Ann: Accommodation Camp Secured for Sorby Hills, page-3

I wondered about that buying that came in ona bad day.
Accommodation Camp secured for Sorby Hills
Boab Metals Limited (ASX: BML) (“Boab” or the “Company” is pleased to announce that a 178 room
Accommodation Camp has been secured for its 75% owned Sorby Hills Lead-Silver Project (“Sorby
Hills”, or the “Project” located in the Kimberley Region of Western Australia.
• 178 room Accommodation Camp acquired for a total purchase price of A$1.29 million,
staged in two tranches:
o A$259,000 deposit paid upfront; and
o A$1.04 million balance payable in Q4 2022.
• Accommodation Camp to be utilised throughout the project construction and
operational phases to house project employees and contractors.
• Accommodation Camp is currently located at the Cosmo Mine Site in Northern
Territory approximately 600 km from Sorby Hills, and comprises:
o 33 four-room buildings with ensuites with A/C, fittings, and furniture included;
o 23 two-room buildings with ensuites with A/C, fittings, and furniture included; and
o 4 laundry buildings.
• The acquisition represents a significant saving to the Project relative to a new camp
bought outright or via a lease finance arrangement.
Boab Managing Director and CEO, Simon Noon, stated:
“We are delighted to have taken advantage of this unique opportunity to secure existing
accommodation facilities at an extremely competitive price.
The acquisition represents a significant de-risking milestone and is consistent with our strategy to
progress project execution workstreams in parallel with finalising our Definitive Feasibility Study.
We look forward to relocating and preparing the facilities to accommodate the workforce that will
deliver and operate the Sorby Hills Project.”