Polymetals Resources Ltd. (AU:POL) has released an update.
Polymetals Resources Ltd has successfully secured $6.2 million through a share placement, issuing 22 million new shares at $0.28 each, to fund their Endeavor Mine Restart and exploration activities. The capital raise was backed by existing shareholders and new investors, including Metals Acquisition Limited, ensuring a strong cash position of approximately $8.7 million for the company. The raised funds are earmarked for geotechnical drilling, mine optimization, refurbishment, and exploration of near-mine prospects.
For further insights into AU:POL stock, check out TipRanks’ Stock Analysis page.
