Polymetals Resources (POL) investor relations material

Executive summary

• Achieved record mining and mill production since recommissioning, with operational cash flow of $10.4 million and revenue up 65% to $45.8 million compared to the previous quarter.

• Focused on stabilising production, improving operational efficiencies, and expanding resource base through successful underground drilling at the Upper Main Lode.

• Implemented an employee profit share scheme distributing 5% of quarterly net free cash flow among all employees.

Financial highlights

• Revenue increased to $45.8 million, up 65% quarter-on-quarter.

• Operating cash flow reached $10.4 million; closing cash rose 26% to $29.1 million.

• Debt reduced by 29% to $10.7 million; net payable metal inventory valued at $22.6 million.

• Total costs for the quarter were $35.0 million, with significant cost reductions achieved.

Outlook and guidance

• Priorities for the next quarter include advancing underground drilling, expanding the resource base, and maintaining operational discipline.

• Exploration activities to continue at Upper Main Lode, Deep Zinc Lode, and regional seismic-gravity targets.