Boss Energy (ASX:BOE) has begun production at its Alta Mesa Project in southern Texas, US, putting the company on track to reach 3 million pounds of output a year.
The project — 30% owned by Boss — spans more than 20,000 acres and is managed by enCore Energy (TSX-V:EU), which owns the remaining 70%.
Boss Energy, which has a market capitalisation of $1.66 billion, says production is forecast to ramp up to 1.5 million pounds per year.
Managing Director Duncan Craib says the start of production at Alta Mesa is another milestone in implementing the company’s strategy to become a global uranium supplier.
“With operations now ramping up at both Honeymoon and Alta Mesa, we are on track to hit our combined nameplate production target of 3 million pounds of uranium per annum,” he says.
“Given that we are ramping up production in both locations and we have strong growth prospects at each one, Boss is very well positioned to continue capitalising on this huge opportunity.”
Production at Alta Mesa comes eight weeks after production began at the Honeymoon Project, where Boss says commissioning is proceeding to plan and production is expected to ramp up to 2.45 million pounds per year.
Write to Aaliyah Rogan at Mining.com.au
Images: enCore Energy
