Lotus Resources begins trading on OTCQB market in the US

Lotus Resources Ltd (ASX:LOT) (OTCMKTS:LTSRF) has completed its secondary listing on the OTCQB market in the United States with the ticker LTSRF and trading began last night.

The secondary listing on the OTC Markets is aimed at enhancing the visibility and accessibility of the uranium development company to North American investors.

It will allow potential North American investors to both trade and settle during US trading hours in US dollars.

Established trading platform

Operated by OTC Markets Group in New York, the OTC is an established trading platform providing live-market trading in companies that hold primary listings in other markets.

Trading of Lotus shares on the OTC imposes no additional compliance or regulatory standards over and above the Company’s existing compliance requirements as an Australian incorporated entity listed on the Australian Securities Exchange.

OTC trading is non-dilutive to existing Lotus shareholders, as no new shares are being issued to enable trading on the OTC.

Kayelekera project

Lotus owns an 85% interest in the Kayelekera Uranium Project in Malawi that 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 has 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 recommence production in the future.

North American marketing

Lotus Resources has already increased its marketing effort towards North America, with attendance at multiple upcoming virtual conferences, as well as the hosting of numerous webinars and one-on-one presentations.

Upcoming events include:

• North American Investor Webinar – May 3, 2021, https://www.redcloudfs.com/rcwebinar-lot/
• OTC Markets – Metals and Mining Conference – May 6, 2021, https://www.virtualinvestorconferences.com/events/event-details/metals-miningvirtual-investor-conference/
• Uranium Conference: Fuelling the Path towards electrification – May 13, https://www.redcloudfs.com/uraniumconference2021/

The company has a market capitalisation of approximately A$114 million and shares on the ASX today have been as much as 9% higher to A$0.13.

Story by ProactiveInvestors