Uranium mining company Boss Energy has announced the restart of the Honeymoon uranium project, with the first wellfield complete, and related gypsum pond and water treatment plants nearing completion.
Now, the project has completed the construction of three start-up wellfields. This comprises of 86 drilled and cased new production wells and 31 recompletions of existing wells.
Boss Energy said the next stage is to run structured pumping tests, which will ensure the pump setpoints are correct, and that the wells are hydraulically connected to one another in the orebody.
Additionally, the installation of lining material for the 25,000 tonne gypsum pond is nearing completion for full operational use, and preparatory work to commence flushing the start-up wellfields is now underway.
These works being completed will ensure that the Honeymoon project remains on track for production in the December quarter of 2023.
Boss Energy managing director Duncan Craib said the Honeywell project’s development is proceeding to plan and remains on time and on budget as the company moves towards restarting it.
“Our timing is looking ideal, with the uranium market continuing to tighten and the spot price moving up,” Craib said.
“Boss remains fully funded through to production, with cash on hand of $103 million and a strategic uranium stockpile valued at $105 million based on current spot prices. The company has no long-term debt.”
Craib said the committed expenditure is now 77 per cent in total, or $81.5 million out of the budgeted approximate $105.4 million capital expenditure.