Image source: Shutterstock

Highlights

  • Boss Energy meets FY25 production guidance of 850,000 lbs of U₃O₈ ahead of schedule.

  • June quarter output up 11% from the previous quarter, despite planned maintenance.

  • FY26 production and cost guidance to be released on 28 July 2025.

Shares of Boss Energy Ltd (ASX:BOE) climbed 2% to AUD 4.57 during Wednesday morning trade, putting the ASX 200-listed uranium producer within reach of its 52-week high of AUD 4.63. The movement follows the company’s announcement of a major production milestone at its Honeymoon Uranium Operation in South Australia.

In an official release, Boss Energy confirmed that it has achieved its first-year production guidance of 850,000 pounds of U₃O₈, a key target for the financial year 2025. This milestone was reached ahead of schedule on 17 June 2025.

The company also reported a notable increase in quarterly production. For the June quarter to date, a total of 328,102 pounds of U₃O₈ have been drummed at Honeymoon, representing an 11% rise from the previous quarter. However, production for the remainder of June will be reduced due to a short, planned maintenance program, which Boss Energy states is intended to optimise operational readiness for a broader ramp-up in FY26.

Looking ahead, Boss Energy advised that its production and cost guidance for FY2026 will be released as part of the June quarterly report, scheduled for publication on 28 July 2025.

In a statement, Managing Director Duncan Craib expressed satisfaction with the progress at Honeymoon. He noted that meeting the company’s production guidance in its first year of operations marked a significant achievement. According to Craib, the result underscores the effectiveness of upgrades made to the processing circuit, including the implementation of ion exchange technology.

“We are extremely proud to have met production guidance in our first year of operating Honeymoon. This is a major achievement and is a testament to our talented and committed team. It also confirms that the changes we made to the processing circuit at Honeymoon, including the adoption of the ion exchange technology, have met or exceeded our expectations,” said Craib.

He further added that the company has remained consistent in its execution since 2021:
“We have done exactly what we said we would do. Not once since announcing the Enhanced Feasibility Study in June 2021 have we revised Honeymoon's cost or production guidance. And we have increased production in every successive quarter.”

Craib noted that consistent delivery would support the company’s broader objectives of scaling up production and capitalising on the positive global uranium demand-supply outlook.