Basin eyes acquisitions for future growth

Basin Energy (ASX:BSN) is looking to support the transition to carbon neutrality through exploration and acquisitions in the uranium-rich tenure of the Athabasca region in Canada. 

Speaking to, Basin Managing Director Pete Moorhouse says the company has already begun putting its plans into action following the acquisition of extra ground through staking next to its Geikie Project earlier this year. 

Moorhouse tells this news service the company has its eyes peeled for any potentially prospective land that becomes available in the region. 

“So we recently picked up a little bit of extra ground through staking next to our Geikie Project. What we see is quite a prospective little pocket of ground there.

We actively review pretty much all the ground that comes available for staking in the Athabasca Basin, and we do have very rigorous criteria of what we go for. When we decide to go for something, we go for it.” 

When we decide to go for something, we go for it”

The MD notes acquisitions are a clear pathway for the company’s growth strategy, as outlined in its initial public offering (IPO) prospectus. 

“There was a snippet in the prospectus saying that we will look at other opportunities, and we certainly do within the uranium space, specifically, on a very strict basis of sensible jurisdiction [and] sensible credentials for similar plays to what we’re doing at the moment. There’re definitely options on the table there.” 

Moorhouse notes that the company is not looking to be consolidated by other players operating within the Athabasca region, priding itself on being a junior explorer in the uranium space. 

However, the MD adds the company is open to the idea of potential consolidation in the future. 

“We’re not setting ourselves up at the moment for a consolidation with any other players there. We are a small, tight knit community in the uranium exploration space. There’s not that many of us who have done this for a long time, especially with the Australian influence.

But let’s see how we go over the coming years.”

Basin Energy is an ASX-listed junior uranium explorer targeting unconformity-type uranium deposits in the ‘highest-grade’ uranium districts globally. 

The company’s Geikie project lies in proximity to recent ‘high-grade’, shallow uranium discoveries and makes up one of its three ‘highly prospective’ projects positioned in the southeast corner and margins of the ‘world-renowned’ Athabasca Basin. 

Basin Energy had $5.2 million cash at hand as of 30 June 2023, according to its latest quarterly report.

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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.