- Boss Resources (ASX:BOE) announced a resource upgrade at their Honeymoon Uranium Project of 27.6 Mlbs U3O8 at a grade of 820ppm.
- The increase comes less than two months since Boss acquired the Honeymoon Project, which is one of only four uranium projects in Australia to be fully permitted for uranium mining.
- We increased our valuation from $0.14 to $0.17 per share. This was driven by increasing our mine life assumption (15Mlbs – 54% resource conversion). However we see further upside potential if production was increased in the future (1.8Mlbs production – $0.31 per share valuation).
News: Video: Resource upgrade signals increased production potential
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