Join our daily newsletter At The Bell to receive exclusive market insights
Boab Metals’ (ASX:BML) plan to acquire full ownership of the Sorby Hills Project has been delayed to the end of the year, with the Australian explorer today agreeing to extend the option with Henan Yuguang out to December.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Both parties agreed to the extension to allow Boab time to complete key workstreams before a Final Investment Decision is then made in Q4 2025.
The option, which was originally inked on September 23, 2024, had a 12-month expiry date baked into the paperwork and had to be re-upped; Henan Yuguang, which is handing over its minority stake in the lead-silver project once everything wraps up, was happy to give Boab the time to sort things out.
The Oz company has already made progress on several fronts, including executing a binding offtake contract with global trader Trafigura and locking in a US$30 million prepayment term sheet late last year.
Boab also signed a purchase agreement with Sandfire Resources (ASX:SFR) for the DeGrussa processing plant; it will now be moved to Sorby Hills.
And, the $62M precious metals explorer recently locked down key state and federal environmental approvals under the EPBC Act.
“Boab is now focused on its discussions with potential project financiers and in the process of securing the regulatory approvals that, together, will permit a final investment decision and the exercising of the option to acquire 100% of the project,” the company wrote in its September 8 release this morning.
Any further updates will be shared “in due course,” the company added.
BML heads into Monday selling at 22.5 cents a share.
Join the discussion: See what HotCopper users are saying about Boab Metals Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
