Insights

Why the Boss Energy (ASX:BOE) share price is charging higher

The Boss Energy share price is gaining again in morning trade. We take a look at the ASX uranium miner’s latest quarterly report.
The post Why the Boss Energy (ASX:BOE) share price is charging higher appeared first on The Motley Fool Australia. –

A businessman points to and arrow going up on a graph, indicating a share price rise for an ASX company

The Boss Energy Ltd (ASX: BOE) share price is up 3.5% in morning trade after closing up more than 7% yesterday.

This comes after the ASX uranium miner released its quarterly activities report for the quarter ending 31 March.

What did Boss Energy report for the quarter?

The Boss Energy share price is moving higher after the company reported significant progress in completing the Enhanced Feasibility Study (EFS) at its Honeymoon uranium project in South Australia.

The aim of the EFS is to reduce costs and increase uranium production capacity at the project. Boss expects to release the results of the study in the June quarter. 

Commenting on the company’s progress during the quarter, Boss Energy’s Managing Director Duncan Craib said:

It was a highly productive quarter which saw us move into the final stages of preparation for the re-start of production at Honeymoon. The technical EFS is almost finished, project funding discussions are underway and interest from fuel buyers continues to increase.

The successful acquisition of 1.25 million pounds of uranium further strengthens Boss’ strategic and commercial advantages in respect to resuming production and capitalising on the forecast increase in uranium prices and our low costs, tier-1 location and extensive JORC Resource.

Total funding estimates for the Honeymoon project is US$63.2 million (AU$81.0 million). According to the release, that makes Honeymoon “one of the lowest funding requirements of any pre-production uranium project worldwide”. Boss credits the project’s existing full processing plant and infrastructure for the low cost of bringing the project online.

Boss is also engaged in an exploration campaign, including an initial scout drill program and has completed its review of Honeymoon’s historical database. It reported a strong balance sheet with no debt and “significant carried-forward tax losses”.

The company stated that the global outlook for nuclear power is improving while the uranium market continues to tighten.

Boss Energy share price snapshot

Boss Energy shareholders have enjoyed a profitable 12 months, with the ASX uranium miner gaining 114%. By comparison, the All Ordinaries Index (ASX: XAO) is up 31% in that same time.

Year-to-date, the Boss Energy share price has continued to perform well, up 50% so far in 2021.

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 Bernd Struben 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 Why the Boss Energy (ASX:BOE) share price is charging higher 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!