What’s happening with the Boss Energy (ASX:BOE) share price today?

Australia is home to some of the world’s richest uranium deposits.
The post What’s happening with the Boss Energy (ASX:BOE) share price today? appeared first on The Motley Fool Australia. –

The Boss Energy Ltd (ASX: BOE) share price leapt 8% higher in the early minutes of trade before giving back all those gains to fall 2% lower than it closed on Friday.

In mid-morning trading, Boss Energy’s share price is 2.22% in the red at 22 cents a share.

Below, we take a look at the latest announcement from the ASX uranium producer.

What did Boss report?

Boss Energy’s share price has been on a rollercoaster after the company reported the front-end engineering and design (FEED) process at its Honeymoon Project in South Australia is running ahead of schedule.

According to the release, this has “cemented its position as Australia’s most advanced emerging uranium producer”.

Boss said that the primary goals of the FEED process include:

Finalising key technical decisions
Producing foundation technical documents
Confirming product specifications
Refining budget and scope for the project

The company now forecasts it can finish the FEED work early in 2022 at which stage it can commence design work and order long-lead items.

Commenting on the progress, Boss Energy’s managing director Duncan Craib said:

We continue to extend our advantage as the most advanced emerging uranium producer in Australia. We have a plant on care and maintenance, other significant production and storage infrastructure in place, we have formed an Owner’s Team to restart Honeymoon and we are moving through the FEED stage rapidly.

Boss also noted that uranium is trading at 6-year highs of US$39.00 per pound. In March, Boss bought 1.25Mlbs of uranium for US$30.15/lb at a total cost of US$37.68 million. It said that at current spot prices, this inventory is now worth US$48.75 million.

Boss Energy share price snapshot

The Boss Energy share price is up a whopping 121% year-to-date. That compares to a gain of 12% posted by the All Ordinaries Index (ASX: XAO).

Over the past month, Boss Energy’s share price is up 28%.

The post What’s happening with the Boss Energy (ASX:BOE) share price 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

Guess which sector last week’s top performing ASX shares come from

ASX uranium shares are booming this week. Here’s why.

Up 29% this week, the Boss Energy (ASX:BOE) share price is soaring again
Why the Boss Energy (ASX:BOE) share price is soaring 6% today

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!