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- Boss Energy (BOE) opens green on the ASX after announcing some key developments at its flagship Honeymoon Project in South Australia
- Front-end engineering and design (FEED) work at the project is running well ahead of schedule, now expected to be finished early in the 2022 calendar year
- Meanwhile, Boss has appointed Jonathan Owen as Project Manager for Honeymoon
- Managing Director Duncan Craib says Boss is extending its advantage as the “most advanced emerging uranium producer” in Australia
- Shares in Boss Energy are up 3.11 per cent and trading at 23 cents each at 10:29 am AEST
Uranium specialist Boss Energy (BOE) has opened green on the ASX today after announcing some key developments at its flagship Honeymoon Project in South Australia.
The company said front-end engineering and design (FEED) work at the project is running well ahead of schedule, with the company expecting to complete FEED work at the project early in the 2022 calendar year.
Boss also announced today it has appointed a Project Manager for Honeymoon.
According to Managing Director Duncan Craib, Boss Energy is extending its advantage as the “most advanced emerging uranium producer” in Australia.
“We have a plant on care and maintenance, other significant production, and storage infrastructure in place,” Mr Craib said.
“We have formed an Owner’s Team to restart Honeymoon and we are moving through the FEED stage rapidly.”
Boss said this rapid FEED work comes against a backdrop of rising uranium prices, with the spot price of the metal hitting a six-year high of US$39 (A$52) per pound last week.
This bodes particularly well for BOE after the company snapped up 1.25 million pounds of uranium at US$30.15 per pound back in March. Given the US-Australian dollar exchange rate at the time, this equated to around $49.69 million all up for the uranium inventory.
Boss said today, this same uranium is now worth US$48.75 million (A$65.88 million).
The company explained that this inventory was “highly important” to Boss as it worked to lock in offtake deals and finalise project funding.
What’s next for Honeymoon?
With FEED work slated for completion during the first quarter of 2022, Boss will be able to immediately begin detailed design work once a final investment decision (FID) for the Honeymoon Project is made.
As far a design work goes, Boss said it has already finished 58 per cent of its planned piping and instrumentation diagrams (P&IDs). The company plans to complete more P&ID layouts in the coming months.
New Honeymoon Project Manager
As work at the Honeymoon Project progresses, Boss has signed on Jonathan Owen as Project Manager for the mine.
Boss said Mr Owen has “extensive” experience in project management and development and has worked in all aspects of the project lifecycle, from feasibility to handover.
Mr Owen previously worked for the likes of First Quantum Minerals and Outotec.
Shares in Boss Energy were up 3.11 per cent and trading at 23 cents each at 10:29 am AEST. The company has a $517 million market cap.
