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Boab Metals Obtains AU$236 Million Syndicated Facility to Finance Western Australia Project; Shares Up 5%

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Boab Metals (ASX:BML) entered a full form syndicated facility agreement for AU$236 million equivalent of debt facilities to finance the development of its Sorby Hills silver-lead project in Western Australia, according to a Monday filing with the Australian bourse.

The agreement, arranged by Merricks Capital and Davidson Kempner Capital Management, splits the debt facilities equally between Australian dollar tranches of AU$118 million and US dollar tranches of $84.4 million, per the filing.

The company said it expects to make the first drawdown on the facility in the third quarter.

It added that Sorby Hills is on track for first concentrate production in the second half of 2027.

Shares of Boab Metals gained about 5% in recent Monday trade.

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