Next Investors logo grey

The honeymoon isn’t over yet for Boss Resources


Published 21-JUN-2016 12:55 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Boss Resources (ASX:BOE) has had the strongest indication yet that it’s onto a winner with its plan to use an ion exchange process at its Honeymoon uranium project in South Australia.

The company had been working with the Australian Nuclear Science and Technology Organisation to test whether resins from the project would be suitable for an ion exchange process – which BOE thinks will lead to enough efficiencies at the project to get the mothballed Honeymoon up and running again.

It tested two resins from the project, and results from testing came back positive.

“We are encouraged by the positive results received from the initial stages of the resin technology test work program at Honeymoon,” BOE executive director Grant Davey said.

“We are confident that additional test work will result in further reductions to project OPEX, as we look to identify the optimal pathway for the re-start of the Honeymoon mine.”

It confirmed that preliminary engineering designs should be submitted to the regulator in June before it starts additional resource drilling on its eastern tenements in the third quarter.

Earlier this month it booked its third substantial resource upgrade for the project since BOE acquired the project at the end of 2015.

The upgrade was based on 165 drillholes and upgraded the resource to 40.1 million tonnes of uranium ore at 654 parts per million uranium oxide, for 57.8 million pounds of contained uranium oxide.

This is three and a half times larger than the resource at acquisition.

More on Honeymoon

Honeymoon is being planned as an in-situ leach uranium mine whereby acid is injected below ground in order to soak up and collect uranium mineralisation.

The solution is brought back to surface and process using an ion-exchange process, and then processed.

If all goes to plan, BOE envisages an expanded uranium mining operation to commence at Honeymoon in mid-2019, targeting 70-100 million pounds of production.

Next Investors Image

Location of BOE’s Honeymoon Project in South Australia

Work undertaken in 2013 by Honeymoon’s previous owners (Uranium One Inc) included a preliminary test work program on ion exchange (resin) technology, and BOE is following up on this.

t post-Fukushima prices the project was thought unviable, but BOE is betting on efficiency gains and a reverse in the price of uranium to help drive project economics – although the latter is not guaranteed.

According to previous estimates, BOE could expect to initiate an 880,00lbs per annum operation although this quantity was deemed inefficient and non-viable with depressed uranium prices.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.