Boab Metals Secures AU$6 Million to Propel Sorby Hills Project Toward Final Investment Decision.

Boab Metals Limited (ASX: BML) has successfully raised AU$6.0 million through an oversubscribed Placement to institutional, professional, and sophisticated investors. This capital injection will advance its 75%-owned Sorby Hills Lead-Silver-Zinc Project in Western Australia. The funds will support critical pre-development activities including early site works, workers camp refurbishment, and project finance costs. Importantly, it also strengthens Boab’s working capital position, enabling extended exploration efforts, particularly at the promising Keep Target.

The Placement consisted of approximately 37.5 million shares issued at AU$0.16 each, reflecting a discount to recent trading levels. The company’s strategic moves, including a key offtake agreement with Trafigura and the acquisition of the DeGrussa processing plant, position it well for a Final Investment Decision in 2025. Backed by strong investor confidence, Boab aims to accelerate its development timeline and unlock further resource potential at Sorby Hills.

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