Boss Energy shares lift on new project
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More news: Shares in Boss Energy rose nearly 4% to $4.24 in early trading on the ASX after it announced production had started at the Alta Mesa uranium project in Texas in which it owns a 30% stake.
The announcement comes a few months after Boss announced the first production at its Honeymoon uranium project in South Australia.
Boss Energy-owned US uranium project starts production
The news: Boss Energy has announced that production has started at the Alta Mesa uranium project in Texas in which it owns a 30% stake.
The numbers: The Alta Mesa project consists of over 200,000 acres plus the central processing plant and wellfields, and is managed by Nasdaq-listed uranium producer enCore Energy Corp, which owns a 70% stake.
Production is forecast to ramp up to a steady-state rate of 1.5 million lbs a year, with Boss retaining sale and marketing rights over its pro-rata share.
The context: The announcement comes a few months after Boss Energy announced the first production at its Honeymoon uranium project in South Australia, confirming the project’s technical and operational success.
That project will eventually produce up to 2.45 million lb of uranium Triuranium octoxide a year. Boss Energy shares are up by a third over the past 12 months, boosted by the rising price of uranium as its popularity has grown with national governments looking for diversified solutions to meet emissions targets.
The source: ASX announcement
