Boab Metals (ASX:BML) has exercised its option to acquire a 100% interest in the Sorby Hills Silver-Lead Project in Western Australia, purchasing the 25% stake held by joint venture partner Yuguang (Australia) for $12.5 million.
The acquisition gives Boab full rights to sell all of the project's forecast 897,000 tonnes of concentrate, containing an estimated 18.6 million ounces of silver and 575,000 tonnes of lead.
Boab Managing Director and CEO Simon Noon highlighted Yuguang's contribution over the past seven years, noting their support was key in bringing the project to a final investment decision.
Noon added that full ownership allows Boab to capture the full upside from rising silver prices and enhances shareholder exposure to potential operating margins.