Boss Energy Ltd (ASX: BOE) shares are on the move on Wednesday.
In morning trade, the ASX 200 uranium stock is up 2% to $4.57.
This leaves it just short of its 52-week high of $4.63.
Why is this ASX 200 uranium stock rising?
Investors have been buying this uranium producer's shares this morning after it revealed that a key milestone was achieved at the Honeymoon Uranium Operation in South Australia.
According to the release, the company has met its first-year production guidance of 850,000 lbs of U3O8 drummed at Honeymoon.
The company notes that its guidance for FY 2025 was achieved ahead of schedule on 17 June 2025.
It highlights for the June quarter to date, a total of 328,102lbs of U3O8 drummed have been produced. This represents an 11% increase from the previous quarter.
And while production will continue over the remainder of June, it will be limited due to the ASX 200 uranium stock's decision to undertake a short, planned maintenance program. It believes this will leave it well-prepared for the ongoing ramp-up in FY 2026.
Speaking of which, management advised that its production and cost guidance for FY 2026 will be published with its June quarterly report. This is currently scheduled for release on 28 July.
'A major achievement'
The ASX 200 uranium stock's managing director, Duncan Craib, was very pleased with the performance of the Honeymoon operation. He said:
We are extremely proud to have met production guidance in our first year of operating Honeymoon. This is a major achievement and is a testament to our talented and committed team. It also confirms that the changes we made to the processing circuit at Honeymoon, including the adoption of the ion exchange technology, have met or exceeded our expectations.
Craib also highlights that Boss Energy has delivered exactly what it said it would all the way back in 2021. He adds:
We have done exactly what we said we would do. Not once since announcing the Enhanced Feasibility Study in June 2021 have we revised Honeymoon's cost or production guidance. And we have increased production in every successive quarter.
We remain fully committed to delivering on our undertakings to the market and all stakeholders. This will in turn ensure we maximise our ability to grow production and cashflow and capitalise on the opportunities arising from the increasingly favourable demand-supply outlook for uranium.
Following today's move, this ASX 200 uranium stock is now 25% over the past month.
