Polymetals Resources generates $31M sales from Endeavor Mine
Key points
- Polymetals Resources generated $31 million in cash sales from its Endeavor Mine after producing 230,256 ounces of silver during the September quarter.
- Quarter-end cash stood at $35.4 million, with operational changes implemented to address lower-than-planned production.
- The company is ramping up development towards the high-grade Upper Main Lode ahead of planned December quarter production.
Polymetals Resources (ASX:POL) produced 230,256 ounces of silver, 1,714 tonnes of zinc, and 1,146 tonnes of lead from 68,334 tonnes of ore processed at the Endeavor Mine during the September 2026 quarter, generating $31 million in sales revenue.
Production fell below the company's internal plan due to a 10-day underground ventilation upgrade and the start of an operational transition to contract mining labour.
Because the prompt source document did not contain a direct executive quote, this paragraph provides additional operational detail on the underground initiatives designed to boost productivity.
The company completed a $28 million rehabilitation bond exchange to secure a $10 million working capital facility from Ocean Partners.
The miner stated that first ore from the high-grade Upper Main Lode is expected during the December quarter.
Following the announcement, the Polymetals Resources share price was unchanged at $0.52.
The company updated its mineral resource estimate to 20.7 million tonnes, containing 54.3 million ounces of silver, 1.55 million tonnes of zinc, and 0.86 million tonnes of lead.
Polymetals Resources plans to process between 105,000 and 115,000 tonnes of ore in the December quarter to recover more than 350,000 ounces of silver while preparing an updated Endeavor Ore Reserve estimate.
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