Insights

Here’s why the Boss Energy (ASX:BOE) share price is busting 4% higher today

We look at what’s boosting the uranium developer’s stock on Wednesday.
The post Here’s why the Boss Energy (ASX:BOE) share price is busting 4% higher today appeared first on The Motley Fool Australia. –

The Boss Energy Ltd (ASX: BOE) share price is surging upwards today on the back of news of its Honeymoon uranium project.

The company is continuing to make progress towards re-starting uranium production at the project which has been out of action since 2013.

At the time of writing, the Boss Energy share price is $2.46, 3.8% higher than its previous close.

Let’s take a closer look at today’s news from the minerals exploration company.

Boss Energy share price surges on project update

Wednesday is a good day on the ASX for the Boss Energy share price. It’s taking off after the company announced it’s more than halfway with the Honeymoon project’s front end engineering design.

The company’s getting the project ready so it can hit the go button as soon as it’s commercially feasible.

Honeymoon’s previous owners stopped commissioning the project in 2013 during a period of low uranium prices. However, the price of the commodity has surged in recent months.

The project’s front end engineering design is set to be completed in the first quarter of 2022. That will allow detailed design work to begin as soon as a final investment decision is made.

Boss Energy managing director Duncan Craib said making sure the project is ready to hit the ground running will allow the company to “capitalise on a rising uranium price at the moment of our choosing”.

The company has also nearly finished piping and instrumentation diagrams for the project. It has already organised Honeymoon’s power supply and optimised its wellfields.

The Honeymoon project’s global mineral resource currently stands at 71.6 million pounds with an average grade of 620 parts per million of uranium oxide, using a cut-off grade of 250 parts per million.

Right now, the Boss Energy share price is 215% higher than it was at the start of 2021. It has also gained 10.3% over the last 30 days.

The post Here’s why the Boss Energy (ASX:BOE) share price is busting 4% higher today appeared first on The Motley Fool Australia.

Should you invest $1,000 in Boss Energy right now?

Before you consider Boss Energy, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Boss Energy wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Is the Boss Energy (ASX:BOE) share price really up 500% today?

Why ASX uranium shares are eyeing China’s US$450 billion energy plan

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!