Boss Energy pushes ahead with Honeymoon restart with all required permits confirmed
Boss Energy (ASX: BOE) has confirmed it has all requisite permits in place as it pushes towards the restart of mining at its Honeymoon uranium project in South Australia.
The confirmation comes after the company conducted a comprehensive review of all South Australian and federal government required permits.
Boss has all state and federal approvals in place to undertake mining and processing of uranium as well as storing, transporting and exporting ore from the project.
According to Boss, the permits include the proposed ion exchange columns for the processing plant, which aim to reduce costs.
The columns are included in an enhanced feasibility study, which is scheduled for release “in the coming weeks”.
Updated permits were also required to increase the nameplate production capacity to 2.45 million pounds a year and Boss has these at hand.
On track to become Australia’s next uranium miner
Boss’ overarching strategy is to become a “first mover” uranium producer to take advantage of the new uranium cycle where tight supply and higher prices are anticipated.
Another key milestone in Boss’ push to become Australia’s next uranium miner is the securing a stockpile of 1.25Mlb of uranium.
Boss says acquiring this inventory will de-risk the commissioning phase at Honeymoon, while leveraging the company to capitalise on any future uranium price increases.
This will shore up the company’s financial position and support the mine restart, while also increasing flexibility with project funding and offtake negotiations that are underway.
“Global demand for uranium, and therefore the price, is widely expected to increase in the near-term,” Boss managing director Duncan Craib explained.
“The soon-to-be completed enhanced feasibility study will provide a roadmap to re-commissioning with simple modifications.”
Mr Craib said a complete enhanced feasibility study also paves the way for the company to lock-in binding offtake agreements.
“Combined with a significant uranium stockpile locked in at attractive prices and all the required approvals and permits for near-term production in place, Boss is well on track to be Australia’s next uranium producer,” Mr Craib added.