Commercial Production Declared at Honeymoon
- Ramp-Up Success: Honeymoon declared commercial production effective 1 January 2025, on track for FY25 production guidance of 850,000 lbs of U3O8.
- C1 Costs: Guidance for 2H FY25 set at AUD $37-41/lb (USD $23-25/lb).
- Operational Achievements:
- 137,084 lbs U3O8 drummed (53% increase from September quarter).
- 215,319 lbs IX production (96% increase).
- NIMCIX Column 3 commissioned, with Columns 1 and 2 at nameplate capacity.
Project Updates
Honeymoon Uranium Project, South Australia
- Construction and Expansion:
- NIMCIX Columns 4–6 to be commissioned by Q3 2025.
- Kiln 2 completed and operational, boosting production capacity.
- Exploration Progress:
- Infill drilling at Gould’s Dam and Jason’s deposits to support mine-life extensions.
- New prospects identified within 80 km of Honeymoon.
- Safety:
- TRIFR rose to 4.4 (up from 2.1 in the previous quarter), with focus on continuous safety improvements.
Alta Mesa Uranium Operation, Texas (30% Stake)
- Production Milestone:
- Boss received its first shipment of 35,181 lbs U3O8.
- First IX circuit operating at nameplate capacity, with further circuits coming online in 2025.
- Future Capacity:
- Full operational capacity expected by 2026 (1.5M lbs U3O8 annually, 450,000 lbs for Boss’ share).
Financial Highlights
- Strong Balance Sheet:
- $252M in liquid assets, no debt, and $7M growth during the quarter.
- Sales Performance:
- Sold 200,000 lbs U3O8 at an average realised price of USD $77.50/lb, generating $25.2M in revenue.
- Cost Efficiency:
- Honeymoon’s operational cash costs remain competitive, positioning it as a high-margin producer.
Outlook
Boss Energy’s strategic focus on expanding production capacity at Honeymoon and Alta Mesa positions the company to thrive in a strengthening uranium market. The combination of robust operations, exploration successes, and a debt-free balance sheet underscores its ability to capitalise on rising demand for nuclear energy.
