The transaction will create a 30%/70% incorporated joint venture with enCore as the initial manager, while establishing a strategic relationship between Boss Energy and enCore. With two ISR assets expected to come into operation in 1H 2024 in tier one jurisdictions, no punitive legacy off-take agreements, no gearing and our strategic uranium inventory, Boss Energy provides a unique uranium production exposure for investors.” “The outlook for the global uranium market remains strong. Mr Craib said the local Honeymoon project is progressing on-time and on-budget and, with the addition of the Alta Mesa Project, that Boss is set to become a multi-mine uranium producer in 1H 2024. “As a minority interest with a highly credentialed operator like enCore, the acquisition allows us to learn and grow in the US whilst still maintaining focus on the continued ramp-up at the Honeymoon project.” Honeymoon on the horizon The US is determined to become more self-sufficient in uranium and Alta Mesa will play a role in that process.” “The deal provides Boss Energy an initial low-risk foothold in the pivotal US uranium industry. It is a project that we have always wanted to be involved in,” he said. “Given the location, grade, scale, growth potential and historic production, the Alta Mesa project is one of the best ISR projects globally with a near-term pathway to production.

Significant strategic acquisitionīoss Energy’s managing director Duncan Craib said the strategic acquisition has the company well-placed to be a global uranium producer of some significance. Proceeds from the placement will be used to fund the transaction, an Alta Mesa project restart, exploration activities and working capital, along with enCore equity investment and spend on prompt fission neutron technology as well as production and resource growth initiatives for the Honeymoon project. To help fund the deal, Boss is raising $205 million via a single tranche share placement and up to a further $10 million via a share purchase plan SPP. On target to commence imminent maiden uranium production at the Honeymoon mine in South Australia, Boss Energy (ASX: BOE) has added another string to its bow with the signing of an agreement to acquire an interest in the rich Alta Mesa in-situ recovery (ISR) project in South Texas.īoss will pay approximately $91.3 million in cash to enCore Energy (TSX-V: EU) and its wholly-owned subsidiary enCore Energy US to acquire a 30% stake in the high-grade uranium ISR mine.

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