Boss Energy continues to generate strong uranium output as Honeymoon and Alta Mesa ramp up

Boss Energy (ASX: BOE) continues to make excellent progress on its global uranium development strategy, with its Honeymoon project in Australia and Alta Mesa asset in Texas leading the way.

With $252 million in cash and liquid assets and no debt, Boss is well placed to further support the ramping-up of production at Honeymoon and Alta Mesa, as well as explore a range of new Australian assets.

Managing director Duncan Craib said that Boss remained on track to deliver 850,000 pounds of drummed uranium for the 2025 financial year.

Strong quarter

Presenting at the 2025 Resources Rising Stars conference, Mr Craib pointed to the strong uranium production achieved at the Honeymoon operation in the recent quarter.

“This totalled 295,800lb of drums produced, representing a 116% increase from the prior quarter,” he said.

The company achieved strong product sales during the quarter, selling 268,000lb of uranium at an average sales price of around $136/lb, generating approximately $36m, with uranium inventory of 1.12 million pounds on hand as at 31 March.

Boss also achieved a number of key milestones during the quarter as part of the ramp-up plan, including bringing into production Well-field B3, successfully commissioning kiln 2 and commencing operations from IX column 3 towards the end of the quarter.

Alta Mesa progress

Boss recently received further positive news from its US investment at the Alta Mesa in situ recovery uranium project.

Boss acquired a 30% stake in Alta Mesa from US firm enCore Energy in February 2024 and has seen the Texas operation continue to ramp up activities and production, particularly this year.

enCore Energy recently reported that Alta Mesa is continuing to progress towards its targeted annualised production rate of 1.5Mlb of uranium.

Improved uranium capture

enCore has been able to accelerate its August 2025 contract delivery requirements to May 2025 due to improved uranium capture at the Alta Mesa Central Processing Plant (CPP).

Over the last 26 days of March, the project produced an average daily capture rate in excess of 1,900lb of uranium per day—the highest rate since the plant returned to operations in June 2024.

The US company also reported the capture of 50,000lb of uranium at the Alta Mesa CPP between 6 March and 31 March, taking the total delivered so far to 290,000lb.