Boab Metals has extended the option period with Henan Yuguang to acquire a 100% interest in the Sorby Hills project in Western Australia. Boab Metals currently owns 75% of the project, with the remaining 25% held by Henan Yuguang. The extension allows for necessary workstreams to be completed before the final investment decision in Q4 2025. Significant progress has been made, including securing a binding offtake contract and $30m prepayment terms with Trafigura. The project aims for an initial production rate of 1.5 million tonnes per annum, expanding to 2.25mtpa after one year. Boab Metals is focused on securing financing and regulatory approvals for the project’s advancement.

Read more at Yahoo Finance: Boab Metals extends option period for 100% acquisition of Sorby Hills project