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Polymetals Resources Ltd (ASX:POL)

ALERT: Price-sensitive ASX Announcement for POL
Current share price for POL : $0.860 -0.08 (-8.51%)+
Announcement
Release
9 Mar 2026 9:47AM
Price at Release
$0.940
Full Release
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Summary
Polymetals Resources Ltd has announced the commencement of high-grade silver ore mining from the Upper North Lode at the Endeavor Silver Mine. The extracted ore exhibits substantially higher silver grades than initially modelled, primarily due to native silver. A trial of Direct Shipping Ore is underway, driven by favorable smelter conditions and high silver demand. This initiative is anticipated to boost revenue by capturing additional gold value. The company maintains a robust inventory of concentrates and DSO, ensuring consistent cash flow, while it evaluates expanding its Ore Reserve in light of elevated silver prices.
Key Points
  • Polymetals Resources Ltd has commenced mining of high-grade silver ore from the Upper North Lode (UNL) at the Endeavor Silver Mine.
  • The reconciled silver grade of the mined ore is significantly higher than the modelled reserve grade, highlighting the presence of native silver.
  • Polymetals is proceeding with a Direct Shipping Ore (DSO) trial due to attractive smelter terms and strong demand for silver.
  • Direct shipment is expected to realize additional gold value, enhancing the economic potential of the ore.
  • The company holds significant inventory of concentrate and stockpiled DSO, underpinning future cash flow.
  • Polymetals continues to assess the conversion of more Mineral Resource into Ore Reserve, considering the current silver price.
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.