Boss Resources has reached the second phase of its plan to restart the Honeymoon uranium project in South Australia.
Honeymoon was placed on care and maintenance by previous owner Uranium One in 2013.
Boss, in its latest quarterly report, stated that phase two of the restart would focus on completing a definitive feasibility study (DFS) for the mine using results gleaned from phase one studies.
The company expects to complete phase two of the restart by the third quarter of 2019, with the third and final phase to follow shortly after.
On completion of the third phase, Boss will focus on a staged restart of the project, encompassing upgrades to the existing solvent extraction (SX) plant and construction of a new ion exchange (IX) plant.
It plans to ramp up production from an initial two million pounds per annum in second stage to 3.2 million pounds per annum in stage three.
“On completion of the three-phase strategy, Boss will be in the position to proceed to mine, assuming a specified global uranium price has been achieved to satisfy the targeted (internal rate of return) and (net present value) return to shareholders,” the company stated.
“In-situ recovery (ISR) mining is a cost-effective and environmentally acceptable method accounting for 50 per cent of world uranium mined.”
The company received a new mineral export permission (MEP) from the Australian Government in the quarter, allowing it to export natural uranium from the project subject to certain environmental conditions.
This MEP confirms Honeymoon’s status as one of four fully permitted uranium mines in the country, and the third in South Australia alongside Heathgate’s Beverley/Four Mile project and BHP’s Olympic Dam.
The fourth is ERA’s Ranger mine in the Northern Territory, which is now winding down towards closure by 2026.