Lotus Resources (ASX:LOT) share price tumbles 7% today but is still up 170% in a year

Lotus Resources Ltd (ASX: LOT) shares are tumbling today, down 6.9% in early afternoon trade after falling as much as 13% earlier in the day. But even with the partial bounce back of the Lotus share price, its falls are still significantly greater than the 2.7% loss seen on the wider All Ordinaries Index (ASX: XAO) at time of writing.

Today’s share price moves come following the release of the company’s quarterly activities report for the quarter ending 31 December.

What did Lotus Resources report this morning?

In an announcement to the ASX this morning, Lotus reported it had completed its restart scoping study, confirming the potential for its Kayelekera Project to support long-term uranium production.

The company indicated a…