Polymetals Resources Ltd
POL.ASXMaterials
Mineral Exploration
Market Data
$0.795
+0.0%$233.7M
-100000.0x
$-0.303
0.00%
-0.3%
Latest Earnings
30 June Quarterly Report
14 July 2026
Polymetals Resources delivered a strong June quarter with revenue surging 65% to $45.8M driven by increased production and product shipments from the Endeavor Mine restart. Operationally, record mining and mill production were achieved, unit costs declined 27% quarter-on-quarter, and cash generation turned positive with operating cash flow of $10.4M. Strategic exploration success at the Upper Main Lode confirmed high-grade silver-lead-zinc mineralisation adjacent to historic subsidence, validating the company's interpretation that the 1996 collapse affected a smaller orebody volume than previously assumed, supporting material near-term resource growth potential. Key points: Revenue increased 65% to $45.8M with record mining production up 48% quarter-on-quarter and record mill production of 44,410 tonnes achieved in May; Operating cash flow turned positive at $10.4M with significant cost reductions of 27% per tonne over three quarters, demonstrating operational leverage as mine ramps up; Cash position strengthened to $29.1M (+26%) while debt reduced by 29% to $10.7M, improving financial flexibility and balance sheet strength
Recent Announcements
30 June Quarterly Report
Polymetals Resources delivered a strong June quarter with revenue surging 65% to $45.8M driven by increased production and product shipments from the Endeavor Mine restart. Operationally, record mining and mill production were achieved, unit costs declined 27% quarter-on-quarter, and cash generation turned positive with operating cash flow of $10.4M. Strategic exploration success at the Upper Main Lode confirmed high-grade silver-lead-zinc mineralisation adjacent to historic subsidence, validating the company's interpretation that the 1996 collapse affected a smaller orebody volume than previously assumed, supporting material near-term resource growth potential. Key points: Revenue increased 65% to $45.8M with record mining production up 48% quarter-on-quarter and record mill production of 44,410 tonnes achieved in May; Operating cash flow turned positive at $10.4M with significant cost reductions of 27% per tonne over three quarters, demonstrating operational leverage as mine ramps up; Cash position strengthened to $29.1M (+26%) while debt reduced by 29% to $10.7M, improving financial flexibility and balance sheet strength
Becoming a substantial holder
FIL Limited and its entities listed in Annexure A ("FIL") became a substantial holder (5.10%).
March 2026 Quarterly Report
Polymetals Resources achieved a major operational milestone in Q1 FY2026 with the commencement of mining from the high-grade Upper North Lode (UNL) and first sales of Direct Shipping Ore (DSO), establishing a dual revenue stream. Revenue surged to $27.8M (from $4.6M in prior quarter) driven by DSO sales, while silver production increased dramatically to 547,302 oz with stronger-than-modelled grades due to native silver presence in upper-level oxides. The company ended the quarter with $60.9M in combined cash and net payable metal inventory, positioning Endeavor for sustainable production with an 18+ month UNL mining pipeline. Key points: Commencement of UNL mining with 18,384 tonnes extracted; first 5,500-tonne DSO parcel ready for April shipment, establishing dual revenue stream; Silver production surged 600% to 547,302 oz in Q1 (vs 78,100 oz in DecQ), with stronger-than-modelled grades from native silver in upper-level oxides; Revenue increased 502.6% to $27.8M from DSO sales and concentrate production, with unsold net payable metal inventory worth $37.9M at quarter end
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