Boab Metals (ASX:BML) is taking the Sorby Hills Silver-Lead Project from development into construction and execution, with the explorer confirming a quick-paced Final Investment Decision for the Western Australian project today.
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The FID was approved by the board today, following Boba wrapping up technical, commercial, permitting, and financing works these last months.
“The approval of the Final Investment Decision marks a defining milestone for Boab,” said Simon Noon, the company’s CEO and managing director, adding it reflects the many years of tech work, commercial exploration, and financing.
The leap into the “defining milestone” was also helped by the explorer scooping up $110 million in equity capital markets. Boab also netted a binding commitment for another $236 million through a finance debt facility.
“With the project fully funded to first production, Boab is transitioning from a developer to an emerging base and precious metals producer,” Mr Noon said.
“This positions the company to capitalise on supportive silver and lead market fundamentals, while maintaining a clear focus on execution.”
With the FID in place, Boab expects a very quick ramp-up in development. Early works have already started at the East Kimberley project, including preparations for camp installation and bulk earthworks. Regulatory approvals under fifth-part works are also expected to return through CY26’s first quarter.
Key construction milestones coming early in 2026 for Boab include the dismantling of the DeGrussa processing plant (scheduled for March) and reconstruction. Pre-strip mining, commissioning, and ramp-up will then follow.
“Our immediate priority is the safe and efficient delivery of early works, followed by the award of key construction and mining contracts,” Mr Noon declared. “We remain committed to building a long-life, low-risk operation that delivers sustainable value… and generates lasting economic and social benefits.”
BML have been down -1.24% this morning, to 40cps.
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