Polymetals Resources' Endeavor Mine gears up for profitable restart | News Direct

Polymetals Resources' Endeavor Mine gears up for profitable restart

Polymetals Resources Ltd
News release by Polymetals Resources Ltd

facebook icon linkedin icon twitter icon pinterest icon email icon Melbourne, Victoria | April 11, 2024 03:30 PM Eastern Daylight Time

Polymetals Resources Ltd (ASX:POL) chairman David Sproule joins Proactive to discuss the restart of the Endeavor Mine near Cobar in central New South Wales. Thanks to rising metal prices, the mine's financial prospects have soared, with a 28% increase in pre-tax net present value (NPV), now at US$257 million, and an internal rate of return (IRR) reaching 120%. Sproule delves into the significant impact of strengthened lead, zinc and silver prices on the mine's economics. The silver price, hitting a decade-high above A$42.50 per ounce, is particularly noteworthy as it propels the mine's near-term operations, especially with the planned extraction of more than five million ounces of high-grade silver ore from the Upper Main Lode in the first three years. Sproule also covers the ongoing mine plan optimisation revealing new ore sources, potentially boosting the updated ore reserve. Furthermore, he sheds light on the upcoming announcement regarding the Environmental Rehabilitation Bond exchange solution, crucial for advancing the project's financing and strategic partnerships. Sproule shares insights into how these developments are shaping the future of the Endeavor Mine, setting the stage for a robust and profitable recommencement of operations.



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Proactive Investors


Jonathan Jackson


+61 413 713 744



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