Lotus Resources (ASX:LOT) signed a term sheet for the sale of triuranium octoxide to a unit of US-based Public Sector Enterprise Group, PSEG Nuclear, according to a Wednesday Australian bourse filing.
The arrangement covers a total of 800,000 pounds of uranium from 2026 to 2029, at an escalated fixed price.
The fixed-price escalation percentage per annum applies from the time of delivery, the filing said.
The term sheet is non-binding and conditional on the execution of a full-form document, which is expected to be finalized in the March quarter.
Lotus shares rose nearly 6% in early trading on Wednesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.