Join our daily newsletter At The Bell to receive exclusive market insights
- Boss Energy (BOE) progresses preparation work to re-start production at its Honeymoon uranium project in South Australia
- Multiple work streams are in progress to ensure the project is ready to re-start production once BOE determines the price of uranium makes it commercially viable to do so
- Front-end engineering work is over 50 per cent complete and a high-voltage power connection agreement has been executed
- The company is looking to start up three wellfields and boost production to 1.2 Mlbs by the end of the first year
- Shares have been trading up at $2.55
Boss Energy (BOE) is progressing multiple work streams in preparation of the re-start of production at its Honeymoon uranium project in South Australia.
Multiple work streams are in progress to ensure the project is ready to re-start production once BOE determines the price of uranium makes it commercially viable to do so.
Boss is looking to start up three wellfields and boost production to 1.2 Mlbs by the end of the first year.
Of the work being undertaken, the company said Front-End Engineering Design (FEED) studies are more than half complete, and are on track for completion in the March quarter, 2022.
Once completed, these studies will allow detailed design to start as soon as a final investment decision is made.
Boss has also approved the project execution plan which outlines the objectives, processes and strategies that the appointed engineer and team will use.
According to the company, this plan will ensure a consistent approach is adopted by all parties managing the project.
Completion and lock of designs of Piping and Instrumentation Diagrams have increased from 69 diagrams completed in early October to now 88 of 95 complete.
The company expects the remaining layouts to be completed in the coming weeks, including wellfield instructure, water treatment plant and general water services.
On the path towards re-starting production, Boss has executed a high voltage connection service agreement with Essential Energy, a statutory state-owned corporation established under the NSW Energy Services Corporations Act 1995.
The new agreement was required for the company’s plan to upgrade the projects nameplate production to 2.45 Mlbs triuranium octoxide which will need additional transformers and other voltage control equipment.
Company shares were trading up 7.6 percent at $2.55 at 10.20am AEDT.
