The Boss Energy Ltd (ASX: BOE) share price is in focus today after the company achieved a record production quarter, delivered full-year output and cost guidance, and strengthened its cash position.
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What did Boss Energy report?
- Q4 FY26 uranium production of 362,000 lbs U3O8, up 79% on Q3
- FY26 total production of 1.41 million lbs U3O8, up 61% on prior year
- FY26 C1 cost of $39/lb, AISC of $61/lb – both within guidance
- End-of-year cash and liquid assets of $207.3 million, up $13.1 million over FY26
- Average realised uranium sale price of $107/lb for the quarter
- Total capital expenditure for FY26: $66 million
What else do investors need to know?
The Honeymoon plant and wellfield ramp-up continued throughout the year, enabling strong production growth and the completion of key infrastructure, like new wellfields and processing columns. Boss's wide-spaced wellfield design is being accelerated, and a new feasibility study and updated JORC resource estimate are targeted for August 2026.
The company increased its uranium inventory by 172,000 lbs during FY26, reaching 1.58 million lbs on hand. Importantly, Boss remains under-contracted, providing potential exposure to higher uranium prices, which have increased 19% over the past year.
What did Boss Energy management say?
Boss Energy's CEO, Matthew Dusci, said:
The Company is in a strong financial position, with a balance sheet comprising $207 million in cash and liquid assets. Despite FY26 being a capital-intensive year, we increased our cash position by approximately $13 million and grew our drummed uranium inventory by 172klbs through operating activities. This demonstrates the underlying strength of the Honeymoon operation and positions us to continue generating positive operating cash flow ensuring that Boss can organically fund the transition to the wide-spaced wellfield design.
What's next for Boss Energy?
Boss Energy plans to deliver its new feasibility study and updated resource for Honeymoon by August 2026, with FY27 guidance to follow soon after. The transition to the wide-spaced wellfield design is expected to further optimise production and lower capital intensity.
Importantly, development at Gould's Dam and Jasons satellite deposits is being fast-tracked, leveraging existing Honeymoon infrastructure. An Investor Day is scheduled for September 2026 to share the detailed long-term growth strategy with shareholders and the market.
Boss Energy share price snapshot
The Boss Energy share price has been under significant pressure over the past 12 months and is down 35%. As a comparison, the All Ordinaries index is up 2% over the period.
