Boss Resources Announces Completion Of Uranium Re-Start Assessment

Metals & Mining company, Boss Resources Limited (ASX: BOE) announced the completion of the Phase 1 Re-start Assessment including a detailed review of the existing Drying and Packing facility at its 100%-owned Honeymoon Uranium Project in South Australia. The assessment confirmed an assumption made in the 2017 Prefeasibility Study to remain valid which included a schedule to restart production and envisaged costs.

A group of Australian engineers and specialists completed the re-start assessment with the focus on precipitation circuits, Solvent Extraction facility, and reviewing the capabilities and capacities of the existing Drying and Packing (D&P) circuit. Additionally, the program looked at the impact on the downstream process including the operating strategy and equipment selection by the newly proposed leach chemistry consisting of lower pH and high iron tenors.Â

BOE’s Managing Director Duncan Craib stated that Phase 1 of the Re-Start Strategy has provided satisfactory results and progress at Honeymoon Uranium Project. It has identified modifications to improve the circuit and increase the efficiency of the whole process as suggested through its solvent extraction and precipitation assessment. Further, the Drying and Packing circuit work also recognized the changes required to the existing yellowcake drying and packing facility to enhance the operability of the plant. It is further looking upon enhancing the ramp-up of plant capacity of 2 Mlbs p.a. U3O8 equivalent. The assessment also considers the future expanded production rate of 3.2 Mlb/annum U3O8 equivalent.

Boss Resources' Honeymoon Re-Start Strategy: As per the release, the re-start strategy has been categorized into 3 key phases, wherein phase 1 is expected to report this quarter, phase 2 has commenced and expected to be released in Quarter 3 of the year 2019, and phase 3 is expected to be followed in later months of the year.

In phase 1, the final input data required for the Definitive Feasibility Study will be generated including the drilling program to deliver the indicated and measured resource. The optimization program will be providing process improvements and cost savings along with a planning schedule for the re-start of the existing solvent extraction plant.

In phase 2, results from the Phase 1 studies will be used for DFS engineering works; process, engineering design and cost estimation.

In phase 3, a detail execution plan will be covered along with the operational readiness inclusive of the solvent extraction plant recommissioning plan. The preceding process will be done in conjunction with the detailed design of the ion exchange plant.

Along with the current work, BOE has been involved in the testwork as part of the optimization program. Based on re-start studies, future programs have been recommended which are model alternative calcium management strategies on bleed volumes; further solvent extraction testwork to define max loading configurations; SX kinetic studies; and simplification of the scrubbing process and chemistry. The further proposed work has included studies on Yellowcake storage facilities along with the review of Jameson Cell location and barren liquor solution settling pond modifications.

On stock information, Boss Resources’ share last traded at $0.054, down 3.571% during intra-day. The market capitalization of Boss Resources Limited stood at around $88.73 Mn as of March 19, 2019.


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