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Highlights
- Boss Energy (ASX:BOE) increases its stake in Laramide Resources (ASX:LAM) to 18.4%.
- The investment includes a mix of cash and equity, totaling A$15.5 million.
- Laramide’s Westmoreland Uranium Project presents long-term potential despite current mining restrictions in Queensland.
Boss Energy (ASX:BOE) has reinforced its commitment to the uranium sector by increasing its stake in Laramide Resources (ASX:LAM). The company has agreed to acquire an additional 23.5 million shares at C$0.60 per share, which represents approximately 9% of Laramide’s total issued shares. With this latest transaction, Boss Energy now holds approximately 18.4% of Laramide on an undiluted basis, bringing its total shareholding to around 48.1 million shares.
The investment, valued at approximately A$15.5 million, is structured through a combination of A$3.9 million in cash and A$11.7 million in Boss Energy equity, equating to the issuance of around 5.2 million new shares.
Strategic Interest in Westmoreland Uranium Project
Laramide Resources (ASX:LAM) owns the Westmoreland Uranium Project in Queensland, a site known for its significant JORC Indicated and Inferred resources. While uranium mining in Queensland remains under a moratorium, Boss Energy sees potential in the region’s long-term prospects.
Boss Energy’s Managing Director, Duncan Craib, emphasized that this investment secures exposure to Westmoreland’s future exploration and development upside at a relatively low cost. He also highlighted the possibility of the Queensland government lifting the uranium mining moratorium, which could unlock new opportunities. Should regulations change, Boss Energy intends to leverage its industry expertise and financial strength to support the project’s advancement.
Continued Focus on Uranium Production
Beyond this strategic investment, Boss Energy remains focused on its primary asset—the Honeymoon Uranium Project in South Australia. The project achieved commercial production in January 2025 and is on track to meet its fiscal year 2025 production guidance of 850,000 pounds of U3O8.
This latest move further solidifies Boss Energy’s positioning in the uranium market while aligning with its long-term growth strategy. With an increasing stake in Laramide Resources and a successful production ramp-up at Honeymoon, the company continues to strengthen its presence in the sector.