URANIUM: Boss wants to restart Honeymoon uranium project

AUSTRALIA - Boss Resources says that a restart and expansion of its Honeymoon uranium project in south Australia is feasible. Following a feasibility study (FS) and based on a conservative uranium price, Boss believes that Honeymoon is positioned as one of the world’s most advanced uranium development projects that can be fast-tracked to re-start production in 12 months with low capital intensity. In a press release, the miner said that the goal is to seize an anticipated rally in the uranium market. Boss explained that the FS base case is limited to the Honeymoon restart area only, comprising a 36 million lb. JORC resource with a two-phased restart plan, most of which takes advantage of the existing infrastructure. The first stage comprises refurbishing the existing solvent extraction plant with significant process improvement, while the second stage implies adding an ion exchange circuit to achieve an annual production of 2 million lb. U3O8 equivalent. “Reflecting a conservative base case uranium price of $50 per lb. U308 over the life-of-mine, the FS demonstrates Honeymoon’s advanced development can rapidly respond to a market rally, given the low capital barrier,” Duncan Craib, Boss’ managing director, said in the media brief. This story originally appeared on www.Mining.com.