Boss Energy (ASX:BOE) has passed another key milestone in the development of its Honeymoon project, with the start of commissioning the first Ion-Exchange (IX) circuit within the processing plant.
The rapid progress being made on site has also resulted in successful modification and refurbishment of the re-agent systems.
The $2 billion market capitalisation company says these achievements mean Honeymoon is now running 24 hours a day, seven days a week, further accelerating its push towards production and ramp-up.
Managing Director Duncan Craib says: “This key milestone follows the continuous operation of the wellfields, water treatment plant, RO system and required reagents. We are now in the final stages of putting all the pieces of the project together and remain comfortably on budget and on schedule.
Our success to date has been underpinned by having our own in-house design, construction, and commissioning team, which has given us greater efficiencies and agilities than would be the case had we used an EPCM or full contractor development model.
This team will also deliver substantial ongoing advantages to Boss as we grow Honeymoon, utilising more of our significant resource and exploration upside and leveraging the infrastructure we have established.
With the uranium price recently hitting US$100 a pound, we are perfectly positioned to capitalise on this huge opportunity.”
Hydro testing the new IX circuit is expected to enable highly efficient capture, concentration, and purification of the uranium from the wellfields, resulting in increased throughput, more production, and lower costs than was possible using the solvent extraction system previously employed.
Boss Energy is an ASX-listed uranium company focused on restarting its Honeymoon Mine in South Australia. The project is fully permitted, with $170 million of established infrastructure already in place, including a well-maintained plant.
As of December 2023, Boss Energy had $226.717 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Boss Energy
