- Boss Energy (ASX: BOE) is making significant progress at its Honeymoon uranium project in South Australia
- Wellfield pre-conditioning is underway, ensuring efficient uranium extraction
- The project remains on track for production this December quarter
- Boss Energy’s efforts to optimise the project are paying off
- BOE is up 6.12 per cent, trading at $4.60 at 11:16 am AEDT
Boss Energy (ASX:BOE) has achieved a key milestone at its Honeymoon uranium project in South Australia.
The company kicked off mining activities and the commencement of wellfield pre-conditioning, marking a crucial step toward uranium extraction in Q4 2023. Boss remains on schedule for production in the December quarter.
The process of wellfield pre-conditioning is vital in preparing the site for uranium recovery. It involves cleaning the wellfields to remove unwanted chlorides and calcium.
This preparatory step ensures that the subsequent uranium extraction is as efficient as possible.
Boss Energy has also achieved several key construction milestones, including the development of wellfields, the construction of a gypsum repository, and the commissioning of water treatment and reverse osmosis (RO) plants.
“It is a testament to the hard work and effort undertaken by all Boss employees over many years to reach today’s pivotal milestone, the commencement of mining activities on Honeymoon,” Boss Energy Managing Director Duncan Craib said.
The Honeymoon project had previously suspended mining operations in 2013 due to declining uranium prices. However, since acquiring the project in 2015, Boss Energy has conducted technical optimisation studies to ensure Honeymoon’s competitiveness as a global mining operation in a tier-one location.
The uranium market is tightening, and the spot price is on the rise, currently trading at a decade-high of US$69 (A$107) per pound.
Boss Energy was up 6.12 per cent, trading at $4.60 at 11:16 am AEDT.