Boab Metals: Raises $5.5m to kickstart development at Sorby Hills, WA

Boab Metals Raises $5.5m to kickstart development at Sorby Hills, WA

• Boab Metals (BML) successfully raises $5.5 million to kickstart development of the Sorby Hills lead-silver-zinc project in Western Australia’s Kimberley region
• Approximately 19.6 million shares were issued via a placement at 28 cents a piece, a 13.8 per cent discount to the closing price of the company’s shares on November 23
• Funds will specifically go towards the planned front end engineering design and detailed design of the process plant and onsite early works commencement
• The company expects to deliver its DFS results in the next coming weeks and reach a final investment decision (FID) in H1 2023
• Shares in BoabMetals are down 4.62 per cent, trading at 31 cents at market close