Boab Metals (BML) Corporate presentation summary

Corporate overview and capital structure

• Market capitalization of A$36 million with a share price of A$0.155 and 233 million shares on issue as of December 2024.

• No debt and A$3.8 million in cash, plus a $4.8 million at-the-market facility available.

• Top 20 shareholders control 35% of issued capital; top five include Villiers Queensland PL and Zero Nominees.

• Board and management have a strong track record in mine development and operations.

Sorby Hills project highlights

• Located 50km from Kununurra, WA, with 47.3Mt resource at 4.3% PbEq, including 53Moz contained silver.

• Initial production target of 18.3Mt, underpinned by 83% reserves, with significant mine life extension potential.

• FEED Study completed June 2024: NPV A$411m, IRR 37%, 8.5-year mine life, and A$1.1bn operating cash flow.

• Project confirmed as a 1st quartile low-cost lead producer globally.

Recent achievements and milestones

• Completed Definitive Feasibility and FEED studies, improving project economics.

• Secured green power agreement, port access, and accommodation facility.

• Binding offtake and US$30M prepayment facility with Trafigura executed.

• Option to acquire 100% of Sorby Hills, with staged payments post-FID and first production.