Polymetals secures US$20M for Endeavor Mine restart with offtake deal

Proactive - Interviews for investors

Polymetals Resources Ltd (ASX:POL) executive chairman David Sproule joins Proactive’s Tylah Tully to discuss the funding the company has secured for the restart of its Endeavor silver, lead, and zinc mine north of Cobar, New South Wales. The company announced a US$20 million (~A$30 million) loan facility and a favourable offtake agreement with Ocean Partners UK Ltd, a global commodities trader, for zinc and silver-lead concentrates. These developments mark the final step in ensuring the mine’s restart, which is expected to generate cash flow by the first half of 2025. Polymetals’ mine plan projects a pre-tax value of A$414 million, with an internal rate of return (IRR) of 345%, and an estimated free cash flow of A$609 million over a 10-year operational period. Average annual EBITDA is expected to reach A$89 million during the first five years. Pre-production capital is set at A$28 million, with a maximum cash drawdown of A$30 million. Sproule highlighted the importance of the strategic partnership with Ocean Partners, which provides flexibility for future growth. The Endeavor mine is on track to restart production by mid-2025, with surface and underground refurbishment currently underway. #ProactiveInvestors #ASX #PolymetalsResources #EndeavorMine #MiningNews #SilverLeadZinc #MineRestart #OceanPartners #ProjectFunding #OfftakeAgreement #CommodityTrader #ZincConcentrates #CobarRegion #CashFlow #MiningProjects #PreTaxValue #EBITDA #StrategicPartnership #LoanFacility #ProductionRestart #MineRefurbishment #MetalCommodities #ExplorationPotential #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews