Energy company Basin reorients its strategy towards significant uranium resources situated in Queensland's expansive territories.
Northwest Queensland is garnering significant attention from both local and international investors, with the region attracting interest in the uranium sector and emerging as a prime opportunity for critical minerals.
The area is benefiting from substantial government initiatives at both the federal and state levels, aimed at fostering growth in the critical minerals sector. These initiatives are designed to capitalise on the region's vast potential.
Recent M&A activities in the uranium deposits of Northwest Queensland have involved companies such as Deep Yellow Limited and Toro Energy. Simultaneously, firms like Deep Yellow, Toro Energy, and Energy Metals are actively engaged in critical minerals exploration in the region.
One of the key players in the region is Laramide Resources, which is currently working on the West Moreland deposit in Northwest Queensland. Another company making waves is Basin Energy, which has recently acquired a significant landholding in the Mount Isa region of Northwest Queensland.
Basin Energy's acquisition propels them into Australia's uranium and rare earths exploration landscape. The exact size and extent of the landholding acquired by Basin Energy are yet to be disclosed, but the company is preparing to begin exploration work at the property.
Basin Energy's managing director, Pete Moorhouse, has emphasised the potential of Northwest Queensland, stating, "From the jurisdiction perspective, Northwest Queensland is a real prime opportunity for critical minerals." He further adds that the drilling in the region is relatively cheap due to its district-scale opportunities, offering a cost-effective, district-scale opportunity for investors.
The Queensland opportunity offers direct exposure for district-scale wins from first-pass drilling with reverse circulation and aircore. This means that investors stand to benefit significantly from the exploration work in the region.
Boss Energy has also recently invested 20% in the uranium space, further highlighting the growing interest in the sector. The spotlight is being brought back into uranium in Queensland, with Pete Moorhouse, Basin Energy's managing director, mentioning the West Moreland deposit and Boss Energy's investment in the context of the uranium focus in Queensland.
Basin Energy (ASX:BSN) has completed a AU$1.25 million capital raise, and the interview with Basin Energy's managing director, Pete Moorhouse, is available to watch above. The company's strategic moves and investments underscore the burgeoning potential of Northwest Queensland as a hub for critical minerals and uranium exploration.
