Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) is pleased to provide an update on the strong progress being made as part of the commissioning and production ramp up at its Honeymoon Uranium Mine. Boss Managing Director Duncan Craib said: “We continue to meet or exceed all of our key targets and are comfortably on track to meet our production guidance. “The first IX circuit is now operating at nameplate capacity, proving that the technology works at the rate and scale forecast in the Feasibility Study. This is a pivotal point in the project’s development. “Commissioning of the second IX circuit is underway and construction of the third is advancing rapidly.
Honeymoon Ramp-up Activities Construction of NIMCIX column 2 is complete and will commence production towards the end of September. NIMCIX column 3 remains on track for completion and production in December quarter 2024.
As hydrotesting is now complete on column 2, Honeymoon will finalise the control circuits and sequence testing, and run the system with RO water followed by PLS in September 2024. Columns 4, 5 and 6 will be commissioned in 2025 to enable ramp-up to continue to be in line with Feasibility Study forecasts, to achieve Honeymoon’s nameplate capacity of 2.45Mlb/annum of U3O8.
BUT:
In general, the mining sector is on the nose!
The uranium spot price trades at $79/ pound
Given the Federal Government’s decision late last week to end the mineral lease on Jabiluka, Boss has withdrawn the offer and discussions have concluded.
Uranium Trend 5yr:
Boss Energy (ASX: BOE; OTCQX: BQSSF) is pleased to report strong progress in the commissioning and ramp up at its Honeymoon uranium mine in South Australia, with a total of 57,364lbs of U308 produced by June 30, 2024.
Stripping of uranium from the loaded resin continues to be virtually 100%, also demonstrating that the ion exchange process is working as designed, resulting in a high-grade concentrated eluate greater than 7-9 g/L
State are circling . State St must like filling out : Form 603
Boe Short position: ~ 3.5%
