Boss Energy starts new study after withdrawing 2021 Honeymoon feasibility plan

Boss Energy (ASX:BOE) has concluded its Honeymoon review and announced a new feasibility study, following significant deviations from the assumptions in its 2021 enhanced feasibility study.

The review revealed less continuity of higher-grade mineralisation, reduced leachability, and smaller wellfields than previously expected, which may materially affect life-of-mine production and costs from FY27.

As a result, Boss has formally withdrawn the 2021 EFS and advised it should no longer guide operational expectations.

Boss is exploring an alternative wide-spaced wellfield design, currently at a concept stage. Accelerated work programs have been initiated to assess its potential economic benefits.

An initial update is expected in Q1 2026, with a scoping study by Q2 2026 and the new feasibility study targeted for Q3 2026.

Early assessments suggest the design could lower costs and improve uranium recovery by increasing leaching time, reducing reagent use, and expanding the wellfield footprint.

Work has also begun on satellite deposits Gould’s Dam and Jason's deposit, with updated resource models and program details expected in Q1 2026.

FY26 production guidance remains 1.6 million pounds of U3O8, with C1 costs of US$27–28/lb and AISC of US$41–45/lb. Production to Dec. 10 was 357,000 pounds of U3O8.

At the time of reporting, Boss Energy's share price was $1.12.