Boss Energy shares rally despite full-year loss
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More news: Uranium miner Boss Energy saw its shares jump in morning trade, even as it fell to a full-year loss, following its first financial year of operations at its flagship Honeymoon mine.
Boss shares were up 13% to $2.05 at 11am AEST. The stock is up 26.3% over the last 12 months.
Boss Energy swings to full-year loss as non-cash costs stack up
The news: Boss Energy dropped to a statutory loss of USD34.2 million ($52.4 million) for fiscal 2025, down from a USD44.6 million profit in FY24, after the uranium company reported on its first full financial year of production at its Honeymoon and Alta Mesa projects.
The numbers: The net loss was attributed to non-cash costs relating to purchased uranium and inventory write-downs.
Boss generated USD$75.6 million in revenue, reflecting sales of its first 650,000 pounds of purchased uranium.
The context: Managing director Duncan Craib pointed to the company's "very strong financial position", with $224.3 million in cash and liquid assets and no debt. He said the company generated positive free cashflow of $17.4 million from the first year of production its Honeymoon operation in South Australia.
Boss saw its share price tumble last month after warning of "potential challenges" in hitting nameplate capacity at its flagship Honeymoon site. The miner also set higher-than-expected cost guidance for the 2026 financial year.
The source: ASX
