Endeavor Mine Working Capital Facilities Secured

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Stock Polymetals Resources Ltd (POL.ASX)
Release Time 28 Nov 2025, 8:42 a.m.
Price Sensitive Yes
 Polymetals Secures Additional Endeavor Mine Working Capital
Key Points
  • Ocean Partners offers US$10 million bridging facility
  • Chairman provides A$5 million, nil interest loan facility
  • Ocean Partners exercises 1.25 million options at A$1.00/share
Full Summary

Polymetals Resources Ltd (ASX: POL) has secured additional working capital facilities to support ongoing operations at its Endeavor Mine. Ocean Partners has offered a further US$10 million bridging facility that can be utilized if required, in addition to the existing US$10 million working capital facility and concentrate prepayment arrangement. The Chairman has also provided a A$5 million, nil interest loan facility. Ocean Partners has exercised 1.25 million options at A$1.00 per share, providing further support. The Endeavor Mine has resumed production and returned to continuous shift operations, with a scheduled SAG mill reline and other minor plant maintenance currently underway ahead of the planned recommencement of milling in early December 2025. Investigations by the Authorities into the 28th October 2025 unintended detonation incident, which claimed two lives, are ongoing.