Highlights

  • Boab Metals advanced construction of its wholly owned Sorby Hills silver-lead project in Western Australia’s Kimberley region.
  • The updated ore reserve stands at 18.3 million tonnes grading 37.3 grams per tonne silver and 3.2% lead.
  • Boab acquired the former DeGrussa processing plant for relocation and reconstruction at Sorby Hills.
  • Boab raised AUD 117 million through Equity transactions and reached contractual close on an AUD 236 million syndicated Loan facility, with financial close and drawdown subject to remaining conditions.

Boab Metals (ASX:BML) is in focus on 2 November 2026 as investors assess recent company developments alongside a share price of AUD 0.31, up 6.90% for the session. The stock traded between AUD 0.285 and AUD 0.310, with an indicated Market Capitalisation of AUD 179.37 million and a one-year return of -18.42%. The operational and corporate developments below provide context for the company’s current activities without attributing the daily share movement to a particular announcement.

Sorby Hills Enters the Delivery Phase

Boab Metals advanced construction of its wholly owned Sorby Hills silver-lead project in Western Australia’s Kimberley region. Its September project delivery plan outlined a 10.5-year mine life and average annual production of approximately 2.1 million ounces of silver and 60,000 tonnes of lead. First concentrate production is targeted for the September quarter of 2027. The project is still under construction, so these production figures remain targets rather than realised output.

Updated Reserves and Project Economics

The updated ore reserve stands at 18.3 million tonnes grading 37.3 grams per tonne silver and 3.2% lead. Boab reported a life-of-mine production target of 22 million tonnes containing approximately 26 million ounces of silver and 690,000 tonnes of lead. The September delivery plan estimated total Capital Expenditure at AUD 262 million, with AUD 205 million remaining as at 1 September, including contingency. Its spot-price economic case indicated a pre-tax net present value of AUD 821 million, dependent on modelling assumptions.

Construction and Plant Relocation

Boab acquired the former DeGrussa processing plant for relocation and reconstruction at Sorby Hills. Early works were complete, site accommodation was operating and bulk earthworks were underway when the September delivery plan was published. Foundations for the relocated plant were being poured, while power, water and concentrate-handling packages progressed. The company reported that approximately AUD 56 million, or 21% of total capital expenditure, had been incurred. Fixed-price engineering and construction contracts cover substantial portions of the remaining work.

Funding and the Remaining Schedule

Boab raised AUD 117 million through equity transactions and reached contractual close on an AUD 236 million syndicated loan facility, with financial close and drawdown subject to remaining conditions. Its near-term priorities include satisfying those conditions, completing a definitive mining-services contract, relocating the processing plant and energising site power infrastructure. Mining was scheduled to commence by April 2027. These milestones are planned and remain exposed to execution, approvals, contractor performance and commissioning requirements.

Share Trading and Forward Outlook

At AUD 0.31, Boab Metals recorded a 6.90% session increase, while the reported one-year performance was -18.42%. The observed session high was AUD 0.310 and the low AUD 0.285. These market statistics describe the stated observation rather than a forecast. Upcoming activity will be shaped by the operational, funding and regulatory conditions described above; planned milestones should not be treated as completed outcomes.