Thomson Geer helps Boss Energy snap up 30% stake in Texas mine

The firm also assisted the ASX 200 company with a $215m capital raising

Thomson Geer helps Boss Energy snap up 30% stake in Texas mine

Thomson Geer has confirmed its role in assisting ASX 200 uranium developer Boss Energy Limited as it acquired a 30% stake in Texas-based uranium mine Alta Mesa for US$60m.

Boss Energy picked up the stake from Canadian-listed enCore Energy Corp via a master transaction agreement. The ASX lister initiated a $215m capital raising effort to fund the deal.

According to an ASX announcement by Boss Energy, a 30%/70% incorporated joint venture with enCore will be established through the acquisition. enCore will serve as initial manager of the joint venture. The strategic partnership will also see Boss Energy obtain an exclusive Australian license for enCore’s Prompt Fission Neutron exploration and production tool technology, as well as collaborating on its development.

In addition to funding the acquisition, the capital raised is set to advance Boss Energy’s Honeymoon uranium mine project in SA.

“With its flagship Honeymoon mine and the Alta Mesa mine in Texas both set to enter production in 1H 2024, Boss is perfectly positioned to capitalise on the rising tide in uranium markets. The Boss and enCore teams are a powerful combination which traverse the important tier-1 uranium jurisdictions of Australia and North America,” Thomson Geer lead partner Hedley Roost said.

Roost received support from associate Kajal Parmar. The Thomson Geer team tackled all aspects of the cross-border transaction and capital raising; the team negotiated the acquisition, equity investment, joint venture, strategic collaboration, and uranium loan agreements.

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