Boss Energy's Production Milestone at Alta Mesa Uranium Project

Boss Energy Limited (ASX: $BOE) has announced the commencement of production at its 30 per cent-owned Alta Mesa In-Situ Recovery ('ISR') Central Processing Uranium Plant and Wellfields ('Alta Mesa Project') in South Texas. The company is on track to become a ~3Mlbs-a-year producer, with production forecasted to ramp up to a steady-state rate of 1.5Mlbs a year. This milestone comes just eight weeks after the start of production at Boss' 100 per cent-owned Honeymoon project in South Australia, where production is also forecasted to ramp up to 2.45Mlbs a year.

Boss Managing Director's Perspective

Boss Managing Director Duncan Craib expressed, 'The start of production at the Alta Mesa Project is another key milestone in the implementation of our strategy to be a global uranium supplier with a diversified production base in tier-one locations. With operations now ramping up at both Honeymoon and Alta Mesa, we are on track to hit our combined nameplate production target of 3Mlbs of uranium per annum. Our timing could hardly be better given the increasingly tight supply and demand fundamentals in the uranium market.' Craib also highlighted the favorable outlook underpinned by US President Joe Biden's recent legislation to ban the importation of uranium products from Russia, emphasizing the significant opportunity for uranium projects in North America and Australia.

Summary of Boss Energy's Production Milestone

Boss Energy has achieved a significant milestone with the commencement of production at its Alta Mesa uranium project in South Texas, adding to its existing production at the Honeymoon project in South Australia. The company's strategy to be a global uranium supplier with a diversified production base in tier-one locations is well underway, with a combined nameplate production target of 3Mlbs of uranium per annum. The favorable outlook in the uranium market, supported by recent legislative developments, positions Boss Energy to capitalize on the growing opportunity. With production forecasted to ramp up at both Honeymoon and Alta Mesa, Boss Energy is poised to leverage the tight supply and demand fundamentals in the uranium market, further solidifying its position as a key player in the industry.