Boss Resources will be Australia's next uranium producer, says CEO

It provides a base case to restart uranium production from the Honeymoon Restart Area of 2 million pounds U3O8 equivalent (769 tU) per year over a 12-year life-of-mine (LOM). This is from only 35.9 million pounds of the project's JORC-compliant global mineral resource of 71.6 million pounds. The project is fully permitted to export 3.3 million pounds per year of U3O8 equivalent, and can be fast-tracked into production within 12 months using existing plant which previously produced and exported uranium, the company said.

The feasibility study base case results "confirm we will be Australia's next uranium producer", Boss Managing Director and CEO Duncan Craib said today. Reflecting a "conservative base case" uranium price of USD50 per pound U3O8 over LOM, he said the study showed the project could "rapidly respond to a market rally, given the low capital barrier".

ISL operations began at Honeymoon in 2011 but the mine was put on care-and-maintenance in 2013 by its then-owner Uranium One. Boss acquired the project in 2015.

The company has also today announced the appointment of a new chairman, Peter O’Connor, to replace Mark Hohnen who is stepping down. Boss says O'Connor has extensive global experience in the funds management industry.