secures a stable fiscal regime for the operations
o MDA guarantees a Stability Period of 10 years during which the Project will not be
subject to any detrimental changes to the fiscal regime.

o Key tax terms are aligned with the Restart DFS assumptions, including royalty rate of
5% and corporate tax rate of 30%.
o Relief provided on Resource Rental Tax and Withholding Tax, specifically as it applies
to dividends to non-residents.
o Exemptions for import and export duties, excise and VAT on capital goods and
specified consumables directly related to mine production
o MDA includes internationally recognised principles relating to legal protection on
security of tenure, dispute resolution and expropriation
• MDA demonstrates the commitment by the GoM to develop the local mining industry, a key
pillar of Malawi 2063, their new economic vision.
o Rio Tinto’s increased shareholding in Sovereign Metals, which holds another key
mining project in Malawi, also indicates the increased attractiveness of Malawi as a
mining destination.

• Lotus has a cash balance of $34.1M (unaudited), exclusive of restricted cash of $15.0m, at
30 June 2024
Lotus Managing Director Keith Bowes commented: “We are extremely pleased to have finalised
our MDA with the Malawian Government. I would like to thank all parties involved in these negotiations,
especially the Presidential Delivery Unit who were instrumental in finalising the agreement.

The relevant ministries including mining, finance and justice have all been very supportive in our
negotiations as we have gone through multiple iterations of the MDA.
It has been a timely conclusion to these negotiations as we have seen increased demand for the
Kayelekera product from a number of utilities which coincides with the current perceived shortages
and strong prices in the market. With the completion of the MDA, we can now move ahead quickly
with concluding some of our offtake discussions.”

So may I say GLALTH Mal... (and of course todays SP price interesting ?).