On 14 May 2024, Polymetals (ASX: POL) finalized revised arrangements with CBH Resources Ltd to substantially acquire the Endeavor Silver, Zinc, and Lead Mine near Cobar. This acquisition, which grants Polymetals 100% ownership of the Endeavor Mine and 1,100 kilometers of exploration tenements in the Cobar Basin, is a significant milestone in its strategic growth. The revised arrangements also provide Polymetals with an additional two years to replace the AU$27.96 million Endeavor Mine Rehabilitation Bond, further solidifying its position in the market.
Polymetals has solidified a nonexclusive strategic alliance with Metals Acquisition Limited (ASX: MAC), which promises mutual benefits. MAC has committed to an AU$5.0 million investment in POL. MAC owns and operates the high-grade CSA Copper Mine.
The June 2024 Placement received robust backing from existing and new domestic and offshore sophisticated, professional, and institutional investors. Their strong support is a testament to Polymetal's confidence in its future. The Company issued 22 million new shares at an issue price of AU$0.28 per new share, raising AU$6,160,000. Notably, existing Polymetals shareholder Sparta AG committed to subscribe for an additional 2 million POL shares at AU$0.28 per share.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
