Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Polymetals Resources Ltd. Polymetals has raised A$35 million before costs through a single-tranche placement at A$0.80 per share. This capital boost brings the company’s total cash reserves to A$37 million, with access to an additional A$26 million in undrawn debt facilities. The funds will support the restart of the Endeavor silver-zinc operation in central New South Wales, with initial production expected in the second quarter of 2025. The capital will be used to strengthen the company’s balance sheet, expand near-mine and regional exploration, including at the Carpark prospect, and cover corporate and general working capital expenses. The placement was well-supported by new and existing investors, resulting in the issuance of 43.75 million shares. While company directors did not participate in the placement, they intend to acquire shares through an upcoming share purchase plan (SPP), which could raise up to A$3.2 million. Polymetals confirms that restart activities at Endeavor near Cobar remain on track, with refurbishment, surface and underground development, and key equipment procurement progressing as planned. The company remains focused on establishing sustainable cash flow and contributing to the Cobar region mining industry. #PolymetalsResources, #Mining, #Silver, #Zinc, #Australia, #Investment, #Finance, #EndeavorMine, #Exploration, #MiningIndustry, #StockMarket, #MiningNews, #ASX, #Resources, #CapitalRaising, #Cobar, #Metals, #CommodityMarkets, #Investing, #BusinessNew