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Polymetals Resources Ltd (ASX:POL)

ALERT: Price-sensitive ASX Announcement for POL
Current share price for POL : $0.795 -0.475 (-37.40%)+
Announcement
Release
14 Jan 2026 9:54AM
Price at Release
$1.270
Full Release
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Summary
Polymetals Resources Ltd's quarterly report for the period ending 31 December 2025 highlights the company's operational challenges and achievements, notably the tragic incident on 28 October 2025, where two employees lost their lives, significantly impacting operations at the Endeavor Mine. Despite this, the company successfully resumed operations and completed its first shipments of silver-lead and zinc concentrates. Financially, Polymetals raised $34.4 million through an institutional placement and secured additional working capital, including a US$10 million facility from Ocean Partners and a $5 million loan from the Sproule family, to support its ongoing activities. The company ended the quarter with $30 million in cash and $15 million in available finance, with a focus on improving safety, operational reliability, and exploration activities.
Key Points
  • Tragic incident at Endeavor Mine on 28 October 2025 causing fatalities.
  • Successful resumption of operations and first shipments of concentrates.
  • Raised $34.4 million through institutional placement.
  • Secured additional working capital from Ocean Partners and Sproule family.
  • Ended the quarter with $30 million in cash and $15 million available finance.
  • Focus on safety improvements, operational reliability, and exploration.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.