BOE – Structural Update Worth Attention

Boss has released new resource estimates for Gould’s Dam and Jason’s Deposit. The headline grades are lower. The overall position is stronger because the deposits are now better defined and clearly suitable for in‑situ recovery.

Key points:

• Gould’s Dam: 33.1 million pounds
• Jason’s Deposit: 12 million pounds
• Hosted in permeable sands that support in‑situ recovery
• Mineralisation remains open
• Further drilling planned
• Close to existing Honeymoon infrastructure

The important shift is the clarity of the development path.

Boss has advanced the groundwork needed for approvals: groundwater studies, ecological surveys, engineering concepts and early engagement. Mining lease applications are targeted for the second half of this year. The approvals window is expected to run for two to three years.

The consistency across the region means the technical work and operating experience from Honeymoon can be applied directly to these deposits. That reduces uncertainty and strengthens the long‑term production profile.

This update doesn’t change the short‑term price outlook. I believe it improves the long‑term structure of the business.

What I’m watching next

• Progress on the mining lease applications
• How the groundwater and ecological work feeds into the approvals process
• Integration plans for Gould’s Dam and Jason’s with Honeymoon
• Any early engineering detail on wellfield design and sequencing
• The next round of drilling results

Disc: Holding IRL, buy order at $1.50 on SM