Monsters of Rock: Big Boss gears up for Honeymoon project restart as uranium price soars
Link copied to
Spot prices are around US$49/lb today and are rapidly closing in on that magical number — $US60/lb. Thats when many of the next crop of producers will become viable.
Boss Energy (ASX:BOE) is now moving to finalise key aspects of the design and final equipment selection, which will lead into a Final Investment Decision (FID) for the Honeymoon uranium project in South Australia.
“We are making project preparations on several fronts to ensure we can capitalise on the rapidly turning uranium market at the moment of our choosing,” CEO Duncan Craib said.
“We are already the most advanced of all the non-producing Australian uranium projects, with a production plant and key infrastructure in place.
“By making these preparations now, we are ensuring Boss is on track to be Australia’s next uranium producer.”
How hot is lithium right now? The Rhyolite Ridge lithium-boron project looks set to advance into production, with $1.15bn market cap ioneer (ASX:INR) today signing a joint venture agreement with Sibanye Stillwater Limited.
Sibanye-Stillwater will invest $490 million for 50% interest in the project.
INR executive chairman James Calaway said Sibanye- Stillwater has a track record of developing and operating major mining projects.
“With a strong strategic partner in place, we can now look to finalise the debt financing for the project and move towards construction,” he said.
INR has also provided Sibanye-Stillwater the option to participate in 50% of the ‘North Basin’ – if they decide to contribute up to an additional US$50 million.
The company has also entered into a subscription agreement with Sibanye- Stillwater for a US$70 placement of 145.9 million shares at A$0.655.
The market did not like the news, sending INR down a substantial 18% for the day.
Vulcan Energy (ASX:VUL), ust completed a A$200 million placement to help fund its zero carbon lithium ambitions.
The company said the placement was backed by Hancock Prospecting and several ESG focused investors.
“We are now well positioned to pursue the targeted acquisition and upgrade of existing brownfield energy and brine infrastructure, to de-risk and grow our development plans, as well as to increase our production pipeline from our existing license areas,” Vulcan managing director and CEO Dr. Francis Wedin said.
“This also allows us to complete the targeted acquisition and refurbishment of exploration equipment which will assist with executing on our project development in a timely manner.”
Vulcan is also planning a share purchase plan at A$13.50 per share – the same price as the placement.
The company is targeting phase 1 production for CY2024.