Basin Energy (ASX:BSN) has completed the purchase of a portfolio of projects prospective for uranium and green energy metals in Scandinavia.
On 31 October 2024, the company signed a binding agreement to buy the Virka, Björkberget, Rävaberget, Prästrun, and Håkantorp projects in Sweden, as well as the Puokio, Löttö, Temo, Eronlampi, and Palmottu projects in Finland.
Under the agreement, Basin acquired Normetco, which is the registered owner of the projects, for 18.47 million shares and 4.61 million options exercisable at $0.10 within three years.
The company also agreed to pay up to $2 million in two equal tranches after achieving certain milestones.
Managing Director Pete Moorhouse says the prospectivity of the portfolio of projects was identified by Basin as a largely overlooked region for modern exploration.
“Initial geochemical results from fieldwork completed in late 2024 are eagerly awaited,” he says.
Basin Energy is a green energy metals explorer and developer focused on its projects in Canada, Sweden, and Finland.
Write to Aaliyah Rogan at Mining.com.au
Images: Basin Energy
