Congratulations to Boss Energy Ltd (ASX: BOE) on acquiring a 30% interest in the Alta Mesa Project and completing a A$205m Placement.

Boss has entered into an agreement with enCore Energy Corp. (TSX.V: EU) pursuant to which Boss Energy will acquire a 30% stake in the Alta Mesa Project for US$60m cash. Alta Mesa is a high-grade uranium ISR project located in South Texas, which has historically produced ~4.6Mlb of uranium between 2005 and 2013. Alta Mesa is expected to recommence production in 1H 2024. In addition to the joint venture, Boss will establish a strategic relationship with enCore which will include, an exclusive Australian licence for enCore’s Prompt Fission Neutron technology, Boss making a US$10m equity investment into enCore and providing a 200klb physical uranium loan, and the development of future opportunities to collaborate on joint acquisitions.

Boss raised A$205m to fund the Transaction, associated re-start and exploration activities of Alta Mesa, and for exploration and expansion study on its Honeymoon Project in South Australia.

Sternship Advisers is pleased to have acted as financial adviser to Boss on the Transaction and Placement, alongside Aitken Mount Capital Partners.