Another Azz winner!
Original post (from another channel)...:
27-June-2022
Who here likes uranium? Delicious !
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SP: AU$1.84 (27-June-2022)
SP: AU$5.12 (today)
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Latest news:
"Boss Energy Limited is pleased to announce that it has successfully passed the final technical milestone in its Honeymoon re-start strategy, paving the way for the first drum of uranium to be filled in the next two weeks."
https://bossenergy.com/investors/asx-announcements
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Boss produces first drum of uranium
Major milestone paves way for strong growth in production, cashflow and financial returns as Boss increases production rate by leveraging the infrastructure and extensive JORC Resource
Boss Energy Limited (Boss or the Company) is pleased to announce that it has produced the first drum of uranium at its 100 per cent-owned Honeymoon Uranium Project in South Australia.
This major milestone is part of the highly successful commissioning process at Honeymoon, which will see production ramp up to 2.45Mlb of U3O8 a year.
As well confirming the project's technical and operational success, Boss has delivered exceptional shareholder returns. The Company has no debt and $298 million of liquid assets (being cash, equity investments and physical uranium) as at March 31, 2024. This is equal to almost 70 per cent of the funds Boss has raised since it acquired Honeymoon in December 2015. This reflects Boss' focus on creating value for shareholders which has helped Boss grow its market capitalisation from $37M in December 2015 to almost $2B today.
Boss paid US$30.15/lb for its strategic inventory of 1.25Mlbs of U3O8 in March 2021 at a total cost of US$37.68M (A$49.69M). As at 31 March 2024 the inventory was valued at US$110M (A$169M) with the spot price of US$88/lb.
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https://bossenergy.com/investors/asx-announcements
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Informative article on Boss progress:
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[...]
Boss holds a uranium mineral export license for 3.3 million pounds per year and in December, it announced a binding sales contract to supply uranium to an unnamed US power company.
Boss will sell a million pounds of uranium to the public utility over a seven-year period, commencing in 2025.
The agreement is based on market-related pricing with a ceiling and floor price that is above Boss' forecast production costs at Honeymoon, the company stated at the time.
The company is also pursuing growth outside of Australia.
In February, Boss announced the acquisition of a 30 per cent stake in the Alta Mesa uranium project in South Texas for about $90m, which Mr Craib said would grow the company's inventory, production and cashflow in "tier-one locations".
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https://www.news.com.au/finance/business/mining/sa-uranium-miner-boss-energy-announces-first-drum-from-honeymoon-project/news-story/7c1f5d765b2f81b3ca687969203d1229
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This company is doing so well. Lots of room above for the share price too!
Check this presentation out, if so desired:
"Countdown to Production"
https://bossenergy.com/images/media/BOE_Macquarie_Australia_Conference_Presentation.pdf