Shaw and Partners was pleased to be appointed as Lead Manager and Bookrunner to the capital raising by Boab Metals Limited (ASX:BML).

The Company raised A$6 million by way of a Single Tranche Placement of new ordinary fully paid shares issued at A$0.16. The offer price of $0.16 per share reflected a 11.1% discount to the last traded price on 11 June 2025 of $0.18, 14.0% discount to the 5-day VWAP of $0.186, 8.7% discount to the 15-day VWAP of $0.175.

Proceeds of the capital raise will be used to advance pre-development expenditure, partially refurbish the workers camp, project finance costs and early site establishment works. The capital raise will also free up existing cash reserves to support additional drilling, including follow-up exploration at the Keep Target—underscoring Boab’s commitment to unlocking further resource potential at Sorby Hills.

The offer was available to Australian Sophisticated and Professional Investors only. This offer was available to Wholesale investors only (as that term is defined in the Corporations Act).

Shaw and Partners Limited acted as Lead Manager for Boab Metals Limited in relation to the offer and received fees for that service.

Congratulations to Simon Noon and the broader Boab Metals Limited team on a successful capital raise.