Polymetals Resources Ltd Secures AU$ 3million to Drive Growth

Polymetals Resources Ltd (ASX: POL) has successfully raised AU$ 35 million through a single tranche placement at AU$0.80 per share, issuing 43.75 million new shares. This funding, alongside AU$26 million in undrawn debt facilities, strengthens the Company’s position as it advances towards the first silver and zinc production at Endeavor in Q2 2025.

The capital will bolster the balance sheet, accelerate exploration, and support working capital needs. A Share Purchase Plan will allow eligible shareholders to participate at the same price. Executive Chairman Dave Sproule emphasized the timely restart of Endeavor amid strong AU$ zinc and silver prices. Polymetals, with a reinforced balance sheet and an expanded exploration team, is set to unlock significant value and contribute to the Cobar community and NSW mining industry.

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