Odessa Minerals (ASX:ODE)

Quarterly Report – Activities for Quarter Ended 30 September 2024

Odessa Minerals Limited (ASX:ODE) (“Odessa” or “the Company”) is pleased to report on its activities for thequarter ending 30 September 2024 (the “Quarter”).

HIGHLIGHTS:

Odessa’s Executive Director, David Lenigas, commented:

“During the quarter the Board has continued to rationalise the Company’s tenement portfolio, minimising expenditure and assessing the priorities for its exploration programs going forward in addition to assessing new opportunities. Our cash position is very healthy at $3.2 million; post the two-tranche placing closing. At our Lyndon Uranium Project, we have completed the Heritage survey during the quarter. All Program of Works (POWs) for the drilling are in place but no drilling for uranium can occur at Lyndon until a base-line uranium survey has been completed which is expected to be finalised this quarter.”

Lyndon Uranium Project:

During the quarter an Aboriginal Heritage Survey was completed over the Company’s uranium drill targets. The final heritage report was received post quarter end and is being reviewed by the Company.

In addition, the Company finalised its Radiation Management Plan and submitted this to DEMIRS for approval.

Post quarter end, a base-line gamma survey was commenced, the completion of which is a DEMIRS requirement prior to considering any drilling on site.

Gascoyne East Project

During the quarter the company undertook a review of the Gascoyne East Project including the results of the recent airborne magnetic survey and interpretation, with a view to reducing tenure while retaining areas of high prospectivity.

The Company anticipates significantly reducing tenement holding costs as a result of the review, while maintaining tenure over priority prospects and drill targets on the project.


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)
Odessa Minerals

Odessa Minerals

Uranium exploration in the Gascoyne Region of Western Australia

Nuclear plant cooling towers with overlaid stock market graphs at sunset.

Uranium Price Update: Q3 2025 in Review

The uranium space is currently navigating a complex mix of optimism and structural pressures as investors increasingly look to the sector and major miners reduce their guidance. After sinking to a US$63.25 per pound on March 7 — the lowest point since September 2023 — the U3O8 spot price... Keep Reading...
Drill Rig Mobilised at Lo Herma ISR Uranium Project

Drill Rig Mobilised at Lo Herma ISR Uranium Project

American Uranium (AMU:AU) has announced Drill Rig Mobilised at Lo Herma ISR Uranium ProjectDownload the PDF here. Keep Reading...
Stock market display with "Mergers and Acquisitions" in white amid red and green numbers.

IsoEnergy Expands Into Australia with Toro Energy Takeover

IsoEnergy (TSX:ISO,NYSE American:ISOU) is set to acquire Australia’s Toro Energy (ASX:TOE,OTC Pink:TOEYF) in an all-share deal that will consolidate two uranium developers into a single diversified platform as global nuclear demand surges and uranium prices continue to strengthen.The merger... Keep Reading...
Joint Investor Presentation

Joint Investor Presentation

Toro Energy (TOE:AU) has announced Joint Investor PresentationDownload the PDF here. Keep Reading...
IsoEnergy to Acquire Toro Energy

IsoEnergy to Acquire Toro Energy

Toro Energy (TOE:AU) has announced IsoEnergy to Acquire Toro EnergyDownload the PDF here. Keep Reading...
Blurry periodic table focus on uranium, element 92, with atomic mass 238.029.

Western Australia Reviews Uranium Mining Ban as Nuclear Energy Investment Grows

Australia’s uranium sector remains shaped by state-based rules, with Western Australia maintaining a ban on new uranium mining licenses since 2017.While projects approved before the ban were allowed to proceed, no new developments have been permitted, however things could be changing. Premier... Keep Reading...

Latest Press Releases

Related News