Polymetals Resources Ltd (POL) has delivered a strong operational performance for the June 2026 quarter at its Endeavor mine, achieving record mining and mill throughput since the project’s restart. The company reported quarterly revenue of $45.8 million, representing a 65% increase. This financial performance supported an operational cashflow of $10.4 million, while the company continued to strengthen its balance sheet by reducing debt by 29% to $10.7 million and increasing cash reserves to $29.1 million.

Production metrics showed steady output, with the operation yielding 396,485 ounces of silver, 3,268 tonnes of zinc, and 2,061 tonnes of lead. Management noted that unit operating costs declined significantly, marking a 27% reduction over the preceding three quarters. To encourage efficiency, the company has implemented an employee profit share scheme, which allocates 5% of quarterly net free cash flow to the workforce to align operational outcomes with commercial targets.

Exploration remains a central pillar of the mine’s development strategy. Underground diamond drilling successfully confirmed zones of high-grade silver-lead-zinc mineralisation located near existing infrastructure. This discovery is particularly significant as it supports the interpretation that previous ground subsidence was smaller than historical models suggested, pointing toward potential increases in future mine inventory.

Looking ahead, management has outlined several key operational priorities to maintain this momentum. The company is currently advancing an underground diamond drilling program to evaluate the scale and continuity of remnant mineralisation in the Main Lode. Additionally, the team is progressing the Deep Zinc Lode underground resource drilling program. Processing remains a focus, with ongoing trial campaigns involving high-grade ore from the Upper North Lode aimed at optimizing metallurgical recoveries and maximizing revenue through a combination of concentrate production and direct shipping ore strategies.

Read the full announcement: 30 June Quarterly Report