Ann: Quarterly Activities Report, page-3

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    More good news for uranium bulls!

    �� Uranium (U₃O₈ – FY25 Summary from BHP (Copper SA/Olympic Dam)

    Total U₃O₈ production (FY25):
    3,154 tonnes, down 12% YoY from 3,603 tonnes in FY24.

    Q4 FY25 production:
    974 tonnes – the strongest quarter of the year.

    Key source:
    Olympic Dam, part of the Copper South Australia segment.

    Commentary:

    Production recovered strongly after a weather-related outage in Q2.

    BHP did not provide FY26 uranium-specific guidance but noted continued strong performance at Olympic Dam.

    No mention of expansion plans, sales agreements, or standalone uranium strategy — U₃O₈ is treated as a by-product of copper-gold operations.
 
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