Name of the Project
Honeymoon uranium restart project.

Location
South Australia.

Project Owner/s
ASX-listed Boss Resources.

Project Description
The feasibility study has positioned Honeymoon as one of the world’s most advanced uranium development projects that can be fast-tracked to restart production in 12 months, with low capital intensity, to seize an anticipated rally in the uranium market.

The feasibility study base case has been limited to the restart area only, which comprises Joint Ore Reserves Committee-compliant resources of 36-million pounds.

The project will be completed in stages.

Stage 1 involves refurbishing the existing solvent-extraction plant, which has a nameplate capacity of 880 000 lb/y uranium equivalent.

This involves recommissioning the recently operated plant, inclusive of several key low-cost modifications to rectify the processing issues encountered by the previous owners, Uranium One Australia.

The yellowcake drying facility will be upgraded from the existing dryers to high-temperature kilns producing a calcined uranium product, which has greater market appeal.

Stage 2 is an expansion strategy that will increase production to two-million pounds a year of uranium equivalent and involves the construction of a new ion-exchange circuit. The expansion will also include additional processing infrastructure required to handle increased pregnant leach solution flow rates, and a new water treatment plant to manage increased calcium and sulphate levels in the leach liquors.

Stage 3 is not considered in this base case feasibility study, but is being investigated for the ramp-up of production capacity from two-million pounds a year of uranium equivalent to more than three-million pounds a year of uranium equivalent.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a base case pretax net present value of $163-million and an internal rate of return of 42.9%, with after-tax payback (after production starts) of 4.5 years.

Capital Expenditure
The project will require a capital investment of $63.2-million.

Planned Start/End Date
Not stated.

Latest Developments
Boss Resources has confirmed that all federal and state permits required to mine, process, store, transport and export uranium from the Honeymoon operation have been received, along with permits needed to increase the nameplate production capacity to 2.45-million pounds a year.

The soon-to-be-completed enhanced feasibility study on the Honeymoon project will provide a roadmap to recommissioning, with simplified modifications.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Boss Resources, tel +61 8 6143 6730 or email admin@bossresources.com.au.