Boss Energy (ASX: BOE) is advancing its Honeymoon uranium project in South Australia, leveraging its first-mover advantage in a strengthening uranium market. The company boasts $229 million in liquid assets, including $64 million in cash, and holds 1.21 million pounds of uranium. Boss Energy remains on track to produce 850,000 pounds of uranium at Honeymoon in FY2025. The project has achieved its first quarter of positive free cash flow, with a March quarter run rate approximating 1.2 million pounds annually.
Currently, Boss is ramping up NIMCIX column 3 at Honeymoon, with columns 1 and 2 already operating at full capacity. Furthermore, the company is progressing the completion of NIMCIX columns 4 and 6. Additional growth initiatives are underway, including ongoing Honeymoon drilling and procurement of long-lead items for planned activities at Wellfields. Boss Energy also recognizes exploration potential outside of Honeymoon as a key growth driver, conducting infill drilling at the Gould’s Dam and Jasons satellite deposits. Consultants are preparing a mineral resource update for these deposits, expected in Q4 FY2025. New exploration has identified a mineralized zone at the Cummins Dam prospect, with further drilling planned for Q3 FY2025.
