Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM, Can you please provide your updated views on Boss following the release of its FY26 results, and new feasibility study and updated life-of-mine plan. Do you view it as a good option for uranium exposure and, if so, at what approximate price? Thanks, Darren
Hi Darren,
BOE released its FY26 result on Thursday, returning to profitability as EPS improved to 0.61c from an 8.31c loss a year earlier, while revenue more than doubled to $151.1m from $75.6m. For FY27, Boss is guiding to production of 1.25–1.30Mlbs of U₃O₈ at an AISC of $83–92/lb.
However, the result was overshadowed by an updated feasibility study and Mineral Resource Estimate for its Honeymoon Uranium Operation, which showed contained uranium falling 42% to 20.8Mlbs, alongside a 33% reduction in average grade versus the 2019 estimate.
Broker reactions were mixed but generally negative although some believe the market has overreacted to the resource downgrade despite the clear deterioration in Honeymoon’s economics and mine-life outlook.
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