Boab Metals Limited: Summary of Quarterly Activities and Cash Flow

Boab Metals Limited (ASX: BML) has released its Quarterly Activities and Cash Flow Report, covering the period ending 30 June 2023. The report showcases the company's continued progress towards a Decision to mine at its Sorby Hills Lead-Silver-Zinc Project in Western Australia. Key achievements include finalizing Project Design Criteria, Process Flow Diagrams, and an optimized Plant Layout in collaboration with GR Engineering Services (GRES), the preferred EPC Contractor.

The Mining Schedule was re-optimized, and a Tailings Strategy Update was implemented to enhance cash flows in the initial production years. Contract Packages were rationalized to achieve cost-saving synergies. The Phase VII drill program commenced, focusing on mine life extensions and improved metallurgical recoveries. Approval work streams are advancing, and Construction Financing and off-take arrangements continue to make headway. Boab Metals reported a cash balance of approximately AU$4.6 million as of 30 June 2023, demonstrating a stable financial position.

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