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Boss Energy Fixed the Quarter. It Has Not Fixed the Mine Plan.
Boss hit its revised FY2026 guidance, completed important infrastructure and avoided another capital raise. But the June recovery still does not prove that its redesigned wellfields can deliver reliable production and good returns.
Boss Energy finished FY2026 with a much better quarter at Honeymoon.
Drummed uranium production jumped 79% from the rain-hit March quarter to 362,152 pounds. NIMCIX Columns 4 and 5 were commissioned, the B6 wellfield started producing and the East Kalkaroo trunkline was completed.
Management deserves credit for that.
After the weak March quarter and the April guidance cut, Boss delivered most of what it said it would.
But investors should not forget what came before.
Boss originally guided to around 1.6 million pounds of FY2026 production. It ended up producing 1.407 million pounds, near the bottom of its revised range of 1.40 million to 1.45 million pounds.
The June quarter followed the same pattern.
Boss produced 362,152 pounds against guidance of 356,000 to 406,000 pounds. That is…
