Odessa Minerals Reports Quarterly Activities and Cash Flow
Key points
- Odessa Minerals reported activities for the quarter ending 30 June 2026.
- Collected rock chip samples at Mt Yaragner and Lyndon Project.
- Planning for a 10,000m air-core drilling program across priority prospects.
- Successfully completed a $2.65 million placement.
- Appointed Sam Brooks as Non-Executive Director.
Full summary
Odessa Minerals Limited (ASX: ODE) reported its activities for the quarter ending 30 June 2026. The company collected 93 rock chip samples at the Mt Yaragner REE-in-soil target and 200 samples at the Lyndon Project, identifying new base metal anomalism. A maiden 10,000m air-core drilling program is planned for September 2026. The company completed a successful $2.65 million placement, raising funds for project acquisitions and working capital. Sam Brooks was appointed as a Non-Executive Director. The company ended the quarter with a cash balance of $3.6 million.
Guidance
Odessa Minerals ended the quarter with a cash balance of $3.6 million.
Outlook
Odessa Minerals plans to conduct a 10,000m air-core drilling program in September 2026 and continues to evaluate value-accretive acquisition opportunities.
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