ASX Penny stocks flexing their muscles today

The following ASX penny stocks surged on Monday as critical project milestones, strong funding support and supportive commodity trends boosted investor interest.

Boab Metals Limited (ASX: BML) 

Boab Metals Limited on 19 December announced that it has exercised its option to acquire 100% ownership of the Sorby Hills Silver Lead Project in Western Australia.

This transaction provides Boab with full exposure to forecast production of 897kt of concentrate containing 18.6Moz of silver and 575kt of lead which increases the company’s leverage to higher silver prices.
The company has also taken a Final Investment Decision on the Sorby Hills Project and is now targeting first production in H2 2027.

The Sorby Hills FEED Study highlighted very strong project economics with a pre-tax NPV (8%) of $411 million, an IRR of 37% and average annual EBITDA of $126 million.
Boab reported a pro forma cash balance of $54 million following the completion of the recent funding.

West Coast Silver Limited (ASX: WCE) 

West Coast Silver Limited on 4 December announced that it entered into a non-binding Memorandum of Understanding with Artemis Resources to collaboratively assess processing options for the Elizabeth Hill Silver Mine.
Key events during the September 2025 quarter included the commencement of a fully funded Phase 2 diamond drilling program and the consolidation of a 180 square kilometre land package around Elizabeth Hill.

The company completed $6.1 million capital raising and closed the quarter with $5.1 million in cash.
The management plans to convert Phase 2 drilling results into a maiden mineral resource estimate while advancing discussions around potential processing options at Radio Hill.

Cyprium Metals Limited (ASX: CYM)

Cyprium Metals Limited delivered a transformative September 2025 quarter that focused on funding and advancing the restart of the Nifty Copper Complex in Western Australia.

Recent activity was led by the completion of an $80 million capital raise through a placement and entitlement offer which fully funds the Phase 1 Copper Cathode Restart Project at Nifty and significantly improves the balance sheet.
Cash movements during the quarter reflected development stage spending with net operating cash outflows of $7.7 million, mainly linked to site operations, staffing, interest expenses and project readiness work as preparations for production continued.

Cyprium closed the September quarter with a solid cash position to fund the cathode restart, feasibility studies for the Concentrate Project and ongoing exploration across the Paterson Province.

Maronan Metals Limited (ASX: MMA)

Maronan Metals Limited has advanced the development pathway for its flagship Maronan Silver-Lead and Copper-Gold Project in northwest Queensland.
Recent progress was highlighted by the release of the company’s inaugural Preliminary Economic Assessment for the Starter Zone which marked a major milestone after three years of technical work and confirmed the potential for the project to emerge as one of Australia’s next significant silver producers.
The PEA demonstrated robust economics across a standalone processing plant and a toll treatment option with the Starter Zone accounting for only 22% of the total silver-lead resource base which leaves considerable upside that is not yet reflected.
The Starter Zone has a base case NPV (8%) of $377 million, an IRR of 37% and life-of-mine free cash flow of $683 million under the preferred standalone processing scenario.

(Source: Company Reports)