Boab Metals Ltd - Quarterly Report - September 2020
Boab Metals Ltd (ASX:BML)

Quarterly Report - September 2020

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Highlights

What's happened?

Pacifico Minerals Ltd (ASX:PMY, "Pacifico") has released their September 2020 quarterly report.

What are the key highlights?

  1. Release of the Optimised Pre-Feasibility Study, which produced a Pre-tax NPV (8% discount) of A$303 million, IRR of 46% and payback period of ~1.6 years.
  2. Ore Reserve Statement confirmed a total 13.6Mt at 3.6% Pb and 40 g/t Ag of Proved and Probable Reserves underpinning 92% of the PFS Mine Plan.
  3. Completion of a A$10 million Placement with strong support by quality institutional and strategic shareholders.
  4. Commencement of Sorby Hills Definitive Feasibility Study (‘DFS’) drilling campaign comprising 5,200 m across a planned 68 holes.
  5. Significant project financing milestone achieved with Sorby Hills progressing to the Due Diligence Stage of the Northern Australia Infrastructure Facility (‘NAIF’) funding assessment process.

Managing Director's Summary

Simon Noon

“The results of the PFS have confirmed the economic attractiveness of Sorby Hills and given us confidence to launch immediately into the DFS work streams. The capital raising has significantly strengthened the Company’s balance sheet and sees the Company fully funded to the point at which a Decision to Mine can be made on the Project. With a very high quality PFS completed, the commencement of a 5,200m DFS and Resource expansion drill program, and substantial progress being made on our financing strategy in the form of confirmed support from NAIF, it is very exciting times for the Company."

Simon Noon
Managing Director, Boab Metals Ltd
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