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Odessa Minerals Limited (AU:ODE)
ASX:ODE
Australian Market

Odessa Minerals Limited (ODE) AI Stock Analysis

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AU:ODE

Odessa Minerals Limited

(Sydney:ODE)

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Neutral 46 (OpenAI - 5.2)
Rating:46Neutral
Price Target:
AU$0.02
▲(90.00% Upside)
The score is held down primarily by weak financial performance (recurring losses, zero/volatile revenue, and persistent cash burn), only partly offset by a debt-free balance sheet. Technicals show a near-term uptrend, but extremely overbought momentum increases reversal risk. Valuation is not supportive given the loss-making profile and no dividend yield data.
Positive Factors
Low financial leverage
A debt-free balance sheet materially reduces solvency and interest-rate risk over the medium term, giving management flexibility to prioritize operational fixes or targeted investment rather than servicing debt. This durability supports continuing operations while restructuring revenue drivers.
Positive equity buffer
Maintaining a positive equity base provides a real capital buffer that can absorb further operating losses without immediate liquidation risk. Over 2-6 months this increases the company's ability to access credit or equity financing and to fund near-term remediation or project development.
Improving cash flow trend
A smaller free cash flow deficit in 2025 versus 2024 indicates operational improvement or cost reductions taking effect. If sustained, this reduces cumulative cash burn, lowers near-term financing needs, and supports a structural path toward break-even over the coming months.
Negative Factors
Recurring losses and volatile revenue
Revenue collapsing to zero and persistent net losses signal the business lacks stable commercial traction. Structurally, absent a credible revenue recovery plan, this erodes the company's ability to achieve sustainable margins and undermines reinvestment capacity over the medium term.
Consistent cash burn
Sustained negative operating cash flows force reliance on external funding or equity dilution to maintain operations. Over several months this increases financing risk, constrains strategic options, and may require asset sales or restructuring if underlying cash generation is not restored.
Negative return on equity
Persistently negative ROE indicates management is destroying shareholder capital rather than creating value. This structural underperformance erodes the equity base, undermines investor confidence, and limits the company's long-term ability to attract capital without major operational turnarounds.

Odessa Minerals Limited (ODE) vs. iShares MSCI Australia ETF (EWA)

Odessa Minerals Limited Business Overview & Revenue Model

Company DescriptionOdessa Minerals Limited operates as a diamond mineral exploration company in Western Australia. It holds 20 granted and application exploration licenses in the Aries, Ellendale, Calwynyardah, and Noonkanbah Projects covering an area of 2,600 square kilometers in the Kimberley region of Western Australia. The company was formerly known as Fargo Enterprises Limited and changed its name to Odessa Minerals Limited in January 2022. Odessa Minerals Limited was incorporated in 1935 and is based in Perth, Australia.
How the Company Makes MoneyOdessa Minerals Limited generates revenue primarily through the discovery and development of diamond resources. The company's primary revenue streams include the sale of extracted diamonds and potentially partnering with other mining companies or investors to fund exploration projects. Earnings are influenced by the market demand for diamonds, the success of exploration activities, and the company's ability to efficiently extract and sell its mineral resources. Strategic partnerships and joint ventures may also play a significant role in advancing projects and providing additional capital or expertise, thus contributing to the company's revenue generation.

Odessa Minerals Limited Financial Statement Overview

Summary
Financial performance is weak: minimal/volatile revenue (down to zero in 2025), recurring net losses, and ongoing negative operating and free cash flow indicating continued cash burn. The main offset is a low-leverage balance sheet with zero debt and still-positive equity, which provides some flexibility but does not remove funding/dilution risk.
Income Statement
12
Very Negative
Operating performance remains weak. Revenue is minimal and volatile, falling to zero in 2025 (annual), and profitability is consistently negative across the period with recurring net losses (2025: -2.55M vs. 2024: -0.80M). While 2023 showed positive gross profit, losses still remained large relative to revenue, indicating a cost structure that is not yet supported by the current scale of operations.
Balance Sheet
58
Neutral
The balance sheet is a relative strength due to low financial leverage: total debt is zero in recent years (and modest in 2021), which reduces solvency risk. However, shareholder value creation is poor, with negative returns on equity across all periods (2025: about -46% and 2022: about -108%), reflecting ongoing losses that steadily erode capital over time despite a still-positive equity base (2025: ~5.6M).
Cash Flow
24
Negative
Cash generation is consistently negative, with operating cash flow below zero every year (2025: -0.64M; 2024: -0.79M), implying ongoing cash burn to fund operations. Free cash flow is also negative throughout (2025: -0.64M; 2024: -2.25M), though 2025 shows improvement versus 2024. Cash burn alongside persistent accounting losses suggests continued reliance on external funding if conditions do not improve.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.00117.73K27.57K777.000.00
Gross Profit0.000.00-104.00K23.56K-300.68K-8.18K
EBITDA-2.55M-2.55M-793.00K-2.21M-5.69M-24.40K
Net Income-2.55M-2.55M-796.00K-2.21M-5.69M-844.95K
Balance Sheet
Total Assets5.80M5.80M6.68M7.50M5.77M733.50K
Cash, Cash Equivalents and Short-Term Investments2.15M2.15M2.27M4.52M5.00M649.52K
Total Debt0.000.000.000.000.00104.40K
Total Liabilities214.34K214.34K147.36K322.66K498.60K73.06K
Stockholders Equity5.59M5.59M6.54M7.18M5.27M660.44K
Cash Flow
Free Cash Flow-635.23K-635.23K-2.25M-2.60M-988.05K-959.26K
Operating Cash Flow-635.23K-635.23K-785.58K-1.22M-560.72K-861.91K
Investing Cash Flow-539.22K-539.22K-1.46M-1.37M-167.86K-97.35K
Financing Cash Flow1.06M1.06M-6.24K2.12M5.51M321.89K

Odessa Minerals Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
53
Neutral
AU$24.70M-2.25-26.42%13.24%
49
Neutral
AU$15.02M-13.96-92.62%29.33%
48
Neutral
AU$23.45M-4.88-93.49%-4.88%
46
Neutral
AU$38.80M-10.50-42.05%-150.00%
44
Neutral
AU$9.22M-1.57-94.59%27.23%
42
Neutral
AU$7.94M-4.00-53.65%-66.67%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:ODE
Odessa Minerals Limited
0.02
<0.01
61.54%
AU:GIB
Gibb River Diamonds Limited
0.07
0.03
89.74%
AU:COY
Coppermoly Limited
0.01
>-0.01
-23.08%
AU:SCN
Scorpion Minerals Limited
0.04
0.03
147.06%
AU:BRX
Belararox Ltd.
0.09
-0.07
-41.88%
AU:C1X
Cosmos Exploration Limited
0.08
0.03
77.27%

Odessa Minerals Limited Corporate Events

Odessa Minerals Options Lapse, Simplifying Capital Structure
Jan 12, 2026

Odessa Minerals Limited has announced that a large tranche of options, described as ODEAS options exercisable at $0.04 and expiring on 11 January 2026, has lapsed after the conditions for exercising these rights were not satisfied. The cessation of 140,661,192 options reduces the company’s pool of potential dilutive securities, which may slightly simplify its capital structure and alter future equity-raising dynamics for existing shareholders and prospective investors.

The most recent analyst rating on (AU:ODE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Odessa Minerals Limited stock, see the AU:ODE Stock Forecast page.

Odessa Completes Extensive Sampling at Lyndon Base Metal and Gold Targets
Jan 8, 2026

Odessa Minerals has completed a major ground-mapping and rock chip sampling campaign across key hyperspectral dolomite and kaolinite anomalies at its Lyndon Project in Western Australia, collecting 200 samples over prospects including Ebro Bore, Tower Bore and Beroi Dam to evaluate the potential for base metal and gold mineralisation. The work expands on earlier encouraging lead and copper surface results at Ebro Bore and includes first-pass sampling at the large-scale Tower Bore dolomite anomaly and further sampling at Beroi Dam’s kaolinite-associated fault breccias, with assay results due in March 2026 that could significantly refine Odessa’s exploration targets and influence the project’s future drilling and development plans.

The most recent analyst rating on (AU:ODE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Odessa Minerals Limited stock, see the AU:ODE Stock Forecast page.

Odessa Minerals Announces Director’s Interest Change
Nov 24, 2025

Odessa Minerals Limited has announced a change in the interest of its director, Mr. Timothy Goldsmith. The change involves the acquisition of 37,857,143 fully paid ordinary shares and 16,000,000 performance rights through indirect interests, specifically through the Mollygold Superannuation Pty Ltd and the Goldsmith Family Trust. This development is part of resolutions passed during the company’s Annual General Meeting, which could potentially impact the company’s governance and shareholder structure.

Odessa Minerals Issues 30 Million Unquoted Equity Securities
Nov 20, 2025

Odessa Minerals Limited announced the issuance of 30 million unquoted equity securities, divided into three sets of options with varying expiration prices, set to expire in April 2030. This move is part of a previously announced transaction, indicating the company’s strategic efforts to manage its equity and potentially enhance its financial flexibility, which could impact its market positioning and stakeholder interests.

Odessa Minerals Issues 16 Million Performance Rights
Nov 20, 2025

Odessa Minerals Limited announced the issuance of 16,000,000 unquoted performance rights, effective November 20, 2025. This move is part of previously announced transactions and reflects the company’s ongoing efforts to incentivize performance and align interests with stakeholders, potentially impacting its operational strategies and market positioning.

Odessa Minerals Issues New Shares to Boost Financial Position
Nov 20, 2025

Odessa Minerals Limited has announced the issuance of 59,285,714 fully paid ordinary shares, which are exempt from the on-sale restrictions under the Corporations Act 2001. This move indicates the company’s compliance with regulatory requirements and suggests a strategic effort to enhance its financial position and shareholder value.

Odessa Minerals Successfully Passes All Resolutions at AGM
Nov 13, 2025

Odessa Minerals Limited announced that all resolutions were passed at their Annual General Meeting, including the election and re-election of directors, approval of a 10% placement facility, and ratification of director options. These decisions are expected to strengthen the company’s governance and provide it with greater flexibility in capital management, potentially enhancing its strategic positioning in the mineral exploration sector.

Odessa Minerals Expands Exploration at Lyndon Project with Promising Results
Oct 23, 2025

Odessa Minerals Limited has reported significant progress in its exploration activities for the quarter ending September 30, 2025, at its Lyndon Project. The company has confirmed anomalous base metal assays, including lead and copper, at the Ebro Bore Prospect and has expanded its sampling program to further explore the potential of the Gneuda Formation. Additionally, Odessa has strengthened its board with the appointment of Tim Goldsmith as Non-Executive Chairman and completed a $1.15 million unbrokered placement to fund ongoing exploration efforts. The expanded exploration efforts, including mapping for uranium mineralisation, indicate promising potential for further discoveries, potentially enhancing Odessa’s position in the mining sector.

Odessa Minerals Updates AGM Notice with New Resolutions
Oct 23, 2025

Odessa Minerals Limited has issued an addendum to its 2025 Notice of Annual General Meeting, introducing additional resolutions and a replacement proxy form. This update requires shareholders to use the new proxy form for voting on the added resolutions, impacting how shareholder votes are counted and potentially influencing decision-making processes at the meeting.

Odessa Minerals Issues 105 Million Shares Under Regulatory Exemption
Oct 16, 2025

Odessa Minerals Limited has announced the issuance of 105,000,000 fully paid ordinary shares, which will be exempt from the on-sale restrictions under section 708A(5) of the Corporations Act 2001. This move is part of the company’s compliance with regulatory provisions, ensuring transparency and maintaining investor confidence, while potentially enhancing its market position and shareholder value.

Odessa Minerals Limited Announces Quotation of New Securities
Oct 16, 2025

Odessa Minerals Limited has announced the issuance of 105,000,000 ordinary fully paid securities, which will be quoted on the Australian Securities Exchange (ASX) under the code ODE. This move is part of previously announced transactions and is expected to enhance the company’s financial flexibility and market presence.

Odessa Minerals Appoints New Director with No Current Securities
Oct 15, 2025

Odessa Minerals Limited has announced the appointment of Timothy Goldsmith as a director, effective from October 14, 2025. The announcement indicates that Mr. Goldsmith currently holds no securities or interests in the company, suggesting a fresh perspective and potential strategic shifts for the company as it continues its operations in the mineral exploration sector.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 06, 2026