Boss Energy driving momentum at Honeymoon uranium project with technical upgrades

Boss Energy (ASX: BOE) is forecasting strong quarter-on-quarter growth in ion exchange (IX) technology production and an increase in uranium drummed at its Honeymoon uranium project in South Australia.

During an analyst site visit to Honeymoon, the company confirmed it remains on track to deliver 850,000 pounds of triuranium octoxide (U₃O₈) for FY25.

The company said the U₃O₈ drummed had exceeded IX production as a portion of the inventory accumulated in previous quarters and was processed through the drying and packing stage.

Honeymoon ramp-up

Despite challenges with the kiln and baghouse, which form part of the drying and packing stage, Boss is forecasting the annualised run rate of 3Q25 to be approximately 1.18Mlb U₃O₈, which positions the company to continue to ramp up beyond FY25.

The company told analysts it continued to see the benefits from technical improvements it was undertaking at Honeymoon.

Boss is currently working on construction of the v2.0 well-house design as a modular unit fabricated offsite and examining the potential to adopt a ‘modular construction model’.

The company is targeting capital and operational cost improvements with this move.

ISR uranium project

The 100%-owned Honeymoon uranium project is an in-situ recovery (ISR) uranium mine.

Since acquiring Honeymoon in December 2015, Boss’s strategy has been to develop a larger processing facility utilising IX technology to improve the project’s technical and financial feasibility.

Boss produced its first drum of U₃O₈ in April 2024 and continues to ramp up Honeymoon towards an annual nameplate capacity of 2.45Mlb U₃O₈.

During the last half, Boss continued to increase production at Honeymoon, with 226,600lb of U₃O₈ drummed—an increase of 197,756lb on the June 2024 half-year, the first in which Boss recorded production following the successful restart of the operation.