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The latest update is out from Odyssey Gold Limited ( (AU:ODY) ).
Odyssey Gold Limited has raised approximately $9 million through a share placement, securing about $8.6 million from institutional and sophisticated investors and a further $0.4 million from directors, with cornerstone investor Tribeca Investment Partners emerging as a substantial shareholder with a 5.1% stake. The funds will be used to accelerate extensional and resource definition drilling at the Tuckanarra Gold Project, complete an updated Mineral Resource Estimate and Scoping Study, commence initial pre-development site works, and support general corporate purposes, underpinning the company’s push toward near-term development and monetisation of its Murchison district gold resource base.
The most recent analyst rating on (AU:ODY) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Odyssey Gold Limited stock, see the AU:ODY Stock Forecast page.
More about Odyssey Gold Limited
Odyssey Gold Limited is an Australian gold exploration and development company focused on its Tuckanarra Gold Project in the Murchison gold district. The project hosts an Indicated and Inferred Mineral Resource of 5.14Mt at 2.5g/t for 407,000 ounces of gold, including a high-grade subset, and the company is advancing studies and drilling programs to evaluate near-term development and monetisation options.
YTD Price Performance: -2.78%
Average Trading Volume: 1,893,443
Technical Sentiment Signal: Buy
Current Market Cap: A$39.24M
For an in-depth examination of ODY stock, go to TipRanks’ Overview page.