- Boab Metals receives approvals for an amendment to its existing EPA approvals.
- The approvals pave the way for commencing Site Establishment and Early Works at its Sorby Hill Lead-Silver Project.
- BML to commence the competitive tendering process for related construction packages soon.
- Shares of BML surged nearly 6% on Friday and closed at AU$0.18 on the back of the approval news.
Boab Metals Limited (ASX:BML) has received the green light for the commencement of Site Establishment and Early Works at its flagship Sorby Hill Lead-Silver Project in Western Australia. The Company in its latest update announced that the Environmental Protection Agency (EPA) of WA had approved amendments to Boab’s existing EPA approval.
The regulatory approval was a prerequisite to commence early works on the project and hence represents a major milestone for the project development.
Shares of BML jumped nearly 6% on the ASX and closed at AU$0.18 apiece on Friday. The Company has a market capitalisation of AU$26.09 million as of 1 July 2022.
BML is progressing it’s Definitive Feasibility Study (DFS) of the project and has adopted a strategy to seek multi-stream approvals related to regulatory requirements to derisk the project and save time.
Site Establishment and Early Works will include the construction of basic infrastructure required to support further development works.
Work under the amended EPA will include stablishing all-weather access to the project site location and developing materials laydown and hardstand area. This will aid the construction of the related infrastructure and expanded processing plant.
Data source: Company update, 1 July 2022
The WA EPA provided its first approval for early works back in 2014. The current changes in approvals were made under Section 45C (1) of the Environmental Protection Act and are primarily related to the expansion of permitted development areas. The amendment will allow –
The approval paves the path for securing the final approval under the Biodiversity Conservation Act 2016. It will also aid the Western Australian Mining Industry Regulatory Safety Authority (DMIRS) to finalise its assessment of ‘Mining Proposals’ related to the Site Establishment and Early Works. The Company expects it will receive the final approval in coming weeks.
BML will now move ahead with the tendering process to advance with awarding contracts related to construction works associated with the Site Establishment and Early Works.