More

    Warning: Illegal string offset 'sidebar' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 498

    Warning: Illegal string offset 'home' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 498

    Warning: Illegal string offset 'home' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 500

    Warning: Illegal string offset 'home' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 504

    Warning: Illegal string offset 'sidebar' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 516

    Warning: Illegal string offset 'home' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 516

    Warning: Illegal string offset 'home' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 518

    Boss Energy pockets $205 million for Alta Mesa purchase

    Boss Energy (ASX:BOE) has completed a $205 million single-tranche placement to help fund the 30% purchase of enCore Energy’s Alta Mesa Uranium Project in South Texas, US.

    The proceeds will be put towards purchase of enCore’s ownership stake in Alta Mesa for US$60 million, alongside a US$10 million investment from Boss into enCore, which is expected to be completed in February 2024.

    Boss Energy, which has a market capitalisation of $1.52 billion, will also put the proceeds towards funding the Alta Mesa project restart, exploration activities, and general working capital.

    Under the placement, Boss issued 51.9 million new shares at $3.95 per share.

    Macquarie Capital, Bell Potter Securities, and Canaccord Genuity acted as joint lead managers to the placement.

    Sternship Advisors and Aitken Mount Capital Partners acted as financial advisors, while Thomson Geer acted as legal advisor to Boss in relation to the placement.

    Boss Energy Managing Director Duncan Craib says this is an ‘exciting’ time for the company as it moves to become a multi-mine in-situ recovery (ISR) uranium producer by the first half of next year.

    “The proceeds will be used to drive Boss Energy’s multi-pronged growth strategy, with significant exploration spend and work towards expanding production capacity at Honeymoon.”

    “The proceeds will be used to drive Boss Energy’s multi-pronged growth strategy”

    Following the placement, Boss is aiming to raise an additional $10 million via a share purchase plan (SPP) to eligible Australian and New Zealand shareholders.

    From 5:00pm WST on 5 December, eligible shareholders have the opportunity to apply for up to $30,000 worth of new shares at the same price of $3.95 per new share.

    Boss Energy is an ASX-listed uranium-focused company that is working towards becoming a uranium producer.

    Images: Boss Energy
    Aaliyah Rogan
    Aaliyah Rogan
    Recently relocated from a small town in New Zealand to Queensland Australia, Aaliyah Rogan is a fervent journalist who recently completed a Communications/Media degree at Otago University. Aaliyah hopes to excel as a journalist and become an inspiration to others.