Boss Energy (ASX:BOE) has dived hard through Monday trade today, with the much-followed energy stock losing as much as -42% in value after warning shareholders there may be “potential challenges” hitting nameplate capacity coming at its Honeymoon uranium project in South Australia.
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The company included the heads-up near the end of the third page in its four-page Honeymoon FY26 Guidance report shared to market today.
“Boss has identified potential challenges that may arise in achieving nameplate capacity, as previously outlined in the EFS,” the company wrote. “This is largely due to the potential for less continuity of mineralisation and leachability.”
Holders weren’t so happy about the news – and some specifically complained about the news being “buried” – and price followed sentiment through Monday.
By 3pm this arvo, Boss had settled at around $1.90 a share after the -44% drop.
Boss’s suggestion that it would now “keep the market informed” as it looked further into the assumptions did little to halt the deep-red buck-fifty slide.
Nor did the Australian uranium producer spruiking that Honeymoon would be “continuing its operational ramp-up during the year, having exceeded its first-year production and cost guidance of U3O8 drummed.”
Through the quarter, Boss produced 349,188 pounds of uranium (above guidance) and kept costs to a modest US$36/pound. The company still has $224 million in cash. Sales were relatively trim at around 100,000 pounds.
This brutal Week 31 decline now leaves BOE down -21.6% YTD.
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