- Uranium demand is increasing as existing reactors scheduled for shutdown get a reprieve.
- The life cycles of existing reactors are being extended.
- Nuclear energy is gaining acceptance as a global source of clean energy.
Like uranium miners the world over, Boss Energy owned a historically producing uranium mine – the Honeymoon Uranium Project – that had been taken out of operation by its previous owner – Uranium One – in 2013 following the Fukushima nuclear disaster, which appeared to doom the future prospects for nuclear energy.
Boss Energy acquired the Honeymoon Uranium Project in 2015. With an enhanced feasibility study in place, the company is maximising the use of existing infrastructure in and around the project, with plans to recommence production by Q4 of FY 2024.
Year to date, the share price has risen 83.1%, as of intraday trading on 11th September 2023.
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Source: ASX
In a 9th August 2023 presentation at the Diggers & Dealers Mining Forum, Boss Energy outlined its plan to become “Australia’s next uranium producer”.
The Honeymoon Project is fully funded and permitted.
The project has a historical track record of uranium production.
The project is on time and on budget, with equipment orders and contractors in place and employee recruitment in progress.
The mine has potential for significant resource and mine life growth, as the historical mining operation tapped 50% of resources. Exploration drilling is underway.
Offtake agreements are under discussion.
An analyst at Medallion Financial has a BUY recommendation on Boss Energy shares, citing rising uranium prices, the long life of the Honeymoon Project, and the company’s strong financial position. It is Medallion’s “favoured uranium play”.
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