Boss Energy's Alta Mesa ramp-up passes 'key milestone'
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The news: ASX-listed uranium producer Boss Energy has said that the first of three ion exchange (IX) plants at its 30% owned Alta Mesa uranium project in Texas is nearing flow capacity, marking an 'important milestone' in its production ramp-up.
The numbers: Alta Mesa is ramping up to a yearly production rate of 1.5 million pounds of uranium yellowcake. Boss' share of production at the project stands at 30%, with 70% owned by Nasdaq- and TSXV-listed enCore Energy Corp.
The context: The first IX plant was commissioned in June 2024 with the second IX plant planned to commence operation in the first quarter of 2025 and the third IX plant planned to be online by the end of 2025.
Ion exchange is a filtration system which removes liquid uranium from from groundwater before being dried and processed into uranium yellowcake.
On Wednesday, Boss said its flagship Honeymoon uranium project in South Australia is on track to meet FY25 production guidance, after making its first shipment and sale during the September quarter.
What they said: "We have been very pleased with the initial phase of results from Alta Mesa and production from the initial startup," said enCore's CEO Paul Goranson.
"We continue to work towards reaching full capacity through 2025 with plans to be fully operational at all three of our ion exchange plants."
The source: ASX announcement
