Sorby Hills at Mining Forum Americas 2026: low-cost silver push

On September 29th, 2026, Sorby Hills (BML) presented its project at Mining Forum Americas, detailing the mine nearing production from development. Located in Western Australia, the silver-lead mine is fully permitted and owned while still under construction. Management highlighted stronger funding, a larger resource base, and a delivery plan based on definitive feasibility study standards.

The company secured AUD 350 million in funding, with an updated project delivery plan showing a NAV of AUD 1 billion and an IRR of 97%. Expected annual production includes over 2 million ounces of silver and 70,000 tonnes of lead. Construction is on schedule, with wet commissioning targeted for June 2025 and first production in late Q3 2025.

Key cost advantages include fuel, port access, and possible hydropower. The project's economics are supported by a dual-commodity model, with lead output covering operating costs and silver providing main margin for equity holders. Management described the project as unusual due to its mid-construction status and strong economics.

Silver prices have doubled in the past 12 months, currently trading at AUD 60 per ounce. The resource base has expanded, and mine life has lengthened, with about 20 million tonnes planned for the first 10.5 years. Sorby Hills owns 100% of the project after acquiring the remaining 25% stake, and the acquisition of the DeGrussa process plant from Sandfire Resources reduced capital costs and construction timeline.