DeGrussa Process Plant Acquisition Completion

• Acquisition of DeGrussa Processing Plant finalized
• Plant relocation to Sorby Hills Project
• Enhances project timeline, reduces capital costs
• Total acquisition price of A$10.0M
• Extensive new spares included

Boab Metals Limited (ASX: BML) has successfully completed the acquisition of the DeGrussa Processing Plant from Sandfire Resources Limited (ASX: SFR), marking a significant milestone for its Sorby Hills Silver-Lead Project in Western Australia. The acquisition, which was subject to several conditions precedent, has now been fulfilled, and the transaction is set to complete in the coming days. The DeGrussa Processing Plant, which includes a primary crusher, ore storage bin, ball mill, SAG mill, flotation circuit, concentrate and tailings thickeners, will be dismantled and relocated to the Sorby Hills site. This move is expected to significantly enhance the project's execution and construction timeline by derisking equipment procurement and reducing upfront capital costs. The total acquisition price is A$10.0M, comprising an initial A$1.5M deposit, A$6.0M payable upon completion, and A$2.5M payable within 12 months of the sale of the first concentrate from Sorby Hills. The acquisition also includes an extensive list of new spares, ensuring the plant is well-equipped for the proposed flowsheet design and production rate at Sorby Hills.

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