Boab Metals Director Gary Comb Converts 1,000,000 "F" Class Performance Rights Following Sorby Hills Mine Life Extension

Aditi Sarkar

05 November 2026 03:14 PM AEDT

Boab Metals Director Gary Comb Converts 1,000,000

Image Source: Krish Capital Pty Ltd

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Boab Metals Limited (ASX:BML) has disclosed that director Gary Comb converted 1,000,000 "F" Class Performance Rights into ordinary shares on 2 November 2026, following the achievement of a milestone linked to the Sorby Hills Project, according to a Change of Director's Interest Notice lodged with the ASX.

Key Points

Director Gary Comb converted 1,000,000 "F" Class Performance Rights to ordinary shares on 2 November 2026 at nil consideration.
The conversion was triggered by Boab Metals announcing a two-year extension to the mine life of the Sorby Hills Project, as disclosed in the company's "Sorby Hills Project Delivery Plan" release of 29 September 2026.
Following the change, Bluedale Pty Ltd <The Comb Family Account> holds 1,600,000 ordinary shares, up from 600,000 prior to the conversion.
The "F" Class Performance Rights no longer appear in Gary Comb's holdings after the conversion; remaining performance rights include "C", "D", and "E" Class tranches held via Bluedale Pty Ltd <Comb Super Fund Account>.

Milestone-Linked Conversion of "F" Class Performance Rights

According to the filing, the nature of the change was the conversion of 1,000,000 "F" Class Performance Rights to ordinary securities upon the achievement of a specified milestone. The milestone was Boab Metals announcing that the mine life of the Sorby Hills Project had been extended by two years, as detailed in the company's release titled "Sorby Hills Project Delivery Plan" dated 29 September 2026. The securities were acquired at nil consideration and no securities were disposed of in conjunction with the transaction. The date of the previous director's interest notice for Gary Comb was 3 February 2025.

Post-Change Securities Holdings of Gary Comb

Following the conversion, Gary Comb's indirect interests via Bluedale Pty Ltd are held across three accounts. Bluedale Pty Ltd <Comb Super Fund Account> holds 518,761 ordinary shares. Bluedale Pty Ltd <Comb Super Fund A/C> holds 314,287 ordinary shares. Bluedale Pty Ltd <The Comb Family Account> now holds 1,600,000 ordinary shares, reflecting the addition of the 1,000,000 converted shares. Remaining performance rights held via the Comb Super Fund Account include 800,000 "C" Class rights expiring 24 October 2027, 500,000 "D" Class rights expiring 17 December 2030, and 500,000 "E" Class rights expiring 17 December 2030, all with nil exercise price.

Nature of Indirect Interest and Registered Holder

The filing states that Gary Comb's interest is indirect in nature. The registered holder of the securities is Bluedale Pty Ltd, with Gary Comb disclosed as a beneficiary of Bluedale Pty Ltd <The Comb Family Account>. Prior to the change, the Comb Family Account held 600,000 ordinary shares. The filing confirms no interests in contracts were changed, and the transaction did not occur during a closed period requiring prior written clearance. Part 2 and Part 3 of the notice record all relevant fields as not applicable.

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