Odessa Minerals (ASX:ODE)

$1.1M Placement to Advance Lyndon Uranium Project

Odessa Minerals Limited (ASX:ODE) (“Odessa” or “the Company”) is pleased to announce it has received firm commitments from professional and sophisticated investors for a Placement to raise $1,112,500 (before costs) (“Placement”) by way of a two tranche placement of fully paid ordinary shares (“New Shares”).


Highlights:

  • Oversubscribed Placement to sophisticated investors raises $1.1M via two tranche placement
  • Proceeds to be utilised to continue exploration and drilling the Lyndon Uranium project, including key targets at Relief Well and Baltic Bore.

Tranche 1 comprising of 225 million New Shares will be issued immediately utilising the Company’s existing placement capacity under ASX Listing Rule 7.1/7.1A. Tranche 2 comprises 331.25 million New Shares which are subject to shareholder approval at the Company’s AGM in November, including a subscription by Non- Executive Chairman Mr Zane Lewis for $100,000 of New Shares.

The issue price of A$0.002 per New Share represents a discount of nil to the last closing price of $0.002 on 25 September and a 23.9% discount to the 15-day volume weighted average price of $0.0263.

Proceeds from the Placement will be utilised to continue exploration at Odessa’s projects including:

  • Exploration and drilling of the Company’s Lyndon Uranium Project
  • General working capital purposes.

Zane Lewis, Chairman of Odessa, said: “I am very pleased to receive commitments for $1.1M from highly supportive group of long term investors, who share our vision at Odessa. This placement will ensure Odessa is well funded for the upcoming exploration and drilling program at Lyndon.”


Click here for the full ASX Release

This article includes content from Odessa Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

ODE:AU
The Conversation (0)
Thor Energy (ASX:THR)

Term Sheet to Treat Colorado Project Uranium Waste Dumps and Gross Revenue Sharing Agreement with DISA Technologies

Pathway for Thor Energy PLC to potentially generate revenue from US Uranium and Critical Minerals Production

Thor Energy plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce the signing of a term sheet ("Term Sheet") with DISA Technologies, Inc. ("DISA") to seek to evaluate and if successful, treat historically abandoned uranium mine waste dumps ("Waste") and recover saleable uranium and other critical minerals concentrates at Thor's Colorado uranium claims. Thor holds 25% ownership rights to uranium minerals on U.S. Bureau of Land Management ("BLM") via its US subsidiary Standard Minerals Inc. ("Standard") that holds the projects (the "Colorado Projects") in Colorado in the United States, along with the 75% holder, London-listed Metals One PLC (AIM: Met1).

Keep reading...Show less
Saga Metals (TSXV:SAGA)

Saga Metals


Keep reading...Show less
Swedish flag with a yellow cross on a blue background, waving in the clear sky.

Sweden Moves to Lift Uranium Mining Ban Through Legislative Proposal

Sweden has announced plans to lift its seven-year ban on uranium mining, with a proposal to amend the Environmental Code and Minerals Act expected in parliament later this year. If approved, the changes would take effect on January 1, 2026.

The proposal follows the conclusions of a government inquiry completed in December 2024, which recommended that uranium be treated under the same legal framework as other concession minerals.

That recommendation was reviewed by the Council on Legislation in June 2025, clearing the way for parliament to consider a repeal.

Keep reading...Show less
Basin Energy Managing Director Pete Moorhouse.

Basin Energy Shifts Focus to Uranium Assets with District-scale Potential in Queensland

Basin Energy’s (ASX:BSN) recent acquisition of a significant landholding in the Mount Isa region of Northwest Queensland has propelled the company into Australia's uranium and rare earths exploration landscape, giving investors exposure to a cost-effective, district-scale opportunity, according to the company’s managing director, Pete Moorhouse.

“The Queensland opportunity provides direct exposure for district-scale wins from first-pass drilling with reverse circulation and aircore, so this is relatively cheap drilling on district-scale opportunities. Northwest Queensland, from the jurisdiction (perspective), is a real prime opportunity for critical minerals,” said Moorhouse.

The Basin Energy executive also noted that there are significant government initiatives in place at both the federal and state level to support the region’s growth, as well as recent M&A activity in the uranium space.

Keep reading...Show less
Basin Energy Logo

Basin Energy


Keep reading...Show less
Nuclear reactors with upward trending graph overlay.

Cameco, Kazatomprom Production Cuts Stoke Uranium Market Tightness

Shares of Cameco (TSX:CCO,NYSE:CCJ) were on the rise after the uranium major announced it is reducing its annual production guidance due to expansion delays at the McArthur mine in Saskatchewan, Canada.

Instead of the projected 18 million pounds of U3O8 the company was aiming for from its McArthur River joint venture with Orano, the revised output tally reduces 2025’s production total to between 14 million and 15 million pounds.

In January, Cameco warned that delays at McArthur River — including slower-than-expected ground freezing, development setbacks and labor constraints — could affect its 2025 production outlook.

Keep reading...Show less

Latest Press Releases

Related News

×