BOE surged +7.3% on Monday, but after correcting over 60% through 2024, more is required to help suffering shareholders. BOE operates the Honeymoon project in South Australia, and having restarted operations in 2024, they are ramping up to full production of 2.4Mlb in FY27. However, their processing plant is still in construction, and having witnessed poor execution from PDN and PEN over recent weeks, it’s not surprising that investors are cautious, at best.
- We haven’t been fans of BOE over the last 12-months, but around $3, we believe value is on offer for patient investors.
MM is cautiously bullish BOE
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