Boab Metals (BML) H2 2024 earnings summary

Executive summary

• Advanced Sorby Hills Lead-Silver Project with completion of Front-End Engineering & Design (FEED) Study, improving project economics and derisking execution.

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

• Ongoing offtake negotiations, project financing efforts, and environmental approvals to support a Final Investment Decision (FID) in FY25.

Financial highlights

• Operating loss after tax for FY24 was $3.32M, an improvement from $5.92M in FY23.

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

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

• Basic loss per share improved to 1.80 cents (FY23: 3.58 cents).

Outlook and guidance

• Targeting a fully funded FID for Sorby Hills in the next 12 months.

• Plans to finalize offtake agreements, secure project financing, and commence construction in FY25.

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