Uranium shares have been among the stronger performers on the ASX this year…
The post Up 29% this week, the Boss Energy (ASX:BOE) share price is soaring again appeared first on The Motley Fool Australia. –
The Boss Energy Ltd (ASX: BOE) share price is charging higher again today. Shares are currently trading at 22 cents, up 10% from yesterday’s closing price.
Below we take a look at what’s driving ASX investor interest in the uranium explorer.
What’s driving ASX investor interest?
There is no news out of the company today. However, the Boss Energy share price closed up more than 8% yesterday after the explorer reported on its plans to launch a seismic reflection program at its Honeymoon Uranium Project, located in South Australia.
Seismic surveying isn’t commonly used in the exploration of shallow minerals. Historically it’s been more the realm for crude oil exploration. But Boss says it will enable faster drilling, lower the environmental impact, and cut exploration costs.
Boss intends to survey 2 promising zones it previously identified in a drilling program with the intent to grow its uranium inventory.
With no new releases out of the company, it appears investor sentiment is still buoyed by the pending rollout of the modern seismic reflection system, and perhaps the fairly bullish outlook for uranium in a world looking to rapidly ween itself off fossil fuels.
Boss Energy share price snapshot
The Boss Energy share price has been a stellar performer in 2021, up 110%. That compares to a gain of 12% on the All Ordinaries Index (ASX: XAO).
Over the past month, Boss shares have gained 29%.
Should you invest $1,000 in Boss Energy right now?
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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.