Boss Energy (ASX: BOE) is experiencing positive developments from its investment in the Alta Mesa uranium project in Texas. The Honeymoon project operator acquired a 30% stake in the in situ recovery uranium project from enCore Energy in February 2024. enCore’s latest update highlights continued progress towards achieving its targeted annualised production rate of 1.5 million pounds of uranium.
Due to improved uranium capture at the Alta Mesa Central Processing Plant, enCore has moved forward its August 2025 contract delivery requirements to May 2025. Despite a brief operational disruption caused by power failures during torrential rain, the project captured 50,000lb of uranium between March 6 and March 31. Boss Energy is entitled to 30% of this as unencumbered inventory. In late March, Alta Mesa achieved a record average daily capture rate exceeding 1,900lb of uranium, marking the highest production rate since operations resumed in June 2024. So far in 2025, Alta Mesa has delivered 290,000lb of uranium under its contracts with utility companies and is confident it can deliver a further 365,000lb through the rest of the year. Contributing to this success was the start-up of a second ion exchange (IX) circuit at the CPP in March, doubling the total flow capacity to 5,000 GPM. Currently, 21 drill rigs are operating within the project area, focusing on wellfield installation, development drilling, and exploration activities.
