Boss Energy Ltd (ASX:BOE) saw its stock price surge by 6.19% during Tuesday's trading session, as investors reacted positively to news of increased uranium extraction at the company's joint venture project in Texas.
According to a filing on the Australian Securities Exchange, Boss Energy's partner enCore Energy reported a significant boost in uranium capture at the Texas Alta Mesa central processing plant. Between March 6 and March 31, the project extracted 50,000 pounds of uranium, with Boss Energy entitled to 30% of this production as its own inventory.
The report highlighted that the average daily capture rate for the last 26 days of March exceeded 1,900 pounds of uranium per day, marking the highest rate since the plant resumed operations in June 2024. This improved performance has accelerated enCore's contract delivery requirements from August to May, potentially leading to faster revenue realization for Boss Energy. The market's enthusiastic response to this operational update underscores the growing investor interest in uranium producers amid global efforts to transition to cleaner energy sources.
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