Boss Energy cuts FY26 guidance after fresh rain delays Honeymoon recovery
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The news: Uranium miner Boss Energy has slashed its FY26 production guidance after heavy rain impacted operations at its Honeymoon site in South Australia.
The numbers: Boss reduced production guidance at the project to between 1.4 million and 1.45 million pounds drummed, down from its previous range of 1.6 million pounds.
The context: Boss reaffirmed its full-year guidance last month despite warning that heavy rain had impacted production for the third quarter by restricting site access and limiting the delivery of reagents and other goods required for production and plant infrastructure ramp-up.
The company said on Wednesday that unexpected rainfall since that announcement has extended disruption beyond its initial assessment.
Boss remains on track to deliver C1 cost guidance of $36-40 per pound and all-in sustaining cost guidance of $60-64 per pound. These were previously lowered from $41-45 per pound and $64-70 per pound respectively.
It is expected that FY26 costs per pound will be at the upper end of the cost guidance range, including impacts of fuel-related increases passed through by reagent transport and air charter providers.
What they said: “We recognise this downgrade is disappointing, particularly after maintaining guidance as recently as March,” said Boss CEO and managing director Matthew Dusci.
“These events have impacted performance in the short-term, however we anticipate rebounding to a normalised FY26 production run rate over the course of Q4 FY26.”
The source: ASX
