Boss Energy Sees Share Price Surge Following Stake Increase in Laramide Resources

Thu 13 Mar 25, 02:44 AM | Team Kalkine

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Highlights

Boss Energy boosts stake in Laramide Resources, increasing ownership to 18.4%.

The acquisition involves 23.5 million shares of Laramide at 60 Canadian cents each, totaling AU$15.5 million.

Shares of Boss Energy rise 4.4% as a result of the announcement, while Laramide's stock jumps 14.8%.

Boss Energy Ltd (ASX:BOE), a prominent player in the Australian uranium sector, saw its stock surge by 4.4% on Thursday morning, following the announcement that the company is increasing its stake in Laramide Resources Ltd (ASX:LAM). The stock, which closed at AU$2.17 on Wednesday, was trading at AU$2.27 per share in early Thursday trading.

The company revealed that it would acquire an additional 23.5 million shares, equating to approximately 9% of Laramide's total issued shares, at a price of 60 Canadian cents (around 66 Australian cents) per share. This investment will elevate Boss Energy's total holding in Laramide to 18.4%, or 48.1 million shares. Laramide Resources owns the Westmoreland uranium project in Queensland, Australia, and the Churchrock-Crownpoint uranium project in New Mexico, USA.

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