Boss Energy has announced its recent share purchase plan (SPP) closed significantly oversubscribed at $29.6 million, smashing its $10 million target.
The SPP complements the uranium miner’s recently announced single tranche placement to institutional, professional and sophisticated investors that raised $205 million at an issue price of $3.95 per share.
While the SPP attracted nearly three times its target, the Boss board has accepted $15 million through the initiative, with the additional funds to be allocated to growth opportunities for the company.
“The Boss team has been humbled by the extraordinary show of shareholder support for our share purchase plan and we sincerely thank all those who participated,” Boss managing director Duncan Craib said.
“The number and value of applications is a strong endorsement of our growth strategy for Boss becoming a near-term multi-mine uranium producer in the Tier-1 jurisdictions of Australia and the US.
“We move into 2024 in an exceptional position, with a robust balance sheet and both Honeymoon and Alta Mesa uranium projects continuing on time and on budget for the first half of 2024 production, with significant potential to grow their existing resources.”
Boss marked several significant achievements last year, with the commencement of operations at its Honeymoon uranium mine in South Australia, and the ramping up of drilling at the nearby Jason’s satellite deposit.
The miner is also scoping out potential new sites in the uranium province of SA following its successful application to explore four new tenements from the Kinloch project in the northern Murray Basin.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.