Boss Energy’s Honeymoon uranium mine in South Australia will continue its operational ramp-up over the coming financial year.
Honeymoon is expected to drive positive free cash flow in the 2025–26 financial year (FY26), enabling Boss to become cash flow positive as a whole.
In FY25, Honeymoon exceeded its first year production and cost guidance, producing over 872,000 pounds of uranium oxide at a rate of $35 per pound in C1 costs.
For FY26, Boss expects to produce 1.6 million pounds of uranium at $41–45 per pound of C1 costs. The all-in sustaining cost is expected to be $64–70 per pound.
The production guidance is based on the operation of nine wellfields by June 2026. Tenor is expected to decline over the coming financial year as existing wellfields from the Honeymoon domain are depleted and lower-grade wellfields at East Kalkaroo are brought online.
Wellfield construction is ongoing, with wellfield 4 complete and in flushing, and wellfield 5 to be complete and commissioned in the current quarter. East Kalkaroo trunkline materials are on-site, with construction to begin in August.
The lower tenor is expected to drive an increase in cash costs for Honeymoon’s uranium production in FY26.
Boss has continued to explore the larger Honeymoon region for further uranium deposits, with a focus on the Lake Constance target area. This was drilled in the early 1970s, when several radioactive intersections were recorded. A total of 33 aircore holes were drilled for 3770m.