KALGOORLIE (miningweekly.com) – Uranium developer Boss Energy is looking to grow production at its Honeymoon project, in South Australia, once the project is in full swing.
The ASX-listed company earlier this year pulled the trigger on the A$113-million restart of the project, with the aim of producing first uranium in the December quarter of 2023, and ramping up to a steady-state rate of 2.45-million pounds of uranium oxide (U3O8) a year over a mine life of 11 years.
The restart project is expected to generate a post-tax net present value of A$729-million and revenues of A$1.2-billion over the life of the project.
Boss Energy MD and CEO Duncan Craib told Mining Weekly Online, on the side-lines of the Diggers and Dealers conference, that the restart project contained 36-million pounds of U3O8, with a further 36-million pounds of resource contained within two satellite deposits, which could be brought into production at a later date.
“We are taking a pronged approach at Honeymoon. We are getting the project up and running, and producing cashflows, and then we will look at those satellite deposits. We are also open to merger and acquisition opportunities, but our primary focus is to get Honeymoon into production,” Craib said.
First production from Honeymoon is expected in the fourth quarter of 2023, and the project will ramp up to full capacity within three years.