Polymetals Resources to Raise AU$35 Million to Fund Silver, Zinc Production; Shares Down 6%

MT Newswires Live

Feb 10, 2025

Polymetals Resources (ASX:POL) received firm commitments to raise AU$35 million through a single tranche placement of about 43.8 million shares at AU$0.80 apiece, the company said in a Monday filing with the Australian bourse.

The company said it now has a pro forma cash position of about AU$37 million.

The funding will be used to strengthen the company's balance sheet as it transitions towards first silver and zinc production at Endeavor mine in New South Wales in the second quarter, among other initiatives, added the filing.

The company will also undertake a share purchase plan to allow existing shareholders registered on Feb. 7 to purchase up to AU$30,000 worth of shares at $0.80 each, per the filing.

Company shares dropped more than 6% in recent Monday trade.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2510002127"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2510002127\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2510002127?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-02-10 12:58","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2510002127","market":"fut","top_or_hot":-1,"title":"Polymetals Resources to Raise AU$35 Million to Fund Silver, Zinc Production; Shares Down 6%","media":"MT Newswires Live","content":"<html><body><p> Polymetals Resources (ASX:POL) received firm commitments to raise AU$35 million through a single tranche placement of about 43.8 million shares at AU$0.80 apiece, the company said in a Monday filing with the Australian bourse.</p><p>The company said it now has a pro forma cash position of about AU$37 million.</p><p>The funding will be used to strengthen the company's balance sheet as it transitions towards first silver and zinc production at Endeavor mine in New South Wales in the second quarter, among other initiatives, added the filing.</p><p>The company will also undertake a share purchase plan to allow existing shareholders registered on Feb. 7 to purchase up to AU$30,000 worth of shares at $0.80 each, per the filing.</p><p>Company shares dropped more than 6% in recent Monday trade.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Polymetals Resources to Raise AU$35 Million to Fund Silver, Zinc Production; Shares Down 6%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPolymetals Resources to Raise AU$35 Million to Fund Silver, Zinc Production; Shares Down 6%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2025-02-10 12:58</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> Polymetals Resources (ASX:POL) received firm commitments to raise AU$35 million through a single tranche placement of about 43.8 million shares at AU$0.80 apiece, the company said in a Monday filing with the Australian bourse.</p><p>The company said it now has a pro forma cash position of about AU$37 million.</p><p>The funding will be used to strengthen the company's balance sheet as it transitions towards first silver and zinc production at Endeavor mine in New South Wales in the second quarter, among other initiatives, added the filing.</p><p>The company will also undertake a share purchase plan to allow existing shareholders registered on Feb. 7 to purchase up to AU$30,000 worth of shares at $0.80 each, per the filing.</p><p>Company shares dropped more than 6% in recent Monday trade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7104","symbol_name":"黄金","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2510002127","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2510002127","pubTimestamp":1739163527,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Polymetals Resources  received firm commitments to raise AU$35 million through a single tranche placement of about 43.8 million shares at AU$0.80 apiece, the company said in a Monday filing with the Australian bourse.The company said it now has a pro forma cash position of about AU$37 million.The funding will be used to strengthen the company's balance sheet as it transitions towards first silver and zinc production at Endeavor mine in New South Wales in the second quarter, among other initiatives, added the filing.The company will also undertake a share purchase plan to allow existing shareholders registered on Feb. 7 to purchase up to AU$30,000 worth of shares at $0.80 each, per the filing.Company shares dropped more than 6% in recent Monday trade.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7104":"黄金","POL.AU":"POLYMETALS RESOURCES LTD"},"translate_title":"Polymetals Resources将筹集3500万澳元资助银、锌生产；股价下跌6%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"POL.AU":0.9},"content_text":"Polymetals Resources (ASX:POL) received firm commitments to raise AU$35 million through a single tranche placement of about 43.8 million shares at AU$0.80 apiece, the company said in a Monday filing with the Australian bourse.The company said it now has a pro forma cash position of about AU$37 million.The funding will be used to strengthen the company's balance sheet as it transitions towards first silver and zinc production at Endeavor mine in New South Wales in the second quarter, among other initiatives, added the filing.The company will also undertake a share purchase plan to allow existing shareholders registered on Feb. 7 to purchase up to AU$30,000 worth of shares at $0.80 each, per the filing.Company shares dropped more than 6% in recent Monday trade.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}