City Investors Circle – Initiating coverage Boab Metals
Boab is a lead mine with silver and zinc credits, located in the East Kimberley region of Western Australia.
The share structure is tight, capex required is low, and their is competition from offtakers to take the entire production from the mine.
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| Boab Metals | ASX: BML |
| Stage | Exploration + development |
| Metals | Lead, silver, zinc |
| Market Cap | A$72m @ 47.5c |
| Location | East Kimberley, W. Australia |
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Comment.
I never thought I would see investing in a lead mine attractive, but Boab look interesting given the low risk the company appear to represent.
Having such a heavy portfolio bias towards precious metals has left me looking for some base metal additions to add some diversity.
I like Boab because they have offtakers queueing up to take their quality concentrate, have an open pit project with low costs, in a tier 1 country. They also have some decent silver grades, and now, have a small zinc discovery that they’re looking to expand.
Even at the conservative numbers used in their PFS, project payback is around 18 months.
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City Investors Circle – Initiating coverage Boab Metals
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Boab is a lead mine with silver and zinc credits, located in the East Kimberley region of Western Australia.
The share structure is tight, capex required is low, and their is competition from offtakers to take the entire production from the mine.
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Boab Metals Highlights
Tight share structure
Funded to production decision (Q2 2022)
10 year LOM, extendable
High grade lead concentrate
Offtake partners competing for product for LOM
Production decision Q2 2022
Sorby Hills Project
Boab own 75% of the project, China based Henan Yuguang Gold Lead Co. Ltd. owns 25%.
Henan Yuguang is China’s largest lead smelting enterprise and largest silver producer.
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To read the most recent corporate presentation for Boab Metals, please click here
Boab Metals corporate website, please click HERE
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