Polymetals Resources (ASX:POL) said surface and underground refurbishment work at its Endeavor silver-zinc mine in New South Wales is progressing according to plan for a scheduled restart of the mine, according to a bourse filing on Monday.
The firm said it is targeting planned cash flow during the first half of 2025.
It said its first $5 million tranche from a $20 million prepayment facility with Ocean Partners was drawn in December 2024. Further tranches will be drawn in line with the expenditure program for the mine's scheduled restart.
It said it is now employing 79 full-time personnel at the mine, and it plans to grow the headcount to a full contingent of over 200 by the third quarter.
The firm's shares fell nearly 6% in recent Monday trade.
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