Boss Energy (ASX:BOE) has fallen sharply on the Australian Securities Exchange (ASX), losing more than 40% of its share price following a disappointing FY26 Guidance for the Honeymoon Uranium Project in South Australia.
Shareholder value slashed around $620 million from its market capitalisation, now trading at $1.91 per share, previously Boss has been trading above $3 a share.
The company’s revised market capitalisation of $1.41 billion produced 1.6 million pounds of uranium for the most recent financial year from the Honeymoon Project, after first predicting a turnaround of 2.45 million pounds per annum.
Boss in an investor presentation has addressed the most recent output as one of “less continuity of mineralisation and leachability” as a potential challenge.
The news comes in time for a change in CEO and Managing Director, with current COO Matt Dusci stepping into the role from 30 September 2025, as reported by Mining.com.au.
Current CEO Duncan Craib announced his resignation last Thursday (24 July), after spending more than eight years in the role.
Craib played a large role in advancing the Honeymoon Project towards uranium production during his tenure.
Trading Economics reports the uranium spot price currently sitting at US$71.3 ($109.26) per pound, falling from the seven-month high it reached on 27 June with US$79 per pound.
Write to Maddison Elliott at Mining.com.au
Images: Boss Energy
