The rising spot price of uranium has resulted in a $21.83 million book profit for Boss Energy. Climbing uranium prices have generated a windfall for aspiring producer Boss Energy (ASX: BOE) , which aims to capitalise on its strengthened position in project funding and offtake negotiations.
The company has been forging ahead with restart plans at its Honeymoon uranium mine in South Australia in a bid to take advantage of the growing uranium market.
In an announcement today, Boss noted the spot price of uranium has risen from US$32.40 per pound in July to more than US$50/lb. The current spot price on Tuesday was US$41.25/lb, which exceeds the all-in cost of US$31.90/lb that the company forecast in June.
The price increase has resulted in Boss’ 1.25-million-pound uranium oxide inventory having a spot market value of US$51.56 million (A$71.52 million). Since Boss paid US$37.68 million (A$49.69 million) for this inventory in March, this […]
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