Boss Energy Increases Stake in Queensland Uranium Developer
Boss Energy Limited (ASX: BOE) is increasing its stake in Laramide Resources (ASX: LAM) to 18.4% on an undiluted basis. The company has acquired an additional 23.5 million shares at C$0.60 ($0.66) per share, strengthening its position in Laramide’s flagship Westmoreland Uranium Project in Queensland.
The transaction, valued at approximately $15.5 million, includes $3.9 million in cash and $11.7 million in scrip. Boss will issue approximately 5.2 million fully paid ordinary shares. The deal is expected to be finalised within five business days.
Figure 1: Boss Energy Ltd is increasing it’s stake in Laramide Resources
Despite the increased stake, Boss Energy has confirmed it has no plans to take over Laramide. The company stated that it remains focused on its existing uranium projects.
Westmoreland Uranium Project Holds Strong Resource Potential
Laramide’s Westmoreland Project is one of Australia’s largest undeveloped uranium assets. The project contains an Indicated Resource of 27.8 million tonnes at 770 parts per million (ppm) triuranium octoxide (U₃O₈), translating to 48.1 million pounds of uranium.
Figure 2: WestmoreLand Project in Australia
The Inferred Resource is 11.8 million tonnes at 680 ppm U₃O₈, containing 17.7 million pounds of uranium. The project has exploration and development potential, which Boss Energy aims to leverage once regulatory conditions allow.
Laramide also owns the Churchrock-Crownpoint uranium project in New Mexico, adding further growth opportunities.
No Immediate Takeover Plans
Boss Energy’s Managing Director, Duncan Craib, reiterated that the company has no plans to acquire full control of Laramide.
“This investment represents an attractive opportunity to secure exposure to the significant exploration and development upside at Westmoreland for a relatively small cost,” Craib said.
He emphasised that Boss Energy will continue focusing on its flagship operations.
“Boss remains focused on delivering a successful ramp-up at our Honeymoon Uranium Project in South Australia, which achieved commercial production in January 2025 and remains on track to meet FY25 production guidance of 850,000 pounds of U₃O₈.”
Queensland Uranium Moratorium Remains a Key Factor
Queensland currently enforces a moratorium on uranium mining. However, Boss Energy believes this restriction will eventually be lifted.
“If the moratorium is overturned, Boss can apply its knowledge, experience, and financial strength to the Westmoreland project,” Craib stated.
“This would be of significant benefit to the people of Queensland and all stakeholders.”
Global Uranium Demand Continues to Grow
The uranium market is experiencing increased demand as nuclear energy gains traction. The World Nuclear Association projects a 28% rise in global uranium demand by 2030.
Major economies, including the United States, China, and Europe, are expanding their nuclear energy programs. This growth is driving uranium prices higher and making strategic investments in the sector more attractive.
Boss Expands Portfolio with Alligator River Deal
In addition to its increased stake in Laramide, Boss Energy has entered into an agreement to earn up to a 90% interest in the Liverpool project in the Northern Territory’s Alligator River uranium field.
Under the agreement:
- It can earn an initial 49% interest by spending $3 million within three years.
- The company can acquire an additional 31% interest (bringing its total to 80%) by investing another $5 million within the next four years.
- It will assume operational control during the earn-in stage and must commit at least $1.5 million to exploration before it can withdraw.
Boss Energy Strengthens Position in the Uranium Market
This Energy continues to expand its uranium portfolio, positioning itself as a key player in the sector. With strategic investments in Queensland and the Northern Territory, the company is preparing for potential regulatory changes and increasing global demand.
This Energy remains committed to its production goals at the Honeymoon Project while securing future growth opportunities in uranium exploration and development.
