Boab Metals (BML) H2 2025 earnings summary

Executive summary

• Advanced toward Final Investment Decision (FID) for the Sorby Hills Lead-Silver-Zinc Project, with key milestones achieved including FEED Study completion, option to acquire 100% project ownership, and major regulatory approvals.

• Entered binding offtake and prepayment agreement with Trafigura for 75% of concentrate output, securing a US$30M prepayment facility.

• Acquired DeGrussa Processing Plant, reducing capital requirements and de-risking project execution.

• Raised A$6M via placement and A$680,000 through ATM facility to support ongoing activities.

Financial highlights

• Operating loss after income tax of $3,840,535 for FY2025, compared to $3,321,974 in FY2024.

• Revenue for the year was $174,312, down from $237,784 in the prior year.

• Cash reserves increased to $7,528,528 as of 30 June 2025, up from $5,663,582 a year earlier.

• Basic loss per share improved to (1.63) cents from (1.80) cents year-over-year.

• Share capital increased to $65,798,625 following new share issues.

Outlook and guidance

• FID for Sorby Hills targeted for H2 2025, with construction to follow upon securing full project funding.

• Silver prices are currently 50% higher than FEED Study assumptions, enhancing project economics.

• Positive discussions ongoing with multiple financiers to secure full project funding.