Boss Energy (ASX: BOE) announced strong operational and financial results, driven by increased activity at its Honeymoon uranium project in South Australia. Uranium oxide production grew significantly, with record output achieved during February. Managing Director Duncan Craib highlighted the company’s success in generating free cash flow within a year of starting production, attributing it to the team’s dedication and the project’s inherent strength amid tightening uranium markets. The company has no debt and $229.2 million liquid assets.
Operational advancements include bringing well-field B3 online and commencing operations from NIMCIX Column 3. While commissioning challenges with the kiln and bag-house caused unplanned downtime, Boss Energy remains confident in achieving its production guidance target of 850,000lb uranium oxide for financial year 2025. The company focuses on increasing flow rate, changing the precipitation circuit operating regime, and progressing onsite construction, particularly for NIMCIX Columns 4 to 6. Exploration efforts continue with high-priority uranium targets identified, including the Sara Dam prospect near Marmota’s Saffron prospect, and further exploration planned at Cummins Dam and Lake Constance.
