Core Lithium, Boss Energy lead as S&P/ASX200 closes lower

The Australian share market closed slightly lower on Friday (12 January 2024), with the benchmark S&P/ASX200 index slipping 0.1% to 7,498.3 points.

Gold, iron ore, and uranium prices were all higher. The spot gold price closed up slightly to $US2,034 an ounce, while iron ore was 1.1% higher to just over$$US134 per tonne.

As reported by Mining.com.au, uranium breached US$100 per pound this week, according to independent broker Numerco. The price sits at about US$92.50 and has almost doubled from the US$50.35/lb price seen in Q2 2023.

Core Lithium (ASX:CXO) finished the day almost 7.7% higher at $0.210 a share. Last week the company announced it was suspending mining operations amid a subdued lithium market.

Uranium company Boss Energy (ASX:BOE) closed about 5% higher to $5.090 on the back of the uranium spot price reaching highs not seen since 2007, as reported by Mining.com.au. Boss is focused on the re-start of the Honeymoon Uranium Project in South Australia.

Honeymoon represents one of the few uranium projects globally to take advantage of these early stages of the uranium bull market.

In December, Boss entered into its first binding sales agreement for the supply of uranium from Honeymoon in an agreement that will see the company sell 1 million pounds of uranium to a major publicly listed US power utility over a 7-year period commencing in 2025.

And Bellevue Gold (ASX:BGL) was another top-performing mining stock, closing trade today at $1.595 per share, some 4.59% higher.

Write to Adam Orlando at Mining.com.au

Images: Boss Energy & Core Lithium
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Written By Adam Orlando
Mining.com.au Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.