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.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
VISIT SHOWROOM
Stewarts & Lloyds is a leading steel, tube, and engineering product supplier in South Africa.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
