Australia's Boss Energy eyes best day in nearly 3 years on robust output growth
Shares of Boss Energy rose about 16% on Wednesday and were poised for their best day in nearly three years, after the uranium miner reported quarterly output well ahead of analysts' estimates for its flagship Honeymoon project in South Australia.
The stock climbed as much as 15.9% by 00:26 GMT and was set for its best single-day rise since March 2022 if current gains held. It was the top gainer on the S&P/ASX 200 benchmark index, which was up 0.5%.
An ongoing production ramp-up at Honeymoon helped the miner log uranium concentrate (U308) output of 215 319 lb in the October-December period, almost double from the prior quarter, and beating a consensus estimate of about 157 400 lb, according to analysts at Jefferies.
The company reiterated its fiscal 2025 production forecast of 850 000 lb of U3O8 for Honeymoon.
Boss Energy and other uranium stocks rose sharply last week, propelled by a planned $500-billion private-sector investment to fund AI infrastructure and US President Donald Trump's plans for tariffs on major uranium exporter Canada.
"Security of supply is a major concern for nuclear utilities, particularly in the western world, and as a multi-mine tier 1 uranium producer, Boss is set to benefit from this changing and growing market," Boss Energy Managing Director Duncan Craib said in a statement on Wednesday.
The miner forecast costs of A$37 to A$41 per pound of U3O8 for the Honeymoon project for the second half of fiscal 2025.
The costs demonstrate an element of inflation, which is not unexpected and given industry-wide trends, analysts at Jefferies said.
"We see the potential of these to decrease marginally as the operation reaches steady state production over the course of CY26," they said.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
