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Highlights
- Boss Energy (ASX:BOE) secures earn-in rights of up to 90% in Liverpool uranium project.
- Multi-stage investment plan involves an $8 million commitment over seven years.
- Eclipse Metals (ASX:EPM) retains interest while focusing on critical mineral assets.
Boss Energy (ASX:BOE) is set to expand its uranium footprint with a strategic earn-in agreement for the Liverpool project, located in the highly prospective Alligator River uranium field in the Northern Territory. The agreement, established with Eclipse Group, which includes Eclipse Metals (ASX:EPM) and its subsidiary North Minerals, provides Boss Energy with the opportunity to secure up to a 90% stake in the project through staged investment.
The structured deal allows Boss Energy to initially earn a 49% interest by investing $3 million in exploration over a three-year period. A further 31% stake, bringing total ownership to 80%, can be acquired with an additional $5 million investment over the following four years. Upon completion of these stages, Boss Energy has the option to purchase an additional 10% interest for $50 million.
Exploration and Operational Control
During the earn-in period, Boss Energy will take operational control of the project and commit to a minimum exploration expenditure of $1.5 million before any potential withdrawal. The Liverpool project consists of five exploration licenses spanning approximately 1,229 square kilometers, identified as a prospective unconformity-type uranium mineralization zone. Historical exploration efforts in the region have uncovered high-grade uranium assays in rock chip samples, and numerous radiometric anomalies remain untested.
Boss Energy, known for its operations at the Honeymoon project in South Australia and its involvement in the Alta Mesa project in Texas, plans to leverage its technical expertise to systematically advance exploration at Liverpool.
Strategic Collaboration and Long-Term Growth
Once Boss Energy secures the initial 49% stake, an unincorporated joint venture will be established with Eclipse Group to oversee further development and exploration activities. Boss Energy’s managing director, Duncan Craib, emphasized the structured approach of the agreement, which allows for a systematic exploration process while maintaining flexibility at each stage.
Eclipse Metals’ executive chair, Carl Popal, highlighted the significance of this agreement as a pivotal milestone for the Liverpool project. He expressed confidence that Boss Energy’s involvement would accelerate exploration efforts, maximizing the project's potential. Additionally, Eclipse Metals aims to utilize this partnership to enhance shareholder value while directing more focus toward critical mineral opportunities.
This agreement marks another step in Boss Energy’s expansion strategy, reinforcing its position in the global uranium market and strengthening its resource portfolio in one of Australia’s most prospective uranium districts.
