Boab Metals (ASX:BML) agreed with joint venture partner and China-based lead smelting firm Henan Yuguang Gold Lead to extend their 12-month option agreement signed last September to Dec. 31, according to a Monday filing with the Australian bourse.

The company had agreed with the China-based lead smelting firm to acquire a 25% interest in the project in which it already has a 75% interest.

Shares of the company fell past 4% in recent Monday trade and earlier hit their highest since April 2023.