Boss Energy says ramp up on track at Honeymoon project
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The news: Boss Energy’s first production column at its Honeymoon uranium project in South Australia has achieved nameplate capacity, but its shares slumped in line with the sector trend.
The numbers: The company said it produced 72,516 pounds of Triuranium octoxide in July and August and is on track to achieve its production ramp up to 850,000 lbs by June 2025.
However, its shares slumped nearly 5% to $2.57 in early trading, in line with the decline in other uranium sector stocks.
Paladin Energy was also down nearly 5%, while Nexgen fell 6.3% and Bannerman lost 7%.
The context: The announcement comes a few months after Boss Energy announced the first production at Honeymoon, confirming the project’s technical and operational success.
Boss Energy shares are down more than a third so far this year, with a delayed ramp up at Honeymoon weighing on its stock price. Earlier this year, the company also started production at the Alta Mesa uranium project in Texas in which it owns a 30% stake.
The source: ASX announcement
