By Digifin Pty Ltd · About this coverage
Key Points
- October ore processed of 40,790 tonnes, 79.1% above the September Quarter monthly average
- October silver ore grade of 99.3 g/t against 156.5 g/t in the September Quarter
- Silver produced of 91,905 oz, zinc 907 t and lead 648 t in October
- December Quarter guidance unchanged at 105,000 to 115,000 tonnes processed and +350,000 ounces of silver
- Ocean Partners working capital facility raised to US$20 million, with US$11.3 million drawn at end of October
About Polymetals (ASX:POL)
Polymetals Resources Ltd is an ASX-listed silver, zinc and lead producer headquartered in Brisbane. It owns the Endeavor Mine near Cobar in New South Wales, which supplies concentrate from an underground mine and processing plant, and holds exploration tenements in the Northern Cobar Basin.
Polymetals (ASX:POL) reported October production and operating progress at its Endeavor Mine in New South Wales and left December Quarter guidance unchanged, with throughput up on contract underground labour but silver grade below the September Quarter.
October ore processed was 40,790 tonnes, 79.1% above the September Quarter monthly average of 22,778 tonnes. Silver produced was 91,905 oz. Silver ore grade was 99.3 g/t against 156.5 g/t for the September Quarter. Polymetals says October ore was a blend of 70% remaining 9750 Main Lode stope ore and 30% Upper North Lode ore, and that November ore will be mined almost entirely from the Upper Lodes, which it expects to deliver higher silver, zinc and lead grades. The transition to contract underground labour through RND Resources reached about 77% of target and, Polymetals says, is on track to finish by the end of 2026. On 22 October 2026 Polymetals added a US$10 million working capital facility with offtake partner Ocean Partners, taking the total to US$20 million, of which US$11.3 million was drawn at the end of October. December Quarter guidance remains 105,000 to 115,000 tonnes of ore processed and +350,000 ounces of silver.
No direct shipping ore was shipped in October. The release states the value of concentrate produced as $11.9 million without a currency prefix, and does not state operating costs or cash on hand. The updated 2026 Endeavor Ore Reserve is yet to be released and is scheduled for the December Quarter.
Source: Polymetals Resources Ltd (ASX:POL), 4 November 2026. Summary content supplied by Digifin Pty Ltd.
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