Boss Energy (ASX:BOE) has received full repayment of US$200,000 ($308,883) in accrued interest from enCore Energy US Corp (TSX-V:EU) as part of a total loan package valued at US$10.6 million.
Under the original agreement, Boss lent enCore 200,000 pounds of uranium. This was to be repaid to Boss in kind or cash at Boss’ election based on the prevailing spot price at the time the loan was made.
Since then, enCore has repaid US$11.9 million in cash.
Boss, which has a market capitalisation of $732.34 million, says the purpose of extending the loan agreement was to provide working capital support for enCore.
The extension agreement required the loan to be repaid on or before 27 December 2025 or if enCore completed an equity raise of at least US$23.5 million.
Interest on drawn funds increased from 9% per year to 10% per year.
enCore and Boss remain engaged in their joint venture with the Alta Mesa Uranium Project in Texas, whereby enCore is the operation and 70%-owner, while Boss holds the remaining 30% interest.
Boss Energy is a uranium-focused producer and explorer with assets in Australia and the US.
enCore Energy is an American clean energy company focused on providing reliable and affordable fuel for nuclear energy.
Write to Aaliyah Rogan at Mining.com.au
Images: Boss Energy
