Boab Metals (ASX:BML) said that fully funded construction is underway at the Sorby Hills silver-lead project in Western Australia and that first concentrate production is scheduled for the second half of 2027, according to a Thursday Australian bourse filing.
The firm plans to complete the transaction to take 100% ownership of the project following the exercise of its option to acquire Yuguang's 25% interest.
It plans to complete the purchase of the DeGrussa processing plant from Sandfire Resources (ASX:SFR) and then execute a contract to dismantle, relocate, and rebuild the plant at Sorby Hills. It also plans to undertake a targeted drilling program across Sorby Hills and its adjoining landholdings in the onshore Bonaparte Gulf Basin to support near-term production ramp-up.