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Odessa Minerals Limited ( (AU:ODE) ) has shared an update.
Odessa Minerals has secured firm commitments to raise $2.65 million through a share placement at $0.02 per share, attracting strong support from institutional, sophisticated and existing investors, with directors set to contribute $454,000 subject to shareholder approval. The funds will be used to review and advance potential high-quality project acquisitions and for working capital, positioning the company to pursue value-accretive growth opportunities.
The company has also appointed experienced geologist Sam Brooks, founding chief geologist of Bellevue Gold, as a Non-Executive Director to drive its acquisition and exploration strategy, replacing outgoing director Tom Bahen. Brooks’ track record in leading major gold discoveries and project development is expected to strengthen Odessa’s technical capability and enhance its ability to secure and advance attractive resource projects.
More about Odessa Minerals Limited
Odessa Minerals Limited is an Australian-listed exploration company focused on discovering and developing mineral resources. The company’s strategy centres on identifying and acquiring high-quality exploration and development projects with strong potential to generate significant shareholder value.
Average Trading Volume: 2,627,955
Technical Sentiment Signal: Hold
Current Market Cap: A$42.33M
For a thorough assessment of ODE stock, go to TipRanks’ Stock Analysis page.