Boss Resources Ltd. is raising A$8 million to progress a definitive feasibility study on its Honeymoon uranium property in South Australia, fund further exploration and for general working capital.
The company is undertaking a placement of approximately 200 million shares at 4 Australian cents apiece, with settlement anticipated March 29.
Boss Resources also said March 26 that it appointed Tribeca Investment Partners to arrange project finance facilities of up to US$65 million, to help fund the development and restart of operations at the Honeymoon project. The transaction is subject to due diligence.
The company outlined plans to consolidate its ownership of Honeymoon in late 2017, increasing its interest from 80% to 100%, after a pre-feasibility study earlier in the year estimated US$146 million in CapEx for the restart.