Consultant GR Engineering's work on optimizing the IX process has suggested US$6.3 million can be saved on the original capex cost estimate of $63.2 million because heating the solution isn't required in the elution of uranium from the ion exchange resin.

That means an upgrade to the power transmission line to Honeymoon won't have to happen.

Operating costs are also reduced because of the lower electricity required, falling an estimated $1.22 per pound.

Further work on "NPV accretive technical advancements" are continuing as Boss aims to further show Honeymoon's potential to be one of the lowest cost uranium producers globally.

Honeymoon's NPV was put at about A$240 million in the feasibility work completed early this year.

Meanwhile, Boss is also continuing offtake and commercial discussions and has started work on the potential for a third stage expansion to 3 million lbs per annum.

Honeymoon operated briefly a decade ago but was shuttered after the uranium price collapsed.

Boss started the current quarter with about $3.8 million cash.

Shares in Boss were trading this week at 7.3c, capitalising the company at $125 million.

The stock was at similar levels 12 months ago.