Summary:
Endeavor is a producing underground silver-zinc-lead mine located 40 km north of Cobar, Australia, owned by Polymetals. The mine operated from 1982 to 2019, producing over 32 Mt of ore, and currently hosts a JORC resource of 16.3 Mt at 8.0% zinc, 4.5% lead, and 84 g/t silver.
On August 5, 2024, Polymetals released an optimized restart plan outlining a 10-year mine life producing 10.6 Moz silver, 260 kt zinc, and 90 kt lead. The study delivered a pre-tax NPV8% of A$414M, IRR of 345%, and projected capex of A$28M. To fund the restart, Polymetals secured US$20M in debt from Ocean Partners and raised A$35M in equity. On June 16, 2025, Polymetals announced that production was underway at Endeavor with operations expected to ramp up during H2 2025.
Recent geotechnical drilling at the Upper North Lode returned exceptional intercepts, such as 67.1 metres at 517 g/t silver equivalent (as defined by Polymetals). These results support further resource growth and potential enhancements to the mine plan
Interest: 4% NSR Royalty
Location: North-central New South Wales, Australia
Project Status: Producing
Counterparty: Polymetals Resources (ASX:SFR)
Polymetal Resources - Endeavor
