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FINWIRES

Polymetals Resources Exchanges AU$28 Million Endeavor Mine Rehabilitation Bond; Shares Down 3%

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Polymetals Resources (ASX:POL) said it exchanged a AU$28 million Endeavor Mine rehabilitation bond previously held by project vendor CBH Resources using existing cash reserves, according to a Tuesday filing with the Australian bourse.

The exchange is the last step in the company's acquisition of the Endeavor Mine in New South Wales, and will release Polymetals of the vendor-held senior security over the project while transferring full ownership of Cobar Infrastructure to Polymetals by July 30, per the filing.

The company's shares were down about 3% in recent Tuesday trade amid broader market weakness.

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