What Pacifico Minerals does

Boab Metals Limited (ASX: BML) is a Western Australian base and precious metals exploration and development company headquartered in Perth, focused on developing the Sorby Hills Silver-Lead Project in the East Kimberley region of Western Australia. The company owns 100% of Sorby Hills, 100% of the Manbarrum exploration prospect, and 100% of the Eight Mile Creek prospect, giving it full decision rights across its project portfolio. Sorby Hills, the core asset, is a near-surface, flat-lying silver-lead-zinc deposit located 50 km northeast of Kununurra and 150 km from Wyndham Port, with concentrate transported via sealed road for export.

In 2024 the company reached Final Investment Decision (FID) on the fully funded Sorby Hills Silver-Lead Project, transitioning from development to construction, with first concentrate production targeted for 2027. Revenue mechanics are anchored in the sale of silver-lead concentrate under offtake agreements; the disclosed offtake counterparty is Trafigura Asia Trading, with pricing tied to silver and lead benchmark markets rather than set by Boab. Operating geographies are Western Australia only, while customers are global commodity traders and smelters reached through export logistics.

The company is pre-revenue and is capitalised for construction, having secured approximately A$154 million of development funding in November 2025 from Davidson Kempner and Merricks Capital. Boab operates with a small headcount (1-10 employees per firmographic data), consistent with a developer that relies on contractors and partners during the construction phase, and it carries no identified parent company, with ownership distributed among public shareholders on the ASX.

Name

Pacifico Minerals

Legal name

Boab Metals Limited

Website

https://pacificominerals.com.au

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Boab Metals Limited (ASX: BML) is a Western Australian silver-lead developer advancing the fully funded Sorby Hills Project toward first concentrate production in 2027, with 100% ownership of Sorby Hills, Manbarrum, and Eight Mile Creek, and offtake secured with Trafigura.

Ownership category

akta.pro rank

Product category

Silver and Lead Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Copper, Nickel, Lead, and Zinc Mining (21223)

SIC

Gold And Silver Ores (1040), Miscellaneous Metal Ores (1090), Metal Mining (1000)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

akta.pro secondary industry

Surface Mine Development & Pre-Strip (Earthworks, Overburden Removal, Haul Roads) (IMAKAOAD)

Keywords

• Silver mining
• Lead mining
• Base metals exploration
• Precious metals development
• Mineral concentrate production

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Others

Revenue model

1. Silver-Lead Concentrate Sales: Boab Metals generates revenue through the sale of silver-lead concentrate produced from the Sorby Hills project. The company has secured an offtake agreement with Trafigura Asia Trading for lead-silver concentrate. Revenue is commodity price dependent, with silver and lead prices determining revenue outcomes.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Pacifico Minerals (referenced as Boab Metals Limited) is developing the Sorby Hills Silver-Lead Project in the East Kimberley region of Western Australia, with 100% ownership of Sorby Hills, Manbarrum, and Eight Mile Creek prospects. The company produces silver-lead concentrate that is transported 150 km to Wyndham Port for export, with first concentrate production targeted for 2027 and offtake secured with Trafigura Asia Trading.

Product overview

Boab Metals Limited is a Western Australian base and precious metals company operating a platform of mining projects. The core product is the fully funded Sorby Hills Silver-Lead Project, which positions the company as an emerging Australian silver producer with first concentrate production targeted for 2027. Supporting the core project are two 100%-owned exploration prospects (Manbarrum and Eight Mile Creek) that extend the company's mineral exploration pipeline. The company produces silver and lead as saleable concentrate products, with commercial offtake arrangements in place for distribution through Wyndham Port.

Differentiator

Problem solved

Functional benefit

Products and services

• Sorby Hills Silver-Lead Project A fully funded silver-lead mining project located 50 km northeast of Kununurra in the East Kimberley region of Western Australia, 150 km from Wyndham Port. The project is 100% owned and targets first concentrate production in 2027, producing silver-lead concentrate for sale under offtake agreements.
• Manbarrum Project A 100%-owned mineral exploration prospect being advanced in parallel with the Sorby Hills development, expanding the company's mineral exploration pipeline in the region.
• Eight Mile Creek Project A 100%-owned mineral exploration prospect being advanced alongside other projects in the company's exploration portfolio in Western Australia.
• Silver Precious metal produced as silver-lead concentrate from the Sorby Hills project, sold via offtake agreements with commodity trading partners for global metals markets.
• Lead Base metal produced as silver-lead concentrate from the Sorby Hills project, transported 150 km to Wyndham Port for export to global markets.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Trafigura Asia TradingcoreChannel Partner/ Reseller/ Distributor · 12 December 2024Boab Metals entered into a lead-silver offtake agreement with Trafigura Asia Trading. Under this agreement, Trafigura will purchase the silver-lead concentrate produced from the Sorby Hills project. This is a critical commercial partnership for offtake of the company's primary product.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Silver Mines Limited: Silver Mines Limited (ASX:SVL) is an Australian silver-focused developer advancing the Bowdens Silver Project in NSW. Both companies are ASX-listed near-term silver developers targeting concentrate production, with comparable offtake dynamics and Australian regulatory exposure.
• New Century Resources: New Century Resources (ASX:NCZ) operates the Century Zinc Mine in Queensland, producing zinc and lead concentrates. Comparable as an Australian base-metals producer with similar lead/zinc concentrate offtake model and infrastructure-driven mine economics.
• Investigator Resources Limited: Investigator Resources (ASX:IVR) is an Australian silver explorer-developer advancing the Paris Silver Project in South Australia. Both are junior Australian silver-focused companies at similar stages of advancing a single core deposit toward development.

Regional players

• Capricorn Metals Ltd: Capricorn Metals (ASX:CMM) is an ASX-listed gold producer operating the Karlawinda mine in Western Australia. While focused on gold rather than silver-lead, it provides a regional comparable for ASX-listed junior-to-mid-tier metals developers operating in Western Australia with similar project economics and infrastructure profiles.

Broad incumbents

• South32 Limited: South32 (ASX:S32) is a diversified ASX-listed miner producing silver, lead, zinc, copper, and other metals across multiple global operations including Cannington (silver-lead-zinc). Useful incumbent benchmark for Australian-listed silver-lead producers and base-metals economics.
• MMG Limited: MMG Limited (HKEx:1208) is a major global base metals miner producing zinc, lead, copper, and cobalt from large-scale mines including Dugald River. Relevant as an incumbent lead-zinc concentrate producer that competes with Boab in offtake markets and represents the type of operator Boab aspires to scale into.
• Pan American Silver Corp. Pan American Silver (TSX/Nasdaq:PAAS) is one of the world's largest primary silver producers with multiple operating mines. Comparable as a publicly listed silver-focused miner with offtake relationships to major trading houses similar to Boab's Trafigura arrangement.
• Hecla Mining Company: Hecla Mining (NYSE:HL) is the largest silver producer in the United States with operations in silver, lead, and zinc. Comparable as a primary silver-lead producer whose realized silver pricing and concentrate economics provide a benchmark for Boab's future revenue outcomes.

Emerging players

• Polymetals Mining: Polymetals Mining (ASX:POL) is an Australian base and precious metals developer with silver-lead-zinc exposure at the Endeavor and Mount Bute projects. Comparable mineralogy and concentrate sales model, though at earlier stages of development than Sorby Hills.
• Azure Minerals Limited: Azure Minerals (ASX:AZS) is an Australian base and precious metals explorer-developer with nickel-copper and lithium focus. Comparable as an ASX-listed junior with exploration-stage assets advancing toward development, similar profile to Boab's Manbarrum and Eight Mile Creek prospects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/BoabMetals
• YouTubeyoutube.com/@boabmetalsvideos
• LinkedInlinkedin.com/company/boab-metals
• Facebookfacebook.com/boabmetalsltd

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pacifico Minerals