BOAB METALS LIMITED (BML)
Share Price Analysis and Chart

30/10/2026

1

Buy

$1.45

400.00%

Shaw and Partners maintains its Buy rating for Boab Metals with its target price decreased to $1.45 from $1.70 following the release of the Sorby Hills Project Delivery Plan.

The updated plan extends the anticipated mine life to 10.5 years and upgrades the ore reserve to 18.3m tonnes at 37.3g/t silver and 3.2% lead, yielding a 15% increase in contained silver alongside a 10% rise in contained lead.

Pre-production capital cost estimates fell slightly to -$262m, while the fully funded silver-lead project remains on schedule for initial concentrate production in the September quarter of 2027.

The analyst models a more conservative ramp-up profile for the operation and applies a lower silver price forecast reflecting a recent pullback in spot markets.

Shaw considers the asset an advanced, robust project offering rare exposure to a large silver resource with strong cash flow generation potential.

FORECAST
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -2.00 cents.
Shaw and Partners forecasts a full year FY28 dividend of 0.00 cents and EPS of 15.20 cents.