Boab Metals targets 2027 WA project delivery
- Boab Metals updated its Sorby Hills delivery plan to extend mine life to 10.5 years.
- The company secured over $350 million in funding to carry the site through construction.
- Higher-value ore access and expanded reserves drive the targeted September quarter 2027 first production.
Boab Metals (ASX:BML) has released an updated plan for its Sorby Hills Silver-Lead Project in Western Australia, targeting first concentrate production in the September quarter of 2027.
The revised strategy extends the planned mine life from 8.5 years to 10.5 years while incorporating an updated mineral resource estimate of 50.6 million tonnes.
"Our focus is now firmly on safely delivering construction, maintaining discipline around cost and schedule, and preparing for commissioning and operations," said Boab Metals CEO Simon Noon.
The company stated that the project requires $205 million in remaining capital expenditure, which includes $17 million set aside for contingencies.
Boab Metals stated that the site is well positioned to become a long-life operation, though its share price remained unchanged at $0.39 following the announcement.
The developer previously secured more than $350 million in combined debt and equity financing to fully support the build.
Boab Metals has also executed a binding agreement with RE:GROUP Australia to begin site establishment on Jan. 15 ahead of formal mining operations.
