Boss chalks up production target

Uranium producer Boss Energy was unable to stem the flow of losses across the market on Wednesday, despite positive news from its Honeymoon project in South Australia.

Duncan Craib-led Boss, which recently posted a net profit after tax of $44.59 million for the 2024 financial year, closed trade down 6 per cent to $2.55, on a tough day across the Australian Securities Exchange.

Boss told the market its maiden NIMCIX production column had reached its nameplate uranium production last month, with a total of 72,516 pounds of uranium oxide produced across July and August – after yielding its first drum on April 22.

Honeymoon’s second NIMCIX column has been constructed, with production earmarked for the end of the month.

A third will be production-ready during the December 2024 quarter, with an additional three columns due for commission next year, as Boss aims to reach Honeymoon’s annual nameplate capacity of 2.45 million pounds of uranium oxide.

Once is column is brought online, Boss is likely to benefit from not only an increase in production, but also reduction in the per pound cost of uranium production.

“Supplies of the pregnant leach solution, grades and extraction rates are meeting or exceeding our targets and overall uranium production rates are rising in line with the schedules in the feasibility study,” Mr Craib said.

The present uranium spot price is $US79.60 per pound.