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Boab Metals (ASX:BML) is on target to capitalise on strong silver and lead market fundamentals with construction at the Sorby Hills project in Western Australia now sitting ahead of schedule.
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On the back of the board’s positive final investment decision (FID) in late CY25, the silver-lead project is advancing toward first production in the second half of CY27.
That will see the project become one of Australia’s largest silver producers, expected to produce an average of 2.2 million ounces per annum.
Boab Metals moved to 100% ownership of Sorby Hills just recently, in late January, when it completed the acquisition of Yuguang’s interest in the project. With an active construction and development program now well underway, the company has already completed the mine-site camp pad and the first level of the processing plant and non-process infrastructure pads.
Other early works activities are on schedule for completion in early April CY26, while construction of the main access road is in progress.
Boab’s chief and managing director, Simon Noon, said a number of key contracts have now been signed, including the dismantling, relocation and rebuild of the DeGrussa processing plant at Sorby Hills.
“It is very encouraging to see construction activities progressing ahead of schedule at Sorby Hills,’ Mr Noon told shareholders.
He added: “With early works nearing completion and major earthworks set to commence shortly, the project is continuing to build strong momentum as we move toward full-scale construction.”
Other activities underway include the refurbishment of existing camp infrastructure and engineering and planning for the process plant relocation.
Fully funded, the 100%-owned Sorby Hills project is located some 50 kilometres from Kununurra, with majority access to existing sealed roads for transporting concentrate 150 kilometres to Wyndham port.
BML is up +2.46%, to 62.5c. Mkt cap $351.5M.
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