Boss Resources appoints experienced Chairman to the Board
Mr Hohnen was the founder of Kalahari Resources Plc (ASX:KAH) and was involved in the discovery of the Husab uranium resource in Namibia, which was acquired by China Nuclear Power Group for US$2.2 billion.
Boss’ Resources new Chairman has continued his connection with the Husab Uranium Project as a Board member of Swakop Uranium, the owner of the Husab uranium project.
Husab is the world’s second largest uranium operation in terms of production with construction of a 15mlbs uranium per annum mine and treatment plant near completion.
Mr Hohnen has been involved in the mineral business since the 1970s and holds directorships in public and private sector companies.
Having founded Kalahari in 2005, Mr Hohnen and his team, listed the company on the AIM in 2006 with a market capitalisation of Stg£15 million.
By 2011, KAH was valued at Stg£750 million (note valuations are subject to change and fluctuations), before becoming the subject of the $2.2 billion acquisition in 2012.
In joining Boss Resources, Mr Hohnen will invest $500,000 via a share subscription at 3C per share for a total of 16,666,667 shares.
Subject to shareholder approval Mr Hohnen will also receive up to 18.5 million performance rights.
A management structure will take place as Mr Hohnen transitions into the role.
About Boss Resources
BOE became an advanced uranium developer after completing the acquisition of the Honeymoon uranium mine in South Australia in September 2015.
The mineral resources identified can be broadly split into West (Gould’s Dam) and East (Honeymoon).
Since BOE took over the mine, it has reported a total increase in resource size of 330%.
The western section of the project, Gould’s Dam has reported a 90% increase in resource size.