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Boss Energy’s Alta Mesa investment delivers increased uranium production and early contract fulfilment

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By Colin Hay - 
Boss Energy ASX BOE Increased Uranium Extraction Alta Mesa
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Boss Energy (ASX: BOE) has received further positive news from its US investment at the Alta Mesa uranium project in Texas.

The operator of the Honeymoon project in South Australia acquired a 30% stake in the Alta Mesa in situ recovery uranium project from US firm enCore Energy in February 2024 and has seen the operation continue to ramp up activities and production, particularly this year.

In its latest update, enCore Energy reported that Alta Mesa continues to progress towards its targeted annualised production rate of 1.5 million pounds of uranium.

Deliveries brought forward

enCore reported it had been able to bring forward its August 2025 contract delivery requirements to May 2025 due to the improved uranium capture at the Alta Mesa Central Processing Plant.

The company also reported that, despite the project being offline for one day due to power failures associated with torrential rain, it achieved the capture of 50,000lb of uranium at Alta Mesa between 6 March and 31 March.

Boss is entitled to sell 30% of this as its own inventory, unencumbered.

Record production

Alta Mesa successfully produced an average daily capture rate in excess of 1,900lb of uranium per day for the last 26 days of March 2025.

This is the highest rate of production at the project since the plant returned to operations in June 2024.

So far during 2025, Alta Mesa has delivered 290,000lb of uranium under its contracts with utility companies.

Contracts on target

enCore is confident the project can deliver a further 365,000lb of uranium for contracts through 2025.

These successes followed the start-up of a second ion exchange (IX) circuit at the CPP in March.

The company designed the new IX circuit to double the total flow capacity from 2,500 gallons per minute (GPM) to 5,000GPM, with flow rate an essential factor in expanding the amount of uranium captured.

Multiple drill rigs

Elsewhere in the project area, 21 drill rigs are now in operation.

14 of these rigs are operating on the installation and advancement of Wellfield 7 (PAA-7).

Four rigs are handling development drilling at Wellfield 8 (PAA-8), two are working on exploration at Alta Mesa and one is at Upper Spring Creek.