Highlights

  • Honeymoon drummed 359,000 pounds of uranium oxide in Q1 FY27.
  • Quarterly C1 costs were AUD 47 per pound and AISC was AUD 79 per pound.
  • FY27 production guidance remained 1.25–1.30 million pounds.

Boss Energy Ltd (ASX:BOE) operates in the energy sector and has reported its latest operational and corporate developments. Its shares were quoted at AUD 1.478, a rise of 9.04%, on 28 October 2026. The company’s attached announcement covers production, project progress, financial measures and relevant management targets. These market figures and the reported Business developments describe separate information and do not establish a causal relationship.

Honeymoon quarterly performance

Boss Energy reported drummed uranium production of 359,000 pounds U3O8 in the September quarter, down approximately 1% on the previous quarter. Ion-exchange production was 337,000 pounds, down 9%. C1 cash cost was AUD 47 per pound and All-In Sustaining Cost was AUD 79 per pound. The company reported Capital Expenditure of AUD 13 million and an average realised sales price of AUD 117 per pound.

Wellfield transition

The quarter included the first complete production period from B6, the final wellfield under the earlier design. Flushing commenced at EKT1, the first of the new wide-spaced wellfields. Construction continued at HMT1, EKT2 and EKT3, with staggered production commencement targets extending into FY28. Water-treatment plant upgrades also progressed under staged completion schedules.

Feasibility study and development scope

Boss completed a new feasibility study covering its wide-spaced in-situ recovery wellfield design. The study forecast approximately 13.8 million pounds of drummed uranium across nine years, with operations extending until at least FY34. It also identified a longer-term regional hub concept encompassing Honeymoon, Jason’s Deposit and Gould’s Dam. The larger-scale annual production ambition was presented as an aspiration rather than committed guidance.

Cash and guidance

At the September quarter end, Boss reported AUD 195 million in cash and liquid assets. FY27 guidance was 1.25–1.30 million pounds U3O8, C1 costs of AUD 51–56 per pound, all-in sustaining costs of AUD 83–92 per pound and capital expenditure of AUD 58–65 million. The company stated that September-quarter outcomes remained consistent with the full-year targets.

Other Disclosed Activity

The announcement also sets out management’s stated operational priorities, the relevant planning or reporting periods and factors that may affect the timing of projects. Where future dates or capacities appear, these are company expectations, targets or conditional development scenarios rather than completed outcomes. The distinction is especially relevant to proposed investments, exploration wells, commissioning programs and licence or joint-venture arrangements. The figures presented above reflect the company’s disclosed basis of measurement and should be read within the relevant reporting period.

Production assumptions and costs

The New Feasibility Study used 86,670 metres of new drilling, operating data from in-situ recovery and reactive-transport modelling. It considered a revised wellfield spacing system rather than treating the September-quarter production rate as the full operating profile. Quarter-on-quarter C1 costs increased from AUD 45 to AUD 47 per pound, and AISC increased from AUD 70 to AUD 79 per pound. Alta Mesa reported 10,000 pounds of production on a gross project basis, compared with 45,000 pounds in Q4 FY26; Boss did not receive product from Alta Mesa during the quarter. The company noted that rainfall caused 19 days of lost Honeymoon production. The disclosed longer-term output ambition is not part of FY27 guidance.