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Boab Metals Ltd
(Sydney:BML)
Boab Metals Ltd (BML) vs. iShares MSCI Australia ETF (EWA)
Boab Metals Ltd Business Overview & Revenue Model
Boab Metals Ltd Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 174.31K | 174.31K | 136.10K | 201.75K | 160.66K | 122.44K |
| Gross Profit | 174.31K | 174.31K | 136.10K | 201.75K | 160.66K | 122.44K |
| EBITDA | -3.81M | -3.81M | -3.31M | -5.89M | -6.72M | -5.40M |
| Net Income | -3.84M | -3.84M | -3.32M | -5.92M | -6.80M | -5.04M |
Balance Sheet | ||||||
| Total Assets | 16.54M | 16.54M | 12.76M | 11.63M | 11.67M | 18.66M |
| Cash, Cash Equivalents and Short-Term Investments | 7.53M | 7.53M | 5.66M | 4.58M | 6.32M | 12.90M |
| Total Debt | 35.07K | 35.07K | 112.71K | 30.50K | 100.19K | 45.53K |
| Total Liabilities | 748.07K | 748.07K | 667.47K | 1.23M | 1.09M | 1.68M |
| Stockholders Equity | 15.79M | 15.79M | 12.09M | 10.39M | 10.58M | 16.98M |
Cash Flow | ||||||
| Free Cash Flow | -3.84M | -3.84M | -3.67M | -7.02M | -6.53M | -4.60M |
| Operating Cash Flow | -3.83M | -3.83M | -3.66M | -5.38M | -6.49M | -4.55M |
| Investing Cash Flow | -513.24K | -513.24K | -2.70K | -1.64M | -24.27K | 148.40K |
| Financing Cash Flow | 6.21M | 6.21M | 4.75M | 5.27M | -65.92K | 14.39M |
Boab Metals Ltd Technical Analysis
Boab Metals Ltd Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | €125.15M | -44.44 | -1.95% | ― | ― | 21.74% | |
48 Neutral | AU$102.52M | -22.86 | -210.98% | ― | ― | ― | |
46 Neutral | AU$339.81M | -38.96 | -27.55% | ― | -71.00% | 9.44% | |
46 Neutral | AU$85.59M | -62.50 | -7.13% | ― | ― | 33.33% | |
45 Neutral | AU$69.04M | -8.41 | -116.65% | ― | ― | -11.33% | |
43 Neutral | AU$41.44M | -6.89 | -13.86% | ― | ― | -12.34% |
Boab Metals Ltd Corporate Events
Boab Metals has secured over A$350 million in debt and equity funding and completed the acquisition of the remaining 25% of its Sorby Hills silver-lead-zinc project, enabling the board to make a Final Investment Decision and advance the operation to construction with early site works already under way and first production targeted for the second half of 2027. The funding package, supported by institutional investors and a strongly oversubscribed share purchase plan, together with a clean, non-dilutive project finance facility, positions Boab as a fully funded emerging producer whose projected cash flows are highly leveraged to the recent surge in silver prices, potentially enhancing returns for shareholders and strengthening its competitive standing in the Australian base and precious metals sector.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.56 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals has acquired Yuguang (Australia) Pty Ltd’s remaining 25% interest in the Sorby Hills Silver-Lead-Zinc Project for an upfront payment of A$12.5 million and deferred consideration of A$10.5 million tied to future production, lifting its ownership of the project to 100%. Full ownership gives Boab rights to all forecast production of 897,000 tonnes of concentrate containing 18.6 million ounces of silver and 575,000 tonnes of lead and, combined with the recent Final Investment Decision and more than A$350 million in project funding, consolidates its transition into a base and precious metals producer while maximising shareholder exposure to higher margins amid a substantially stronger silver price than assumed in earlier studies.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.56 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has confirmed that all resolutions presented at its 23 January 2026 General Meeting of Shareholders in Perth were passed on a poll, reflecting solid investor support for the company’s recent capital management initiatives. Shareholders ratified the prior issue of Tranche 1 shares under ASX Listing Rules 7.1 and 7.1A and approved the issue of Tranche 2 shares, cementing the company’s ability to proceed with its planned equity funding and maintaining compliance with listing rule placement capacity requirements, which collectively underpins Boab Metals’ capital structure and financial flexibility.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.57 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has disclosed a change in the indirect shareholding of Managing Director and director Simon Noon, in compliance with ASX listing rule 3.19A.2. Through the Noon A/C, of which he is a beneficiary, Noon acquired 31,339 fully paid ordinary shares at $0.40 per share on 14 January 2026, with no securities disposed; the transaction modestly increases his equity stake and further aligns his interests with those of shareholders while maintaining transparency over director-related dealings.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.57 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has disclosed a change in the indirect security holdings of director Gary Comb, as required under ASX listing rules. Through Bluedale Pty Ltd
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.57 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has applied for quotation on the ASX of 17,499,964 new fully paid ordinary shares under its BML ticker, with the securities issued on 14 January 2026. The move increases the company’s quoted capital base and reflects the formal listing of shares previously flagged to the market, potentially enhancing liquidity for existing investors and supporting Boab Metals’ ongoing funding and corporate activities.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals has completed an oversubscribed Share Purchase Plan, raising A$7 million after receiving applications totalling about A$17 million and closing the offer early due to strong shareholder demand. Together with recent equity raisings and a substantial senior debt facility, the company now has access to roughly A$350 million, providing full funding certainty for the development and construction of its Sorby Hills Silver-Lead Project through to first production in the second half of 2027, strengthening its balance sheet, eliminating the need for further equity for project development, and marking its transition toward near-term producer status.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has updated details of its proposed securities issue, advising the market that it has revised the closing date for its Share Purchase Plan (SPP) and the corresponding share issue date. The update, lodged as an amendment to its earlier Appendix 3B filing from December 2025, confirms that the capital-raising initiatives, including the SPP and other placements, remain underway, signalling the company’s continuing efforts to secure funding and maintain compliance with ASX disclosure requirements for investors and other stakeholders.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals has announced that its shareholder Share Purchase Plan, opened on 18 December 2025, has been oversubscribed and will therefore close earlier than originally scheduled, now set for 5:00 pm AWST on 7 January 2026. The company said the accelerated closure is intended to minimise the scale-back of applications, with new fully paid ordinary shares under the plan expected to be issued and quoted on the ASX in mid-January, and thanked investors for their support as it moves into its next stage of development as a silver-lead producer.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals has capped a pivotal year by approving the Final Investment Decision for its Sorby Hills Silver-Lead Project, marking its transition from a developer to a project delivery organisation. During 2025, the company reduced forecast capital costs through engineering and optimisation, secured key approvals, acquired the DeGrussa process plant to cut capex and execution risk, and moved to full ownership of Sorby Hills, while locking in both equity and debt funding to underpin construction and target first concentrate production in the second half of 2027 amid supportive silver market conditions.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has called a general meeting of shareholders to be held in Perth on 23 January 2026, setting a record date of 21 January 2026 for voting eligibility and urging investors to lodge proxy forms if they cannot attend in person. The key business of the meeting is to ratify previous issuances of Tranche 1 shares under ASX Listing Rules 7.1 and 7.1A and to seek approval for the issue of up to 48,942,892 Tranche 2 shares, decisions that will affect the company’s capital structure and potentially its capacity to raise funds and pursue corporate or project initiatives.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has called a General Meeting of shareholders to be held in person in Perth on 23 January 2026, and has outlined how investors can access the Notice of Meeting and related documents electronically in line with updated Corporations Act provisions. The company is shifting away from default hard-copy mailouts, instead directing shareholders to its website, ASX announcements and share registry portal, while strongly encouraging the use of online or proxy voting, signalling a continued move toward digital governance and streamlined investor engagement processes.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has completed the first tranche of a capital raising, issuing 101,057,108 fully paid ordinary shares at $0.40 per share to professional, sophisticated and institutional investors, raising $40.4 million before costs under its ASX Listing Rule 7.1 and 7.1A placement capacity. The company has confirmed that the shares were issued without a prospectus under the Corporations Act disclosure exemptions and that it remains compliant with its continuous disclosure and financial reporting obligations, signalling regulatory adherence and providing additional funding flexibility for its ongoing operations and growth plans.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Ltd has applied to the ASX for quotation of 101,057,108 new fully paid ordinary shares under the code BML, with an issue date of 19 December 2025. The move significantly increases the company’s quoted share base, indicating a substantial capital or transaction-related step that may affect ownership structure and market liquidity for existing and prospective shareholders.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has disclosed a change in the relevant interests of Managing Director and Director Simon Noon, who holds his indirect interest through the Noon A/C. Prior to the change, Noon held fully paid ordinary shares directly and indirectly, along with a series of B and C Class director performance rights, and on 18 December 2025 he was granted 5,225,807 additional zero-priced MD and director performance rights with various vesting conditions, extending his overall portfolio of A, B, C, D, E and F Class performance rights out to expiry dates in 2027 and 2030, thereby further aligning his remuneration with the company’s long-term performance and shareholder outcomes.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has updated the market on a change in the interests of director Richard Monti, in line with ASX disclosure requirements. The company reported that Monti has been issued 1.5 million zero-priced director performance rights across new D, E and F class tranches, with various vesting conditions and expiries out to 2030, following shareholder approval at the 25 November 2025 AGM. His existing shareholding and earlier tranches of performance rights remain unchanged, indicating this move is part of the company’s ongoing equity-based remuneration structure for directors rather than a change in his ordinary share position.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals has announced a change in director Gary Comb’s relevant interest in the company’s securities, disclosing that he has been issued 2,000,000 zero-priced director performance rights through his indirect holding vehicle, Bluedale Pty Ltd
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has notified the market of the issue of 10,225,807 unquoted performance rights under its employee incentive scheme, which are not intended to be quoted on the ASX. The new equity awards, effective 18 December 2025, increase the company’s pool of employee-based securities and are likely aimed at aligning staff incentives with shareholder interests and supporting retention and performance as the company advances its strategic and operational objectives.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals has exercised its option to acquire Yuguang (Australia) Pty Ltd’s 25% stake in the Sorby Hills Silver-Lead Project in Western Australia, giving it full ownership of the asset for an upfront payment of A$12.5 million plus deferred payments of A$10.5 million after production begins. With all recent capital raisings structured on a 100%-ownership basis and project capex already funded, the company says Sorby Hills remains fully financed through to first concentrate production, targeted for the second half of 2027, giving Boab full control over marketing an estimated 897,000 tonnes of concentrate and greater leverage to higher silver prices, which management notes are now more than double the level assumed in earlier project studies.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Ltd has announced the opening of its Share Purchase Plan (SPP), allowing eligible shareholders in Australia and New Zealand to purchase up to A$30,000 worth of new ordinary shares at A$0.40 each, identical to the price offered under the recently announced placement aiming to raise up to A$60 million. The SPP, with a goal of raising up to A$7 million, offers shareholders an optional and transaction-cost-free investment opportunity, with final allocation decisions at the Board’s discretion, signaling the company’s strategic financial positioning and commitment to shareholder inclusivity.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has made a Final Investment Decision for the Sorby Hills Silver-Lead Project, marking a significant milestone in its transition from a developer to a producer. The project is fully funded with A$110 million raised from equity markets and a A$236 million project finance debt facility. This decision enables Boab to rapidly advance project development activities, with first production targeted for the second half of 2027. The company aims to capitalize on favorable silver and lead market conditions while focusing on capital discipline and execution certainty. The project is expected to deliver sustainable value for shareholders and economic benefits for the East Kimberley community.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Ltd has announced a proposed issue of securities, including a securities purchase plan and a placement, totaling up to 167.5 million ordinary fully paid shares. This move is aimed at raising capital to support the company’s growth and operational strategies. The issuance is expected to impact the company by providing additional financial resources, potentially enhancing its market position and offering value to stakeholders.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Ltd has successfully secured firm commitments to raise up to A$60 million through a two-tranche institutional placement, alongside launching a Share Purchase Plan to raise an additional A$7 million. This capital raising, combined with existing cash and a recent A$236 million debt facility, ensures full funding for the Sorby Hills Project to reach its first production phase. The improved offtake terms and the elimination of the Trafigura Prepayment Facility highlight the project’s strengthened financial position. The company anticipates making a Final Investment Decision soon, marking a significant step in its strategic development and offering potential value to stakeholders.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has requested a trading halt on its securities pending an announcement concerning a capital raising. The halt is expected to last until either the commencement of normal trading on December 15, 2025, or the release of the announcement. This move indicates a significant financial maneuver by the company, potentially impacting its market position and stakeholder interests.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.42 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Ltd has announced significant cost savings and a reduced timeline for the Sorby Hills Lead-Silver Project, with a minimum A$20 million reduction in capital costs for the processing plant and an additional A$5 million saved on early works. These savings, alongside a secured A$236 million debt facility, position the company favorably for a final investment decision, enhancing the project’s economic viability amidst ongoing construction inflation challenges.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.42 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has announced that Villiers Queensland Pty Limited, as Trustee for the Paul Brosnan Trust, has ceased to be a substantial holder in the company as of December 4, 2025. This change in substantial holding could impact the company’s shareholder structure and influence its market positioning, potentially affecting stakeholder interests.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.51 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has successfully raised approximately $44.99 million through the issuance of 112,484,559 fully paid ordinary shares to professional, sophisticated, and institutional investors at $0.40 per share. This capital raising, approved at the company’s recent AGM, strengthens Boab Metals’ financial position and supports its strategic initiatives, potentially enhancing its market presence and operational capabilities.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.51 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has secured a binding commitment for a A$236 million debt facility from Merricks Capital and Davidson Kempner to fund the development of its Sorby Hills Project in Western Australia. This clean debt structure, which avoids shareholder dilution, marks a significant milestone for the company, enabling it to proceed with project execution activities and maintain full exposure to potential silver price increases. The company plans to make a Final Investment Decision in Q4 2025, with the first drawdown of the facility expected in the second half of 2026, indicating a strategic step forward in its project timeline.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Ltd announced that all resolutions proposed at its Annual General Meeting were successfully passed. This outcome reflects positively on the company’s governance and strategic direction, potentially strengthening its position in the mining industry and providing reassurance to stakeholders about its future plans.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Limited has retracted its forecast financial information related to the Sorby Hills Project, specifically concerning the impact of spot prices for lead, silver, and other factors on the project’s net present value (NPV) and internal rate of return (IRR). The company advises shareholders not to rely on these forward-looking statements, indicating a cautious approach to financial projections and market communications.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.
Boab Metals Ltd presented its 2025 Annual General Meeting, emphasizing its status as a near-term producer with operations closely tied to silver price movements. The company’s recent studies, including the Sorby Hills Definitive Feasibility Study and FEED Study, underpin its production targets and financial forecasts, reinforcing its strategic positioning in the mining sector.
The most recent analyst rating on (AU:BML) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Boab Metals Ltd stock, see the AU:BML Stock Forecast page.