Odessa Minerals Limited (ODE) AI Stock Analysis

• Market Cap: AU$33.51M
• Dividend Yield: N/A
• Average Volume (3M): 4.07M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.12
• Revenue Growth: N/A
• EPS Growth: -150.00%
• Country: AU
• Employees: 34,000
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): >-0.01
• Shares Outstanding: 1,763,818,200
• 10 Day Avg. Volume: 692,668
• 30 Day Avg. Volume: 4,069,372
• PEG Ratio: -0.03
• Price to Book (P/B): 1.50
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -13.17
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: AU$0.02 ▲(100.00% Upside)

The score is primarily weighed down by weak financial performance—minimal revenue, recurring losses, and ongoing cash burn—despite the benefit of a debt-free balance sheet. Technicals are mixed (positive momentum but extremely overbought RSI), while valuation is constrained by loss-making fundamentals and no dividend support.

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 Business Overview & Revenue Model

Company Description

Odessa 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 Money

Odessa 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

Overall financial profile is weak: minimal/volatile revenue (zero in 2025), recurring net losses, and sustained negative operating/free cash flow indicating ongoing 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 resolve profitability and funding-risk concerns.

Income Statement

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

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

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.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	117.73K	27.57K	777.00	0.00
Gross Profit	0.00	0.00	-104.00K	23.56K	-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 Assets	5.80M	5.80M	6.68M	7.50M	5.77M	733.50K
Cash, Cash Equivalents and Short-Term Investments	2.15M	2.15M	2.27M	4.52M	5.00M	649.52K
Total Debt	0.00	0.00	0.00	0.00	0.00	104.40K
Total Liabilities	214.34K	214.34K	147.36K	322.66K	498.60K	73.06K
Stockholders Equity	5.59M	5.59M	6.54M	7.18M	5.27M	660.44K
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 Flow	1.06M	1.06M	-6.24K	2.12M	5.51M	321.89K

Odessa Minerals Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
BRX	53 Neutral	AU$21.28M	-1.94	-26.42%	―	―	13.24%
SCN	48 Neutral	AU$25.47M	-5.23	-93.49%	―	―	-4.88%
ODE	46 Neutral	AU$33.51M	-9.00	-42.05%	―	―	-150.00%
GIB	44 Neutral	AU$10.94M	-9.81	-92.62%	―	―	29.33%
COY	42 Neutral	AU$7.94M	-4.40	-53.65%	―	―	-66.67%
C1X	41 Neutral	AU$8.46M	-1.51	-94.59%	―	―	27.23%

Odessa Minerals Limited Corporate Events

Odessa Maps New Base Metal and Gold Targets at Lyndon Project, Raises $1.15m for Exploration

During the December 2025 quarter, Odessa Minerals advanced exploration at its Lyndon Project by completing hyperspectral alteration mapping that outlined extensive dolomite anomalies over roughly 24km of strike, defining multiple new base metal targets at the Ebro Bore, Tower Bore, Tarn Bore and Trinity Bore prospects. Initial reconnaissance at Ebro Bore returned anomalous lead and copper associated with dolomite near major faults, while a 9km kaolinite anomaly at the newly designated Beroi Dam prospect has emerged as a promising structural target for gold, prompting an expanded surface sampling and mapping program; the company also strengthened its board with the appointment of experienced mining executive Tim Goldsmith as non-executive chairman and raised $1.15 million in an unbrokered placement to fund these exploration and project generation initiatives.

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 Options Lapse, Simplifying Capital Structure

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

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

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

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

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

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

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.