Odessa Minerals Limited (ODE) AI Stock Analysis

• Market Cap: AU$42.33M
• Dividend Yield: N/A
• Average Volume (3M): 4.07M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.45
• 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): 0.00
• 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: 50 Neutral
• Price Target: AU$0.03 ▲(150.00% Upside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is held back primarily by weak financial performance marked by recurring losses, zero revenue in the latest period, and ongoing cash burn despite a low-debt balance sheet. Technical signals are moderately supportive with price above key moving averages and a slightly positive MACD, while valuation is difficult to justify due to negative earnings and no dividend data.

Positive Factors

Low financial leverage

Zero reported debt is a durable solvency advantage: it reduces bankruptcy risk, preserves capacity to absorb losses, and gives management flexibility to finance operations or projects via equity or asset-backed options. Over months this lowers refinancing pressure and improves strategic optionality.

Positive equity buffer

A positive equity base (~5.6M) provides a lasting capital buffer against operating losses, supporting creditor confidence and enabling continued operations while management pursues turnaround actions. It cushions against short-term shocks and reduces immediate insolvency risk over the next several months.

Improving cash flow trend

A meaningful reduction in negative free cash flow year-over-year indicates progress in cutting burn or stabilizing operations. If sustained, the trend reduces external funding needs, extends runway and creates a structural path toward break-even cash generation over a 2-6 month horizon.

Negative Factors

Recurring net losses

Persistent and sizable net losses erode shareholder value and constrain reinvestment. Continued losses require ongoing financing or cost cuts, undermine ability to scale operations, and raise the probability of dilution or restructuring, creating a durable headwind to sustainable profitability.

Minimal and volatile revenue

Revenue collapsing to zero demonstrates weak or non-existent commercial traction in the core business. Without stable top-line inflows, fixed costs and investment cannot be supported, making margin recovery and business model viability uncertain over the medium term.

Consistent cash burn and funding reliance

Chronic negative operating cash flow forces dependency on external capital or asset sales. Repeated financing rounds dilute holders or increase leverage, limit strategic choices, and create execution risk—an enduring constraint on growth and a structural vulnerability for the business model.

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

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Odessa Minerals Limited Financial Statement Overview

Summary

Overall fundamentals are weak: minimal/volatile revenue (down to zero in 2025) and recurring net losses with negative operating cash flow and free cash flow indicating ongoing cash burn. The main offset is a low-leverage balance sheet with zero debt and still-positive equity, which lowers solvency risk but does not resolve profitability or funding pressure.

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	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	-23.41K	0.00	117.73K	27.57K	777.00	0.00
Gross Profit	-24.58K	0.00	-104.00K	23.56K	-300.68K	-8.18K
EBITDA	-2.85M	-2.55M	-793.00K	-2.21M	-5.69M	-24.40K
Net Income	-1.54M	-2.55M	-796.00K	-2.21M	-5.69M	-844.95K
Balance Sheet
Total Assets	6.58M	5.80M	6.68M	7.50M	5.77M	733.50K
Cash, Cash Equivalents and Short-Term Investments	2.75M	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	165.72K	214.34K	147.36K	322.66K	498.60K	73.06K
Stockholders Equity	6.41M	5.59M	6.54M	7.18M	5.27M	660.44K
Cash Flow
Free Cash Flow	-353.16K	-635.23K	-2.25M	-2.60M	-988.05K	-959.26K
Operating Cash Flow	-849.28K	-635.23K	-785.58K	-1.22M	-560.72K	-861.91K
Investing Cash Flow	319.95K	-539.22K	-1.46M	-1.37M	-167.86K	-97.35K
Financing Cash Flow	94.35K	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$26.27M	-1.41	-19.75%	―	―	13.24%
ODE	50 Neutral	AU$42.33M	-8.75	-25.64%	―	―	-150.00%
C1X	49 Neutral	AU$30.41M	-1.41	-97.52%	―	―	27.23%
SCN	48 Neutral	AU$20.05M	-4.75	-53.37%	―	―	-4.88%
COY	46 Neutral	AU$6.18M	-3.65	-57.65%	―	―	-66.67%
GIB	45 Neutral	AU$11.37M	-5.88	-57.53%	―	―	29.33%

Odessa Minerals Limited Corporate Events

Odessa Minerals Addresses Late Director Interest Filing and Reviews Disclosure Controls

Odessa Minerals has disclosed that a Change of Director’s Interest Notice for director Zane Lewis was lodged late with the ASX due to an administrative oversight. The company states that all directors are aware of their disclosure obligations and that existing internal procedures require directors to notify the company secretary of any changes in notifiable interests.

Management maintains that its compliance arrangements are generally adequate but acknowledges the error and has reviewed its processes to further strengthen timely disclosure. The incident underscores Odessa Minerals’ effort to reassure regulators and investors about its commitment to continuous disclosure standards and governance controls after the one-off lapse.

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 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.