Boss Energy on Track to Meet 2026 Guidance after Record September Quarter

Boss Energy (ASX: BOE) is on target to match its 2026 guidance after booking a record-breaking September quarter.

The company generated robust free cash flow with strong production from its Honeymoon uranium project in South Australia, and costs lower than the forecast annual guidance.

Boss enters the new quarter with zero debt, $212.4 million in cash and liquid assets, and 1.44 million pounds drummed inventory of uranium compound triuranium octoxide (U3O8),

Exploration Programs

Boss undertook a range of exploration work during the quarter with a major focus on the collection of low-cost passive seismic data from Honeymoon, as well as seismic and gravity data at its Kinloch project.

The company has commenced work to accelerate the permitting of Brooks Dam North as the northern extension of the Honeymoon orebody, along with Jason’s Deposit and Gould’s Dam.

The Alta Mesa uranium project in South Texas – in which Boss holds a 30% interest – reported total drummed production of 206,231lb, with Boss’s share coming out to 45,102lb.

The project received a boost during the quarter, with the discovery of additional roll front uranium mineralisation, and the addition of the highly prospective Alta Mesa East property.

Record Honeymoon Production

“This was another strong quarter from the Honeymoon operation with record production of 385,910lb of U3O8 at a C1 cash cost of $34/lb,” recently appointed managing director Matthew Dusci said.

“With our construction and production results proceeding to our FY26 plan as we bring wellfields and the IX columns online, we are well on track to meet FY26 guidance of 1.6Mlb.”

Boss made significant progress advancing a number of work programs during the quarter.

These included the commencement of a delineation drilling program at Honeymoon to improve our understanding of the resource, and establishing a team to conduct permitting and technical studies at Gould’s Dam and Jason’s Deposit.

Mr Dusci said the company would complete its strategic Honeymoon review, in which it is comparing the continuity of mineralisation and leachability results with the assumptions in an enhanced feasibility study, on time in the December quarter.