Boss Energy rallies as Honeymoon project generates free cashflow

The news: Uranium miner Boss Energy was the best performing ASX 200 company in early trading after reporting the first free cashflow from its flagship Honeymoon project during the March quarter.

The numbers: Boss shares were up 4.6% to $2.93 at 11am AEST, extending gains of more than 20% since the turn of the year.

The company produced 295,819 pounds of uranium concentrate during the quarter, up 116% compared to the previous quarter. Production is also running at costs lower than second-half guidance.

The context: Boss said there were some commissioning challenges at Honeymoon, resulting in some unplanned downtime during the quarter. The company noted that some challenges remain unresolved by are not expected to impact its guidance target of 850,000 pounds in fiscal 2025.