Boab Metals (BML) H2 2024 earnings summary

Executive summary

• Advanced Sorby Hills Lead-Silver Project with completion of FEED Study, improving project economics and derisking execution.

• Option agreement to acquire JV partner's 25% interest, paving way for 100% project ownership.

• Focused on securing project financing, finalizing offtake agreements, and progressing environmental approvals.

Financial highlights

• Operating loss after tax of $3.32M for FY24, improved from $5.92M loss in FY23.

• Cash reserves increased to $5.66M at 30 June 2024 (FY23: $4.58M).

• Exploration expenditure was $1.77M (FY23: $4.19M), all expensed.

• No dividends declared or paid.

Outlook and guidance

• Targeting Final Investment Decision and commencement of construction at Sorby Hills in FY25.

• Ongoing negotiations with offtakers and financiers, with project able to support up to 60% gearing.

• Continued exploration and development activities, with flexibility to pursue new opportunities.