POL - Polymetals Resources' Endeavor Mine gears up for profitable restart
(NewsDirect)
Polymetals Resources Ltd (ASX:POL) chairman David Sproule joinsProactive to discuss the restart of the Endeavor Mine near Cobar incentral New South Wales. Thanks to rising metal prices, the mine'sfinancial prospects have soared, with a 28% increase in pre-tax netpresent value (NPV), now at US$257 million, and an internal rate ofreturn (IRR) reaching 120%. Sproule delves into the significant impactof strengthened lead, zinc and silver prices on the mine'seconomics. The silver price, hitting a decade-high above A$42.50 perounce, is particularly noteworthy as it propels the mine'snear-term operations, especially with the planned extraction of morethan five million ounces of high-grade silver ore from the Upper MainLode in the first three years. Sproule also covers the ongoing mineplan optimisation revealing new ore sources, potentially boosting theupdated ore reserve. Furthermore, he sheds light on the upcomingannouncement regarding the Environmental Rehabilitation Bond exchangesolution, crucial for advancing the project's financing andstrategic partnerships. Sproule shares insights into how thesedevelopments are shaping the future of the Endeavor Mine, setting thestage for a robust and profitable recommencement of operations.
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