Name of the Project
Honeymoon uranium mine restart project.

Location
South Australia, about 80 km north-west of Broken Hill, near the border with New South Wales.

Project Owner/s
Boss Energy.

Project Description
In June 2021, Boss delivered an enhanced feasibility study (EFS) on the project. The EFS proposed the removing of the existing solvent extraction (SX) plant and replacing it with ion exchange (IX) capacity to increase the production profile to 2.45-million pounds a year over an 11-year life-of-mine (LoM).

Uranium produced over the LoM is estimated at 21.81-million pounds.

In situ recovery has been chosen as the preferred method of mining.

The EFS is based on only 36-million pounds of the total Joint Ore Reserves Committee-compliant resources of 71.6-million pounds, highlighting scope for significant growth.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Honeymoon has a pretax net present value of $308.7-million and a forecast internal rate of return of 47.1%.  Project payback is estimated at 3.5 years.

Capital Expenditure
$80.01-million – using IX as a replacement the existing SX plant.

Planned Start/End Date
Boss started mining activities at the project in October 2023. Boss expects production to total at least 850 000 lb of uranium by June 30, 2025.

Latest Developments
The commissioning and ramp-up of the Honeymoon uranium mine is proceeding to plan with key production metrics meeting feasibility study forecasts.

The first IX circuit is operating at nameplate capacity, proving that the technology works at the rate and scale forecast in the feasibility study.

Commissioning of the second IX circuit is under way and will start production towards the end of September. Construction of the third IX is advancing rapidly and is set for completion in the December quarter.

Bringing each new IX production column online will result in a proportional increase in production and lower the cost per pound of production.

Boss Energy MD Duncan Craib has reported that supplies of the pregnant leach solution, grades and extraction rates are meeting or exceeding the company’s targets and overall uranium production rates are increasing in line with the schedules in the feasibility study.

In April, Honeymoon produced its first drum of uranium. The company is targeting 850 000 lb of uranium oxide in the 2025 financial year.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Boss Energy, tel +61 8 6263 4494 or email boss@bossenergy.com.