Azzet reports on three stocks with price moving updates today.
Boss Energy slides on min resource update ~
Shares in Boss Energy (ASX: BOE) were trading 5.5% lower by 1:10 pm AEDT (2:10 am GMT), with the uranium miner’s otherwise positive announcement regarding increased mineral resources being caught up in today’s broader market energy sector selloff.
With the Iran war continuing to roil markets, the miner’s reported major increases in contained uranium for Gould’s Dam and Jason’s Deposit appear to have gone unnoticed.
It’s understood that the mineral resource estimate for Gould's Dam to 38.7Mt at 388ppm U3O8 for 33.1Mlbs of contained U3O8 represents a 30% increase in total contained uranium from the previous estimate.
The miner updated the mineral resource estimate for Jason's Deposit to 13.3Mt at 410ppm U3O8, for 12.0Mlbs of uranium, up 9% from the previous estimate.
Commenting on today’s update, Boss managing director Matthew Dusci told the market that further drilling programs are planned to commence in the second half of this calendar year to continue to extend both resources.
“The wide-spaced wellfield design being advanced as part of the New Feasibility Study at Honeymoon is also expected to be directly applicable to these satellite deposits. If successful, this approach has the potential to deliver a high conversion of resource to wellfield mining inventory through cost-efficient extraction,” he said.
“Early indications suggest that both deposits could be material production sources of uranium in the future, leveraging the existing infrastructure at the Honeymoon Operation.”
However, the timeframe from initial applications to the granting of a mining lease is expected to take up to 18 to 24 months, followed by a further six to 12 months for Program for Environment Protection and Rehabilitation approval.
Regardless of today’s broader energy market selloff, the miner’s shares were sold off late last year after the market reacted negatively to a major project review.
Also adding downward pressure to the share price is the sheer volume of short selling on the stock which now exceeds 10%.
Meanwhile, with spot prices have stabilised around the US$85/lb mark after punching past the US$100/lb mark earlier in 2026, sentiment within the uranium sector remains relatively positive.
Boss Energy has a market cap of $645 million; the share price is down 37% in one year and down 5% in the last month.
The stock’s shares appear to be in a near-term rally within a longer-term bearish trend.
The 200-day moving average is downward sloping and implies that there has been limited demand for this stock.
Consensus is Hold
Lynas slumps after updating on first production of samarium oxide
Shares in Lynas Rare Earths (ASX: LYC) were trading 1.6% lower despite the explorer/developer of rare earth minerals announcing the expansion of its heavy rare earth product range through the first production of samarium oxide at its Malaysian processing facility.
Today’s fall clearly has more to do with the stock being dragged down, along with the broader market, due to escalating tensions in the Middle East that are driving oil prices higher.
New output adds to its separated dysprosium and terbium products and marks the first milestone in the expansion of its heavy rare earth separation facility at Lynas Malaysia.
Samarium oxide is used in high-performance magnets for electronics and aerospace, as well as in optical, catalyst and medical applications.
Commenting on today’s update, Lynas managing director Amanda Lacaze told the market that the achievement of first Samarium oxide is a significant milestone for the miner.
“The addition of Samarium oxide means that we can provide an expanded suite of Light and Heavy Rare Earths that customers will use to produce high performance permanent magnets,” she said.
“This supports our objective of building diversified and resilient rare earth supply chains and is an exciting achievement in our Towards 2030 growth strategy.”
First announced last October, the expansion project has a first production forecast for April 2026.
Lynas said production had been achieved ahead of schedule. Processing capacity for additional heavy rare earth elements, including gadolinium, yttrium and lutetium, is expected to be progressively added over the next two years.
Today’s update follows the revelation on Monday that Lynas had signed a major U.S. rare earth supply deal with the U.S Department of War (DoW).
Under this arrangement, around US$96 million will be allocated by the DoW to the purchase of Light and Heavy Rare Earth oxide products from Lynas.
The floor price for the supply of NdPr oxide will be US$110/kg.
The proposed agreement covers deliveries over a four-year period.
Meanwhile, the miner’s quarterly report for the period ended 31 December 2025 was generally viewed as operationally challenging but financially robust.
While production fell significantly due to power and maintenance issues, the miner capitalised on a sharp rise in rare earth prices to deliver record revenue growth.
Lynas Rare Earths has a market cap of $20 billion; the share price is up 160% in one year and up 28% in the last month.
The stock appears to be in a long-term uptrend, confirmed by multiple indicators.
Consensus is Hold.
QX Resources soars after updating on high-grade supergene
Ironically, while the market snubbed its nose at Boss Energy’s update today, it got excited when mineral explorer/developer QX Resources (ASX: QXR) confirmed high-grade supergene uranium mineralisation at its Madaba Uranium Project in Tanzania.
QX Resources is a microcap stock focused on the exploration and development of critical minerals necessary for the clean energy transition, which beyond uranium, include lithium, gold, molybdenum, and copper.
It’s understood that the Madaba project within the Luwegu Basin of southern Tanzania is around 250km from the Nyota uranium deposit that has a resource of 125Mlb uranium.
Today’s market update revealed exceptional uranium grades at surface across multiple prospects.
The share price was up 25% following revelations that standout trench sampling results include 1.60% U3O8 over 1 meter at the Sita Prospect, including a notable 7.25% U3O8 over 0.1 meter.
Other significant results include 0.30% U3O8 over 2.1 meters at the Duo Prospect, 0.16% U3O8 over 0.2 meters at the Tatu Prospect, and 4.25% U3O8 over 0.2 meters at the Wyzed Prospect.
A total of 36 historical trenches have been identified across the Madaba project area.
Commenting on today’s update, executive chairman Maurice Feilich told the market that the continued digitisation of historical exploration data is revealing the significant uranium potential of the Madaba Project.
“Historical trenching has confirmed the presence of high-grade uranium mineralisation at surface across multiple prospects, many of which remain completely untested by drilling,” he said.
“Combined with the stacked uranium mineralisation identified in historical drilling, this work is defining a number of compelling exploration targets and reinforces the potential for Madaba to represent a significant uranium system within the Luwegu Basin.”
Together with recently reported drilling data, nine immediate drill targets have now been identified across the project.
The miner is planning field verification and an airborne radiometric survey in Q2, followed by first-pass drilling of priority targets in Q3.
Maiden drilling is expected to rapidly unlock both shallow high-grade and deeper stacked potential ahead of a maiden JORC Inferred Resource.
QX Resources has a market cap of $10 million; the share price is up 29% in one year and up 25% in the last month.
The stock appears to be in a long-term uptrend, confirmed by multiple indicators.
Consensus does not cover this stock.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.



