The Honeymoon re-development owner has increased resources at the project to 43.5 million tonnes grading 660 parts per million U3O8 with the addition of 6.2Mt at 790ppm from the Jasons deposit.
Boss suggested there was “good potential” for further increases to Jasons, with 9km of the total 12km trend undrilled.
Boss’ Honeymoon project is permitted and ready for re-development upon a decision to re-start and financing, with the operation have closed shortly after opening earlier this decade by its previous owners after the uranium price collapsed.
The project needs about $US64 million to be kicked back into life as a reengineered 2 million tonne per annum operation, with Boss flagging all-in-sustaining-costs of about $24 per pound.
The latter matches with the current spot price of uranium, with industry experts like Ux Consulting suggesting last week that no significant improvement in prices were likely until around the turn of the decade.
The basis for that argument is inventories and so-called term contracts that don’t expire until around that time.
Unsurprisingly though, company promoters in the sector are more optimistic on the outlook.
Boss raised $A6.8 million in January by issuing new shares a 6.5c.
Shares in Boss were unchanged at 7.3c in midday trade, capitalising the company at $73.5 million.
