Boab moves to full ownership of Sorby Hills, eyes H2 2027 production
ASX-listed Boab Metals has exercised its option to acquire 100% of the Sorby Hills silver/lead project in Western Australia, taking full control of a resource containing 18.6-million ounces of silver and 575 000 tonnes of lead.
The acquisition, from joint venture partner Yuguang, involves a completion payment of A$12.5-million, with deferred payments of A$5.5-million and A$5.0-million due 12 and 18 months after the start of concentrate production, which Boab is targeting for the second half of 2027.
Boab MD Simon Noon said the deal gives the company full rights to sell the forecast 897 000 t of concentrate and exposes shareholders to the increasing operating margins supported by a silver price that has more than doubled since Boab’s FEED study.
“The completion of this transaction positions Boab to fully leverage the Sorby Hills project’s potential and aligns with our strategy of progressing high-quality, fully funded projects to production,” Noon said.
The company confirmed that funds raised during the quarter accounted for the completion payment and full project capital expenditure, meaning the project remains fully funded without requiring additional financing.
The move follows seven years of joint venture development with Yuguang, which Noon acknowledged as crucial in bringing the project to a final investment decision. Completion of the acquisition is expected in January 2026, ahead of the planned ramp-up to first production in H2 2027.
Sorby Hills is located in the mineral-rich Kimberley region of Western Australia and represents one of Boab’s flagship assets, offering long-term exposure to both silver and lead markets.
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