Can Polymetals Sustain Production Momentum at Endeavor Mine Restart?
Polymetals Resources reports steady progress at its Endeavor silver zinc mine with commissioning underway and first cash flow anticipated in June 2025. Mining volumes are ramping up ahead of schedule, setting the stage for a promising production phase.
- Endeavor mine redevelopment on schedule and within budget
- Commissioning phase underway with ore processing to start next week
- Over 40,000 tonnes of ore stockpiled underground
- Targeting 65,000 tonnes of ore processed monthly in second half of 2025
- Exploration drilling ongoing at Carpark prospect
Steady Progress at Endeavor
Polymetals Resources Ltd (ASX: POL) has provided a significant update on the redevelopment of its Endeavor silver zinc mine in New South Wales. The company reports that the project remains on schedule and within budget, with commissioning activities well underway. This milestone marks a critical step towards resuming production and generating cash flow, which is expected to commence as early as June 2025.
Mining operations have been progressing ahead of plan, with over 40,000 tonnes of ore already stockpiled underground. The first ore has been crushed and hoisted to the surface, and the process plant is currently undergoing wet commissioning. Ore processing is set to begin next week, aiming to ramp up to a monthly throughput of 65,000 tonnes during the second half of the year.
Operational Efficiency and Cost Control
Executive Chairman Dave Sproule highlighted the efficiency of the redevelopment, noting that the in-house build approach has delivered exceptional value for shareholders. The company’s focus on staged commissioning and infrastructure reliability is designed to support long-term operational stability. This disciplined approach is particularly noteworthy given the scale of the project and the challenges often associated with mine restarts.
With mining volumes increasing and processing about to commence, Polymetals is positioning itself to transition from development to production smoothly. The anticipated cash flow starting in June will be a key indicator of the mine’s commercial viability and the company’s ability to sustain operations moving forward.
Exploration and Growth Potential
Beyond the immediate restart activities, Polymetals continues to invest in exploration. Diamond drilling is ongoing at the Carpark prospect, targeting extensions of the Main Lode. This exploration effort underscores the company’s commitment to organic growth and the potential to expand its resource base within the prolific Cobar Basin.
While the current focus is on ramping up production, the exploration results expected later this year could provide additional upside and extend the mine’s life. Investors will be watching closely for updates that could influence the company’s growth trajectory and valuation.
Looking Ahead
As Polymetals moves into the production phase, the market will be keen to see how the Endeavor mine performs operationally and financially. The company’s ability to maintain its schedule and budget discipline will be critical in building investor confidence. Meanwhile, ongoing exploration success could further enhance the project’s long-term prospects.
Bottom Line?
Polymetals is on the cusp of turning its Endeavor mine restart into tangible cash flow, but sustained production and exploration results will be key to validating its growth story.
Questions in the middle?
- Will Polymetals meet its targeted 65,000 tonnes per month processing rate in H2 2025?
- What will the initial cash flow figures reveal about the mine’s profitability?
- How significant are the exploration results expected from the Carpark prospect?
