Polymetals Resources Ltd. ( (AU:POL) ) has shared an announcement.
Polymetals Resources Ltd has successfully completed its Share Purchase Plan, raising $423,500 through the issuance of 529,375 new shares at $0.80 each. This follows a $35 million institutional placement, with funds intended to bolster the company’s balance sheet and support its transition to production at the Endeavor mine, as well as to enhance exploration activities. The new shares will begin trading on the ASX on 18 March 2025, and board and management participation in the plan amounted to $295,000.
More about Polymetals Resources Ltd.
Polymetals Resources Ltd is an Australian mining company focused on producing precious and base metals. The company is set to begin production and generate cash flow in the first half of 2025 at its fully owned Endeavor Silver Zinc Mine in New South Wales. Polymetals operates within a significant polymetallic mineral province, holding exploration licenses over a vast area, indicating potential for long-term production.
YTD Price Performance: -6.88%
Average Trading Volume: 290,300
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$173.8M
For an in-depth examination of POL stock, go to TipRanks’ Stock Analysis page.