LOT Chart, page-371

The recent offtake and loan facility announcements on top of the in-built Malawi government goodwill for Kayelekera restart has substantially de-risked LOT over the last number of weeks imo. Analyst notes with 70c price targets further the case that recent announcements have been objectively positive for the company's outlook.

The U price doesn't really have anywhere to go but up across the next year or two with new issues for (especially Western) utilities locking up supply appearing every new month. There is a lot of cash on the sidelines and an apparently-increasing interest in the Uranium thesis. JP Morgan Chase recently adding 20 million units of LOT is a close-to-home example of piqued interest at all levels.

Put simply, if it goes back to the teens, i'm a buyer. Even factoring in the likely delays and potential cost blowouts for the mine restart (that just about all such major projects seem to suffer), the teens would appear to be strong value if we see the SP move there. I'd happily put my money into LOT at such a price than a whole lot of other places right now.