Boss Energy Limited (ASX:BOE) Increases Stake in Laramide Resources to 18.4%
Acquisition Details
Boss Energy Limited has agreed to acquire 23.5 million shares in Laramide Resources at C$0.60 per share, representing approximately 9% of Laramide’s issued shares. The total consideration of approximately A$15.5 million includes A$3.9 million in cash and A$11.7 million in Boss scrip through the issuance of around 5.2 million new shares.
Strategic Investment
This acquisition will increase Boss’ interest in Laramide to approximately 18.4% on an undiluted basis, equating to roughly 48.1 million Laramide shares. Laramide’s flagship asset, the Westmoreland Uranium Project in Queensland, features significant JORC Indicated and Inferred resources.
Executive Comments
Managing Director Duncan Craib stated, “This investment represents an attractive opportunity to secure exposure to the significant exploration and development upside at Westmoreland for a relatively small cost. While Queensland currently has a moratorium on uranium mining, we believe the state will enviably lift this. If the moratorium is overturned, Boss can apply its knowledge, experience and financial strength to the Westmoreland project. This would be of significant benefit to the people of Queensland and all stakeholders. Boss remains focussed on delivering a successful ramp up at our flagship Honeymoon Uranium Project in South Australia, which achieved commercial production in January 2025 and remains on track to meet FY25 production guidance of 850,000lbs U3O8.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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