Insights

The Boss Energy (ASX:BOE) share price is up 16% today. Here’s why

The Boss Energy (ASX: BOE) share price is gaining from news the company has all the necessary permits to start producing uranium in Australia.
The post The Boss Energy (ASX:BOE) share price is up 16% today. Here’s why appeared first on The Motley Fool Australia. –

rising Boral share price asx share price represented by investor in hard had looking excitedly at mobile phone

Shares in Boss Energy Ltd (ASX: BOE) are gaining today after news the company has all the permits it needs to start producing uranium in Australia. At the time of writing, the Boss Energy share price is rocketing 16.13% higher than yesterday’s closing price, trading at 18 cents.

Let’s take a closer look at the mineral exploration company’s announcement.

Production permission

Boss Energy shares are surging after the company announced positive results from its review of the permits required to produce uranium in South Australia.

The company has found it already holds all the necessary permits to get its Honeymoon project up and running, including those needed to up its nameplate production to 2.45 million pounds per year.

State and federal government approval has been received for Boss Energy to mine, process, store, transport, and export uranium. This means it’s one step closer to becoming Australia’s next uranium producer.

The review also found the company’s planned IX expansion and process modifications – aimed at reducing the project’s costs – can be combined with existing state and federal approvals.

Boss Energy has received Honeymoon’s mineral lease, EPA licences, and an approved transport management plan from the South Australian Government to move uranium oxide concentrate from the project to port. 

It also has the federal permits needed to possess nuclear material and to ensure the security of uranium oxide concentrate, as well as recently renewed federal export permissions.

Boss Energy also shared it has recently signed agreements to purchase 1.25 million pounds of uranium oxide concentrate. It says this will enhance the project’s financial position, increase flexibility in its funding and negotiations, and protect the project’s commissioning phase.

Commentary from management

Boss Energy managing director Duncan Craib commented on the company’s news, saying:

The soon-to-be-completed [enhanced feasibility study] will provide a roadmap to re-commissioning with simple modifications… Combined with a significant uranium stockpile locked in at attractive prices and all the required approvals and permits for near term production in place, Boss is well on track to be Australia’s next uranium producer.

Boss Energy share price snapshot

Following this morning’s news, Boss Energy shares have hit a new, 52-week high.

The Boss Energy share price is now up 80% year to date. It’s also 157% higher than it was this time last year.

The company has a market capitalisation of around $353 million, with approximately 2.2 billion shares outstanding.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Brooke Cooper 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.

The post The Boss Energy (ASX:BOE) share price is up 16% today. Here’s why appeared first on The Motley Fool Australia.

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!