Boab Metals jumps 10% on option for full control of Western Australia project

Boab Metals

23/09/2024 04:51

** Shares of Boab Metals  BML.AX  rise as much as 9.9% to
A$0.095, their highest level since Sept. 13
    ** Diversified miner says executed an option agreement with
JV partner Henan Yuguang Gold & Lead  600531.SS  to acquire a
25% interest in the Sorby Hills lead-silver-zinc project in
Western Australia
    ** BML to secure 100% interest in project if option is
exercised over the next 12 months
    ** Co will pay Henan Yuguang aggregate consideration of A$23
mln ($15.70 mln) in three tranches
    ** Exercise of option subject to BML reaching a final
investment decision on the project within the next 12 months
    ** Stock down 43.64% YTD, including current session's moves


($1 = 1.4648 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))