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Boab Metals Limited (ASX:BML)

ALERT: Price-sensitive ASX Announcement for BML
Current share price for BML : $0.305 -0.095 (-23.75%)+
Announcement
Release
28 Sep 2026 8:25AM
Price at Release
$0.400
Full Release
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Summary
Boab Metals Limited announced it has executed a binding Heads of Agreement with RE:GROUP Australia Pty Ltd for mining services at its 100%-owned Sorby Hills Silver-Lead Project in the Kimberley region of Western Australia, establishing binding commercial and operational terms including scope, pricing, mine planning, production requirements and commencement dates; site establishment is scheduled to begin on 15 January 2027 and mining services no later than 1 March 2027, with the definitive Mining Services Contract substantially complete and targeted for execution within two weeks, providing greater certainty as the fully funded project advances toward construction and operations. The announcement also notes that, following more than A$350 million raised in debt and equity and a final investment decision in Q4 2025, Boab has received all required approvals, completed early works, is progressing key infrastructure and plant relocation activities, is targeting first silver-lead concentrate production in H2 2027, and expects to release a Project Delivery Plan this quarter with updated economics and an enhanced Ore Reserve reflecting optimisation work and the potential inclusion of additional mineralisation supported by stronger silver prices.
Key Points
  • Boab executed a binding Heads of Agreement with RE:GROUP Australia Pty Ltd for mining services at the Sorby Hills Silver-Lead Project.
  • The agreement covers binding key terms including scope of services, pricing, mine planning, production requirements and commencement dates.
  • Site establishment works are scheduled to commence on 15 January 2027.
  • Mining services are scheduled to commence no later than 1 March 2027.
  • The definitive Mining Services Contract is substantially complete and targeted for execution within two weeks of the HOA.
  • Sorby Hills is 100% owned by Boab and is located in the Kimberley region of Western Australia.
  • Boab has raised more than A$350 million in debt and equity and made a final investment decision in Q4 2025.
  • All approvals to commence mining and construction have been received and early works have been completed.
  • GR Engineering Services has been contracted to relocate and reassemble the DeGrussa Processing Plant at Sorby Hills.
  • First silver-lead concentrate production from Sorby Hills is scheduled for H2 2027.
  • Boab expects to release a Project Delivery Plan during the current quarter with updated project economics and an enhanced Ore Reserve.
  • Technical work has identified the opportunity to add additional mineralisation to the mine plan and extend mine life.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.