BOE is now an almost a $280m play following the stocks rapid appreciation in 2021, it owns the fully permitted Honeymoon project in South Australia which requires low upfront capital and only 12 months to restart – just higher uranium prices of course to make it stake up! With operations in Australia there is a degree of stability offered by the company, at this stage we believe Boss requires around $125m to restart operations and move through to 2Mlb/yr of U3O8 production, hence it will need to raise a total of A$50m equity to recapitalise the company – a strategic position might enable investors to get access to “cheap” stock in a future capital raise.
MM likes BOE as a small cap play.
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