Boab Metals (BML) Corporate presentation summary

Corporate overview and financial position

• ASX-listed developer and explorer focused on base and precious metals, advancing toward a final investment decision on Sorby Hills.

• Market capitalization of A$35 million with A$4.4 million cash and no debt as of September 2024.

• Top 20 shareholders hold 36% of issued capital; an at-the-market facility of A$4.8 million is available.

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

Sorby Hills project highlights

• Located in Western Australia, 50km from Kununurra and 150km from port, with existing infrastructure.

• High-quality resource: 47.3Mt at 3.1% Pb, 0.4% Zn, and 35g/t Ag, totaling 1.5Mt lead and 53Moz silver.

• Production target of 18.3Mt, underpinned by 83% reserves, with significant exploration upside.

• Conventional open pit mining and flotation process, producing high-grade lead-silver concentrate.

• FEED study completed June 2024, with process plant design and updated EPC pricing.

Project economics and sensitivities

• Pre-production capex of A$264 million, 75% underpinned by tendered pricing.

• C1 cash cost of US$0.36/lb payable lead, including net silver credit.

• Average annual production: 103kt lead-silver concentrate, 64kt lead, 2.0Moz silver over 8.5 years.

• NPV (8%) of A$411 million, IRR 37%, and A$1.1 billion operating cash flow.

• Project NPV highly sensitive to silver price movements, with current spot NPV at A$523 million.