Boss isn’t low grade, but I guess it’s all relative. BMN has a YUGE resource but they use a much lower cut off and as such most of their pounds are uneconomical.
If/When Boss get into production they will hit their higher grade stuff first. They have stated this.
Although the price is over US$50 for spot I still expect Boss is some time off securing off take.
Just my opinion but Cameco and Kazataprom will be able to fill their contracts first. Paladin will be next and then Boss. So that will all take time and supposedly utilities are still in no rush. Cameco were apparently offering utilities $46.50 on Friday, to the dismay of some heavy hitters.
I’d love to see some sort of small deal. Maybe 1-2 million pounds to be delivered by 2025. Price around $55. I’d imagine spot would need to be over $60 (yes I’m aware contracts historically signed 20% above spot, but it’s different this time).
The price of $55 would be because we’d need to be more competitive than the larger companies and probably as a result of Sashi Davies and her connections.
Times are moving fast. This could all happen this year.
Boss isn’t low grade, but I guess it’s all relative. BMN has a...
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