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Highlights:
- Boss Energy (ASX:BOE) and Eclipse Metals (ASX:EPM) have entered an agreement worth up to $8 million for the Liverpool Uranium Project in the Northern Territory.
- Boss Energy gains an option to secure a 49% stake by 2026, with the potential to increase ownership to 90% through additional investment milestones.
- Eclipse Metals retains an opportunity to focus on critical minerals, while Boss Energy brings its technical expertise to accelerate uranium exploration.
Boss Energy (ASX:BOE) has signed an agreement with Eclipse Metals (ASX:EPM) to advance the Liverpool Uranium Project in the Northern Territory. The deal involves an initial $250,000 investment from Boss Energy over the next twelve months to support Eclipse Metals’ uranium exploration efforts. This period will also serve as an option window, allowing Boss Energy to assess the project’s potential before making further commitments.
The agreement is structured to progress in multiple stages. Boss Energy holds the option to secure a 49% stake in the Liverpool Project by March 2026 by committing $3 million. If further development is pursued, an additional $5 million investment before 2029 could increase Boss Energy’s stake to 80%. Upon completing these steps, Boss Energy will have the option to acquire another 10% from Eclipse Metals for a one-time payment of $50 million, bringing its total stake to 90%.
Boss Energy’s managing director, Duncan Craib, highlighted the strategic significance of this collaboration, emphasizing the company's advanced uranium exploration capabilities and systematic approach to project development. The company aims to apply its technical expertise to maximize the Liverpool Project’s potential while adhering to a structured investment framework.
Eclipse Metals retains flexibility in the partnership while leveraging Boss Energy’s experience as a uranium producer. Eclipse’s executive chairman, Carl Popal, emphasized that this alliance enhances shareholder value and enables the company to sharpen its focus on critical minerals. The deal positions Eclipse Metals to benefit from Boss Energy’s established industry presence, technical resources, and investment capabilities.
While Boss Energy holds the right to increase its stake significantly, it also has an exit clause that would require a $1.5 million payment if it chooses to withdraw. This provision ensures that Eclipse Metals retains financial backing while maintaining control over its broader exploration strategy.
The Liverpool Uranium Project is expected to benefit from this partnership as both companies align efforts to advance exploration and development. Boss Energy’s financial commitments and technical expertise could play a key role in unlocking the project’s long-term potential, while Eclipse Metals positions itself strategically within the critical minerals sector. The agreement underscores the growing interest in uranium exploration as global demand for nuclear energy continues to rise.
