Polymetals Resources $35 Million Equity Capital Raise

Highlights:

• $35 million raised through a single-tranche placement at $0.80 per share.
• Pro forma cash position of ~$37 million, supported by $26 million in undrawn debt finance facilities.
• Funds to support Endeavor mine restart, near-mine exploration, and regional development.

Funding Secured for Growth as Australia’s Next Silver and Zinc Producer

Polymetals Resources Ltd (ASX: POL) has successfully secured firm commitments for a $35 million capital raise through a single-tranche placement of 43.75 million fully paid ordinary shares at $0.80 per share. The placement was well-supported by both existing and new institutional, professional, and sophisticated investors, including specialist resources investors. This funding ensures Polymetals is well-positioned for its transition to production.

With this placement, the company’s pro forma cash position increases to approximately $37 million, supplemented by $26 million in undrawn debt finance facilities. These funds will provide the necessary capital for the planned restart of the Endeavor mine and strengthen Polymetals’ financial position as it moves toward first silver and zinc production in Q2 2025.

A portion of the funds will also be allocated to advancing near-mine exploration, including work at the Carpark prospect, as well as broader regional exploration efforts. The company is committed to unlocking further value through strategic development and expansion.

To further engage its shareholder base, Polymetals will conduct a Share Purchase Plan (SPP), allowing eligible shareholders on record as of February 7, 2025, to purchase up to $30,000 worth of shares at the same $0.80 per share offer price.

Polymetals Executive Chairman, Dave Sproule, expressed appreciation for the investor support:

“We are extremely grateful for the backing from our existing shareholders and are pleased to welcome new investors to the Polymetals register. This capital raise ensures we remain well-funded as we progress towards first production and unlock further value through exploration.”

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