Boss Energy Ltd (ASX: BOE) has reported the achievement of its revised production and cost guidance for the 2026 financial year at the Honeymoon project in South Australia. The company produced 1.41 million pounds of uranium oxide during the period, marking a significant recovery in output as operational conditions stabilized. The final quarter of the fiscal year saw a sharp rebound in performance, with 362,000 pounds produced—a 79% increase over the 200,000 pounds recorded in the preceding quarter.

The company’s ability to hit these targets follows a period of logistical challenges in the region. Operational management highlighted that the June quarter represented a strong finish to the year despite environmental hurdles.

"While the heavy rainfall in South Australia significantly disrupted site access and the delivery of essential reagents, the team's response demonstrated the resilience of our operation."

"Despite FY26 being a capital-intensive year, we increased our cash position by approximately $13 million and grew our drummed uranium inventory by 172klbs through operating activities."

— Matthew Dusci, Managing Director/ CEO

Cost performance improved notably as the operation moved past the disruptions of the third quarter. C1 cash costs, which reached $60 per pound in the third quarter, were reduced to $45 per pound in the final quarter of the year. Similarly, all-in sustaining costs saw a reduction from $93 per pound in the third quarter to $70 per pound in the final quarter. Boss concluded the fiscal year with a robust balance sheet, holding $207.3 million in cash and liquid assets, which the company intends to use to fund the ongoing transition toward a wide-spaced wellfield design.

Operational progress during the quarter included the commissioning of key infrastructure, such as the East Kalkaroo trunkline and additional NIMCIX columns, which bolstered processing efficiency. These installations, combined with the initiation of the B6 production wellfield, have provided management with increased confidence in the site’s technical configuration. The company has since accelerated its technical studies, aiming to finalize an updated Life-of-Mine plan.

Looking ahead, the company is preparing for a significant news cycle in the coming weeks. The delivery of a new feasibility study for the project is targeted for the end of August 2026. This release will coincide with the announcement of production guidance for the 2027 financial year, providing a clearer roadmap for the project’s immediate trajectory.

To further communicate these long-term development plans to investors, the company has scheduled an Investor Day for September 2026. This event is expected to detail the ramp-up strategy for the Honeymoon operation and outline the broader development path, including the potential integration of satellite deposits at Gould’s Dam and Jasons. Additionally, the company will undergo a leadership transition, with Peter Botten set to assume the role of Chair on September 30, 2026, while current Chair Wyatt Buck remains on the board as a non-executive director.

Read the full announcement: Quarterly Activities Report - June 2026