Boss Energy continues to reap rewards from Alta Mesa uranium investment in Texas
Boss Energy’s (ASX: BOE) strategic investment in the Alta Mesa uranium project in Texas in February 2024 continues to pay off.
The company’s 30% stake in Alta Mesa, along with its 100% ownership of the Honeymoon uranium project in South Australia, has seen the company join the ranks of uranium producers.
A new update from Alta Mesa operator enCore Energy suggests that the Texas project looks likely to continue being a profitable asset in the Boss portfolio.
Production ramping up
enCore reported that Alta Mesa is on target with plans to ramp up to an annualised production rate of 1.5 million pounds of uranium chemical compound U₃O₈, also known as triuranium octoxide.
The acceleration of activities at Alta Mesa saw uranium capture in the most recent seven days exceed 3,000lb per day and peak at 3,705lb on 20 June.
That was a significant jump from uranium capture during the first 22 days of June 2025, during which the project averaged 2,410lb per day for a total of 53,022lb.
Continued improvements
“The continued improvements in our rate of uranium extraction and advancement of well field development are a result of a top-performing team and streamlined operations,” enCore Energy executive chair William Sheriff said.
“We have always recognised the depth of experience and strength of our team and their expertise is being clearly demonstrated during this ongoing ramp-up phase.”
Other advances at Alta Mesa include well field development, which continues to expand with the addition of 13 extraction wells and 15 injection wells.
Mr Sheriff said this formed part of the ongoing ramp-up strategy to advance well field expansion every four to five weeks, with a total of 24 drill rigs in operation across the South Texas operations.
ISR processing plant
Located on more than 200,000 acres of private land and mineral rights, the Alta Mesa uranium project hosts a fully licensed and constructed in-situ recovery (ISR) central processing plant and operational well field.
Total operating capacity is 1.5Mlb of uranium per year, with additional drying capacity of 0.5lb.
enCore is the operator and 70 per cent-owner of the project, in which Boss acquired its stake in return for 30% of the mines’ produced uranium.