Boss Energy has released its latest quarterly report, which shows that, after a productive quarter, the company is honing in on its target of achieving first uranium production in the December quarter of 2023.
Boss has reported that the committed expenditure at the Honeymoon project now represents 79 per cent of the budgeted $105 million total. The project is running on time and on budget.
The key achievement during the quarter was the completion of the first wellfield and related gypsum pond, while the water treatment plant nears completion. Work is also underway to flush the startup wellfields.
Boss Managing Director, Duncan Craib, said that the construction and re-start program continued to proceed to plan in the June quarter, ensuring the company remained on budget and on schedule for first production in 2023.
“We are completely focused on executing our plan, which will see us become Australia’s third uranium producer in the coming quarter,” Mr Craib said.
“We are also extremely encouraged by the strong progress being made on site and the ongoing tightness in the uranium market, which augurs very well for the spot price over coming months.
“This is reflected in the rising level of inbound inquiries we are receiving in respect to offtake and long-term contracts generally.
“Given we are fully funded through to production, with cash on hand of $89 million and a strategic uranium stockpile valued at $106 million based on current spot prices, as well as no debt, we are in the enviable position of being able to enter offtake arrangements when we deem the market position to be highly desirable.”
Featured image: The Honeymoon wellfield. Image credit: Boss Energy.
