Join our daily newsletter At The Bell to receive exclusive market insights
One day after Duncan Craib, the outgoing CEO of Boss Energy (ASX:BOE), effectively refused to talk to journalists at Diggers & Dealers on Monday – the company has responded to a lengthy please explain from the ASX first issued in late July.
And while the Boss share price appears to have been buoyed somewhat by the company’s response – shares were up +5.7% heading into lunchtime – many HotCopper users weren’t sure how authentic Boss’s replies to Listings Compliance were.
In short, what the ASX was really asking Boss in its letter was whether or not the company had reasonable grounds to suspect it wouldn’t meet earlier-voiced guidance parameters before declaring that the company’s CEO would quit days ahead of a production downgrade.
For many, this has been a foul-smelling series of circumstances, and one needn’t poke carefully around the edges of language to explain why. Just look at the company’s share price action: Boss is down nearly -60% in the last month.
Simpler yet, just look at its 1Y chart:
So what did Boss say on Tuesday? Not too much in terms of material gains for shareholders; but clearly at least some have used the opportunity to snap up shares.
The company relied heavily on the phraseology that its FY26 guidance update needs to be “understood in its full context,” and ultimately, the company has told the ASX that mining is hard, these things are hard to figure out, no funny business here.
Take this excerpt from page 2:
“Given the highly technical and complex nature of the processes and information involved in mining uranium at the Honeymoon Project, further detailed investigation and testing was required by the executive team to obtain sufficient certainty as to whether there was information which needed to be disclosed to the market.”
Quite a mouthful.
To those shareholders who bought into Boss Energy today, perhaps what the company’s Tuesday reply most clearly signalled is that the company intends to launch a hearty defence against complex claims of, to quote my niece, being suss.
BOE last traded at $1.77/sh.
Join the discussion: See what HotCopper users are saying about BOE and be part of the conversations that move the markets.
