Boss Energy Limited
Boss Energy Limited
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Everyone would like an extended honeymoon, and that’s just what Boss Energy has in mind after returning strong drilling results at its 100%-owned Honeymoon uranium project in South Australia.
Boss says its go-ahead last month for development of an 11-year mining operation was based on just 50% of the project’s total 71.6Mlb U3O8 JORC resource, and infill and resource extension drilling have further highlighted the potential to grow its production and mine life.
Boss Energy has declared it’s on track to become Australia’s newest uranium producer by the end of 2023 after reaching the final investment decision on the $80M redevelopment of the Honeymoon project in South Australia.
Boss Energy is tracking to become Australia’s newest uranium producer in the Dec 2023 qtr following the final investment decision on its 100%-owned Honeymoon project in South Australia, 65km NW of Broken Hill.
The company is fully funded for the $US80.1M total capital cost development that is expected to produce 2.45Mlbpa U3O8 at steady state for a total 21.81Mlb over 11 years at AISC of $25.62/lb.
Boss Energy is readying for a final investment decision in early May on restarting its Honeymoon uranium project in South Australia with the completion of an engineering study confirming its potential for strong financial returns.
The FEED study found the costs, technical performance and financial returns from the project 80km NW of Broken Hill will be in line with its enhanced feasibility study last year.
Canadian major First Quantum will fund base and precious metals exploration over the development-ready Honeymoon uranium project in South Australia under a new $A6M agreement with Boss Energy.
FQM may earn 51% of base and precious metals rights across five tenements 65km NW of Broken Hill by funding exploration for iron oxide copper gold and other mineralisation styles, then 75% by sole-funding expenditure through to a decision to mine.
Boss Energy has moved another step closer to restarting the mothballed Honeymoon uranium project in South Australia by appointing engineer Process E&I to design and install electrical, instrumentation and control systems.
CEO Duncan Craib says Boss has also made key engineering and design personnel appointments to minimise delay between a financial investment decision and starting production at the proposed 2.45Mlbpa, 10-years+ project 80km NW of Broken Hill.
With spot prices hitting six-year highs at $US39/lb last week, Boss Energy is strengthening its position as Australia’s most advanced uranium producer with front-end engineering and design at its 100%-owned Honeymoon project ahead of schedule for completion in the Mar 2022 qtr.
MD Duncan Craib says it will allow Boss to begin detailed design immediately it reaches a final investment decision on restarting the South Australian brownfield project after seven years on care and maintenance.
An enhanced feasibility study has reinforced Australian explorer Boss Energy’s opportunity to take advantage of a strengthening global uranium market, paving the way to progress offtake and project funding discussions at its 100%-owned, fully permitted Honeymoon project in SA.
The new study assesses a 22.5% increase in the nameplate production capacity at the project 80km NW of Broken Hill to 2.45Mlbpa, with its Honeymoon Restart Area resource of 36Mlb U3O8 supporting a mine life of over 10 years.
An enhanced feasibility study due for completion in coming weeks will be the key for Australian explorer Boss Resources to establishing a clear pathway for the restart of production at its 100%-owned Honeymoon uranium project in South Australia.
Boss says it has all federal and state permits plus binding purchase agreements for 1.25Mlb U3O8 in its quest to be the next producer at a time when global uranium demand and prices are widely expected to increase in the near-term.
Boss Energy has identified the potential to increase the namplate capacity of its planned Honeymoon uranium project in South Australia to 2.45Mlbpa - up from the 2Mlbpa in its DFS in Jan 2020 - on the back of process engineering studies that incorporated ion exchange columns.
The studies were done as part of an enhanced feasibility study that will incorporate updated engineering and pricing information.
Boss says the introduction of ion exchange columns also have the potential to reduce operating costs.