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Polymetals Resources Ltd. ( (AU:POL) ) has provided an announcement.
Polymetals Resources Ltd has announced a reduction in its debt facility from US$20 million to US$10 million, supplemented by a new equity raise of A$15 million. This strategic move ensures adequate working capital for the ramp-up phase of production at the Endeavor Mine, where silver-lead and zinc concentrates are being stockpiled. The company has replaced the undrawn portion of the debt with an equity placement, reflecting confidence in its operational progress and future profitability. The equity raise, priced at a premium to recent trading prices, highlights stakeholder support and positions Polymetals for steady-state production and potential exploration success.
The most recent analyst rating on (AU:POL) stock is a Buy with a A$1.30 price target. To see the full list of analyst forecasts on Polymetals Resources Ltd. stock, see the AU:POL Stock Forecast page.
More about Polymetals Resources Ltd.
Polymetals Resources Ltd (ASX: POL) is a mining company focused on developing the high-grade Endeavor silver zinc mine located in the Cobar Basin, New South Wales, Australia. The company aims to become a long-term, profitable producer of base and precious metals, with a strong exploration portfolio offering potential for discovering copper, gold, silver, and zinc orebodies.
Average Trading Volume: 449,910
Technical Sentiment Signal: Hold
Current Market Cap: A$191.8M
For an in-depth examination of POL stock, go to TipRanks’ Overview page.