Announcement • May 06
Odessa Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.25 million. Odessa Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.25 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 109,800,000
Price\Range: AUD 0.02
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,700,000
Price\Range: AUD 0.02
Transaction Features: Subsequent Direct Listing New Risk • Oct 25
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 34% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$23.9m market cap, or US$15.5m). Announcement • Oct 16
Odessa Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 0.735 million. Odessa Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 0.735 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 105,000,000
Price\Range: AUD 0.007
Transaction Features: Subsequent Direct Listing New Risk • Sep 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.7m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m (AU$116k revenue, or US$76k). Market cap is less than US$10m (AU$11.2m market cap, or US$7.37m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Announcement • Sep 16
Odessa Minerals Limited, Annual General Meeting, Nov 13, 2025 Odessa Minerals Limited, Annual General Meeting, Nov 13, 2025. Announcement • Apr 10
Odessa Minerals Limited Announces Board Changes, Effective April 14, 2025 Odessa Minerals Limited advised that Mr. Thomas Bahen and Ms Maddison Cramer have been appointed as Non-Executive Directors of the Company. The Company has also accepted the resignations as Directors by Mr. David Lenigas and Ms Lisa Wells effective, April 14, 2025. Mr. Bahen has significant experience in capital raisings, corporate advisory and commercial transactions for listed and unlisted companies. Mr. Bahen is a former director of Canaccord Genuity and Patersons Securities and is a former director of Wildcat Resources (ASX:WC8), which he helped recapitalise and also assisted with recapitalising Naracoota Resources Pty Ltd. into Alcidion (ALC. ASX) as well as on the boards of Carbine Resources (ASX:CRB) and Naracoota Resources. Ms Cramer is the co-founder and managing director of boutique corporate services firm Belltree Corporate and has over 10 years' experience as a corporate lawyer and company secretary to ASX-listed mining and resources companies. Ms Cramer is a qualified lawyer (LLB), graduate of the Australian Institute of Company Directors' (AICD) Company Directors course and company secretary of a number of ASX-listed companies. New Risk • Mar 08
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.7m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m (AU$116k revenue, or US$73k). Market cap is less than US$10m (AU$8.00m market cap, or US$5.05m). New Risk • Feb 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 38% per year over the past 5 years. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m (AU$118k revenue, or US$73k). Market cap is less than US$10m (AU$8.80m market cap, or US$5.47m). Announcement • Dec 06
Odessa Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.1125 million. Odessa Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.1125 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 225,000,000
Price\Range: AUD 0.002
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 331,250,000
Price\Range: AUD 0.002
Transaction Features: Subsequent Direct Listing New Risk • Oct 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 22% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.2m free cash flow). Share price has been highly volatile over the past 3 months (51% average weekly change). Earnings have declined by 38% per year over the past 5 years. Revenue is less than US$1m (AU$118k revenue, or US$78k). Market cap is less than US$10m (AU$7.61m market cap, or US$5.02m). Minor Risk Shareholders have been diluted in the past year (22% increase in shares outstanding). Announcement • Aug 28
Odessa Minerals Limited, Annual General Meeting, Nov 13, 2024 Odessa Minerals Limited, Annual General Meeting, Nov 13, 2024. New Risk • Mar 14
New major risk - Revenue and earnings growth Earnings have declined by 0.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.9m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 0.3% per year over the past 5 years. Revenue is less than US$1m (AU$42k revenue, or US$28k). Market cap is less than US$10m (AU$6.26m market cap, or US$4.14m). Minor Risk Shareholders have been diluted in the past year (30% increase in shares outstanding). Announcement • Jan 31
Odessa Minerals' Ordinary Shares to be Deleted from OTC Equity Odessa Minerals Limited Ordinary Shares will be deleted from OTC Equity effective January 31, 2024, due to inactive security. Announcement • Sep 12
Odessa Minerals Limited, Annual General Meeting, Nov 15, 2023 Odessa Minerals Limited, Annual General Meeting, Nov 15, 2023. Announcement • Aug 18
Odessa Minerals Limited Completed the acquisition of E09/2435 tenement in the Gascoyne Province from Bow Island Resources Pty Ltd. Odessa Minerals Limited signed a binding agreement to acquire E09/2435 tenement in the Gascoyne Province from Bow Island Resources Pty Ltd for AUD 0.08 million on December 16, 2022. The acquisition consideration comprises 6 million fully paid ordinary shares and 2 million unlisted options. As on January 11, 2023 the Company issued the Bow Island Consideration Securities.
Odessa Minerals Limited Completed the acquisition of E09/2435 tenement in the Gascoyne Province from Bow Island Resources Pty Ltd on August 17, 2023. Recent Insider Transactions • Aug 11
Non-Executive Chairman recently bought AU$80k worth of stock On the 9th of August, Zane Lewis bought around 10m shares on-market at roughly AU$0.008 per share. This transaction increased Zane's direct individual holding by 5x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Zane's only on-market trade for the last 12 months. Announcement • Nov 17
Odessa Expands Gascoyne REE Exploration Holding Odessa Minerals Limited announced that it has applied for 2,143 square kilometres of new exploration license applications in the Gascoyne Terrane. The Gascoyne East Project consists of six new exploration license applications. The project is approximately 90% covered by colluvium gravels and cover sediments and, as such, has received minimal previous exploration. The area is interpreted as predominantly underlain by Gascoyne Terrane Moorarie Supersuite granitoidsa potential host for the carbonatite hosted REE mineralisation analogous to other discoveries elsewhere in the Gascoyne. The project is located approximately 80 kilometres to the south-southeast, and along a dominant regional structural trend, from Kingfisher Mining Ltd.'s Mick Well rare earth element discovery, and approximately 16 kilometres north of Krakatoa Resources Mt Clere REE project. The NE quadrant of the project area includes Edmund (basin) Group sediments including pelites and sandstones. Elsewhere, the Edmund Group is host to the large-scale base-metal deposits (such as the large Abra Deposit controlled by Galena Mining Ltd). Work by Geoscience Australia and others published in 2019 (Czarnota et al, 2019) suggests a deep tectonic zone controls giant copper and other metal deposits in Australia such as Olympic Dam (SA), Telfer (WA) and Mt Isa (QLD) deposits, as well as analogies elsewhere in the world, with this same `gigayear stability' gradient zone transecting the Gascoyne East area. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Lisa Wells was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 08
Odessa Minerals Limited (ASX:ODE) acquired Lyndon Project from CRC Minerals Pty Ltd. Odessa Minerals Limited (ASX:ODE) entered into an agreement to acquire Lyndon Project from CRC Minerals Pty Ltd. on April 26, 2022. Consideration will be paid in the form of AUD 0.9 million in cash, issue of 52 million Odessa shares. A break fee of $200,000 will be payable to CRC in the event that Odessa's shareholders do not approve the acquisition of the Lyndon Project and the other conditions are satisfied.The transaction is subject to receipt of Ministerial consent under the Mining Act 1978 and Odessa obtaining shareholder approval for the issue of the Consideration Securities. As of October 26, 2022. Odessa Minerals Limited's shareholders have approved the acquisition of the Lyndon Project. The condition precedents have now been met to issue Tranche 1 of the acquisition. As of November 8, 2022, all the conditions precedent have been met for the transaction.
Odessa Minerals Limited (ASX:ODE) completed the acquisition of Lyndon Project from CRC Minerals Pty Ltd. on November 8, 2022. Announcement • Oct 29
Odessa Minerals Limited (ASX:ODE) entered into a binding share sale agreement to acquire OD4 Noonie Pty Ltd from Odette Geoscience Pty Ltd, Geobase Australia Pty Ltd, Leigh Sinclair ATF Holden Sinclair Family Trust and Christabel Jayne Brand ATF The Brand Trust for AUD 0.92 million. Odessa Minerals Limited (ASX:ODE) entered into a binding share sale agreement to acquire OD4 Noonie Pty Ltd from Odette Geoscience Pty Ltd, Geobase Australia Pty Ltd, Leigh Sinclair ATF Holden Sinclair Family Trust and Christabel Jayne Brand ATF The Brand Trust for AUD 0.92 million on October 25, 2022. Consideration will be paid by issuing 51,156,870 shares, 20,462,806 unlisted options to OD4 Noonie option holders and repay loan of AUD 0.15 million to Odette. The transaction is subject to Odessa Minerals Limited due diligence review of OD4 noonie and tenment, Odessa Minerals Limited and major shareholders of OD4 obtaining regulatory and shareholder approvals and OD4 and Odette One Pty Ltd entering into royalty agreement. Completion will take place 5 business days after satisfaction or waiver of the Conditions Precedent. After completion Odessa Minerals Limited will hold 100% stake in OD4 Noonie Pty Ltd. Announcement • Sep 23
Odessa Minerals Limited, Annual General Meeting, Nov 24, 2022 Odessa Minerals Limited, Annual General Meeting, Nov 24, 2022. Announcement • Sep 13
Odessa Minerals Limited, Annual General Meeting, Oct 14, 2022 Odessa Minerals Limited, Annual General Meeting, Oct 14, 2022, at 11:00 W. Australia Standard Time. Location: Suite 1, 295 Rokeby Road Subiaco Australia Agenda: T consider Ratification of prior issue of Advisor Options; to consider Approval to issue Consideration Securities; to consider Approval to issue Options to David Lenigas; and to consider other matters. Announcement • Aug 12
Odessa Minerals Limited Identifies 14 Potential New Pipes as Aries Diamond Project Odessa Minerals Limited announced that the Ground Gravity Survey has been completed over the Aries Kimberlite Complex in the Kimberley Region of Western Australia, located 35km East of Mt Barnett and 240km South of Argyle. The GGS was conducted by Atlas Geophysics and modelling of the data is being undertaken by Fathom Geophysics Australia Pty Ltd. Preliminary data shows the presence of gravity lows over the known kimberlite pipes and multiple additional discrete gravity lows, which have a high possibility of being kimberlite pipes. Preliminary data received and reviewed clearly indicates the presence of discrete, circular, gravity lows scattered throughout the wider Aries area. It also shows the Aries footprint to be considerably larger than previously thought. As predicted, the data has identified the presence of a gravity low "ribbon" in the Carson Volcanics to the North. This ribbon could be host to additional new targets and further investigation is warranted. Other features that are possible kimberlite pipes are annotated as "Gravity targets". Based on a preliminary assessment, the gravity survey appears to have identified: · A substantially larger kimberlite system compared to the original magnetic modelling · Additional features that appear to be discrete geophysical anomalies that could be kimberlite pipes The current drill program planned will test: · the extent and extension of the known pipes from gravity modelling, and · Other geophysical anomalies suspected of being additional pipes. The Aries Diamond Project is located approximately 30 kilometres southeast of the Mt Barnett Roadhouse in the Central Kimberley, approximately 240 SW of the Argyle Diamond Mine and 250km east of Derby. The Aries kimberlites were first discovered in 1986 and since then multiple campaigns, focusing on the near surface outcrop, have been undertaken by other explorers. The Aries Kimberlite Complex has been mapped at surface with a footprint over 10Ha, making this the larger known diamond bearing kimberlite complex in Western Australia. In 2005 a wide diameter "Bauer" drill program for bulk sampling processed 2,169 tonnes, recovering 181 diamonds for 25.34 carats (WAMEX Report A72519). A best grade of 4.9cpht (carats per hundred tonnes) was achieved in the Athena Pipe. Announcement • Aug 03
Odessa Minerals Limited Announces Resignation of Alistair Stephens as CEO Odessa Minerals Limited announced that Mr. Alistair Stephens has resigned as the Company's CEO with immediate effect to pursue other opportunities. Announcement • Jul 20
Odessa Minerals Limited Announces Major Drilling Programme Approved for Aries Kimberlites Odessa Minerals Limited announced that a significant Programme of Works ("PoW") permit for the Aries Kimberlite Complex ("Aries" or "AKC"), has been approved by the Western Australian Government's Department of Mines Industry and Safety ("DMIRS"). The proposed exploration programme has taken a significant period of time to formulate, and the approval marks an important step for the commencement of drilling programmes at the Company's project at Aries, in the Central Kimberley region of Western Australia. Odessa has planned a 10,000m drill programme to cover the possible lateral extensions of the Aries Kimberlite Complex from those that are known to occur at surface. Never before has the AKC been drilled in a systematic way that demonstrates the outer limits of the kimberlite occurrences. Drill holes will be spaced in a grid pattern and drilled to depths of kimberlite intersection, up to 100m in depth. The programme also includes drilling of selected prospective targets generated from historical report investigations. The deepest drillhole previously drilled (AN15) was only drilled to a depth of ~300 metres in 1994 and terminated in diamond-bearing kimberlite rock that returned a 12-fold increase in microdiamond count compared to the surfacei. Six new drill holes, down to depths of between 300m and 600m, are designed to test the occurrence of kimberlite at depth within the current surface expression of the kimberlite pipes, as well as the potential southern dyke extension, not previously tested. These depth extensions have been designed to validate the potential distribution of grade with rock type in areas of the pipe not previously explored. The Aries Diamond Project is located approximately 30 kilometres southeast of the Mt Barnett Roadhouse in the Central Kimberley, and approximately 250km east northeast of Derby. Diamond-bearing kimberlites at Aries were first discovered in 1986. Since then, multiple campaigns, focusing on the near surface outcrop, have been undertaken by other explorers. The Aries Kimberlite Complex has been mapped at surface with a footprint over 10Ha, making this the larger known diamond bearing kimberlite complex in Western Australia. Announcement • Jul 12
Odessa Minerals Limited Announces That A Ground Gravity Geophysical Survey At the Aries Kimberlite Complex Has Commenced Odessa Minerals Limited announced that a ground gravity geophysical survey at the Aries Kimberlite Complex ("Aries" or "AKC"), has commenced. This survey marks the commencement of the field season for the Company at its flagship project in the Central Kimberley region of Western Australia. Highlights: Geophysics Gravity Survey Commences: Gravity Geophysical Survey of the Aries Kimberlite Complex ("AKC") is now Underway; Survey is Designed to Understand the Potential for Extensions of the AKC; Modelling Outcomes Expected Late July 2022; Gravity and Magnetic Model to be used for Drilling Targets Scheduled for August 2022. Previous Magnetic Modelling: Magnetic Data Modelling over the AKC was Completed in February 2022; Magnetic Data Modelling Suggests Kimberlites Extending to 900m+ depth; Results Suggest a Magnetic Footprint of 800m x 350m at 400m Below Surface and a lack of; Magnetic Signature to some Kimberlite Pipes at Aries in the Southern Complex. This survey aims to extend and improve on the aeromagnetic data modelling completed in February 2022. The previous modelling demonstrated a large complex of kimberlite pipes with a potential geometry of 800m x 350m at 400m below surface. Gravity data will aid in the assessment of the extended geometry of the AKC and assist in enhancing the design for the upcoming drilling programme scheduled for August 2022. The key findings of the magnetic modelling are: Aries is likely to extend beyond 900 metres vertical depth The pipes are elongate extending over ~800m north-south and >300metres east-west Pipes at surface coalesce into a single pipe beyond 300 metres depth The footprint of the magnetic model, which best fits the expression of magnetic kimberlite pipes, expands from: 10ha footprint (100,000 square metre) in the near surface; 13.4ha footprint (134,000 square metre) at 200 metres below the surface; >20ha footprint (>200,000 square metre) at 400 metres below the surface. The Athena Pipe, one of several pipes located south of the Aries Central Complex, does not have a comparable magnetic signature to Aries. South of Aries, there may also be several kimberlite fissures (feeder dykes) with extensive strike length (2.8 kilometres). This dyke target expands into a potential kimberlite "blow" at about 300 metres below the surface named "The Saddle". To the south of the Gemini prospect, the modelling suggests the dyke comes close to surface. Previous exploration has indicated kimberlite indicator minerals in the Gemini prospect, while limited historic drilling records intersected sandstone and no source for the indicator minerals has been found. Kimberlite rocks typically have a high specific gravity (or density) compared to other rock types. This geophysical technique is looking to identify kimberlites in the sandstone host rock (low specific gravity) to the south of Aries. To the north of Aries, it is proposed kimberlite pipes are present in the volcanic host rocks that have high magnetic signature but low specific gravity relative to kimberlite rocks. This gravity survey will help refine and define the presence of existing and new kimberlite pipes. With gravity survey results likely in late July 2022, the Company is working on exploration drill plans to follow up gravity survey targets in late August 2022. The Aries Diamond Project is located approximately 30 kilometres southeast of the Mt Barnett Roadhouse in the Central Kimberley, and approximately 250km east northeast of Derby. The Aries kimberlites were first discovered in 1986 and since then multiple campaigns, focusing on the near surface outcrop, have been undertaken by other explorers. The Aries Kimberlite Complex has been mapped at surface with a footprint over 10Ha, making this the largest known diamond bearing kimberlite complex in Western Australia. In the early 1990s, surface bulk sampling and drilling recovered near surface grade estimates of up to 4.8cpht (carats per hundred tonnes). During 2005, a wide-diameter "Bauer" drilling bulk sampling campaign processed 2169 tonnes, recovering 181 diamonds for 25.34 carats. Announcement • May 10
Odessa Minerals Limited Announces Detailed Planning Is Underway to Drill the Aries Kimberlite Complex in the Kimberley Region of Western Australia Odessa Minerals Limited announced that detailed planning is underway to drill the Aries Kimberlite Complex in the Kimberley Region of Western Australia. The closely spaced drilling programme over a 1,500m x 500m area of the pipes will test the link from Aries North, Aries Central, and Aries South (consisting of Helena, Athena, Persephone and Niobe blows), as one large diamondiferous complex. Recent Odessa work has determined that the kimberlites in this combined system are both magnetic and non-magnetic, thereby providing scope for an overall project size increase. This drilling will, for the first time in Aries exploration history, define the true surface kimberlite expression. The shallow drilling to depths of 50m to 100m, will also be analysed for microdiamond counts to provide an accurate grade distribution from surface to the base of drilling. These microdiamond results will provide guidance for optimising the location for the best bulk sampling sites. Aries - Grade Increases with Depth: Data analysis of historic diamond records is being processed to understand diamond size and grade distribution. Most diamondiferous pipes have a direct correlation between macrodiamond and microdiamond counts, and the increasing microdiamond grade is therefore, a proxy for increasing macrodiamond grade. This information is currently being used in the design of a deeper drilling programme and future metallurgical test work. The database has currently captured 961 drill hole locations and 1,552 sites of surface geochemistry. The data demonstrates that microdiamond grade increases at Aries North: From 10 counts per 100Kg at 21.5 to 52.5 metres below surface. To 38 counts per 100kg at 121.7 metres below surface. To 124 counts per 100kg from 277.7 metres below surface1. This represents a 1,140% increase in grade from near surface to depth. Inspection of historic drill holes in the Western Australian Core Library shows the pipe at surface has a greater proportion of dilution than previously prognosed and the potential, therefore, exists for significant grade increases with depth into the pure kimberlite rocks. Previous diamond bulk sampling has only tested the kimberlite within the top 48m of the pipes at the Southern Lobe and within 20m at the Central Lobe. It is likely that the increase in micro-diamond grade with depth is most likely related to less wall rock dilution and therefore the potential for higher grade diamond-bearing kimberlite. Using positive correlations with the available microdiamond to macrodiamond data and using microdiamond data where macrodiamond data is incomplete, the Company is planning to test the areas of high microdiamond count at depth in order to understand the likelihood of the area to host a significant diamond source. Several holes will be drilled south of the main pipes to test the potential for a kimberlite dyke south of the main pipe. Odessa's Management is advancing all the necessary permissions for site access for this 2022 exploration programme. Detailed planning for sourcing the appropriate drill rigs and bulk sampling plants is underway with the aim of the drills being on-site in the coming months. The Company will update shareholders on material information regarding this drilling programme as information becomes available. Announcement • Apr 27
Odessa Minerals Limited (ASX:ODE) entered into an agreement to acquire Lyndon Project from CRC Minerals Pty Ltd. Odessa Minerals Limited (ASX:ODE) entered into an agreement to acquire Lyndon Project from CRC Minerals Pty Ltd. on April 26, 2022. Consideration will be paid in the form of AUD 0.9 million in cash, issue of 52 million Odessa shares. A break fee of $200,000 will be payable to CRC in the event that Odessa's shareholders do not approve the acquisition of the Lyndon Project and the other conditions are satisfied.The transaction is subject to receipt of Ministerial consent under the Mining Act 1978 and Odessa obtaining shareholder approval for the issue of the Consideration Securities. Board Change • Apr 27
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Non Executive Director Zane Lewis is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 26
Odessa Minerals Limited Announces Directorate Changes Odessa Minerals Limited announced that Mr. David Lenigas has been appointed as an Executive Director of the Board, with immediate effect, to assist Odessa advance its Aries Kimberlite pipe - the largest known diamondiferous kimberlite pipe in Australia - and other mineral exploration interests. Mr. Lenigas is a mining engineer with a Western Australian First Class Mine Managers Certificate. He has extensive corporate experience at chairman and chief executive officer level on many of stock exchanges overseeing multiple business sectors. He has extensive exploration, development, and corporate experience at a very senior level in the diamond industry, in particular his role in founding what is known as the Lucapa Diamond Company Ltd. Dr. Darren Holden has resigned from the Board with immediate effect due to other business commitments. Announcement • Feb 02
Odessa Minerals Limited Announces Aries Diamond Kimberlite Modelled to 900M Below Surface Odessa Minerals Limited present results from the new 3D modelling of airborne magnetic data at the Aries Diamond Project (Aries), located in the Central Kimberley of Western Australia, which indicates the expansion of the Aries Pipe footprint at depth and implies a potential geometry of 800m x 350m at 400m below surface. Aries represents a significant diamond exploration target and will be the Company's priority focus for the upcoming 2022 drilling program. Aries Magnetic Modelling: Odessa recently contracted Fathom Geophysics Pty Ltd. (Fathom Geophysics) to review archival airborne magnetic data. In 1997, a 50m line spaced and 20m flight-height detailed magnetic survey was conducted by Ragged Range Mining NL (WAMEX A53515). This data was reprocessed, using contemporary techniques, by Fathom Geophysics. A 3D unconstrained inversion of the data was undertaken to estimate the subsurface distribution of magnetic rocks. The main kimberlites at Aries and Aries North are geologically mapped at surface over an area of approximately 10 hectares (Ha) (100,000 square metres), and this mapping correlates with distinct magnetic anomalies in the modelling. Previous explorers, such as Triad Minerals in 1994, implied that the Aries kimberlites expand at depth (WAMEX A40275) and is supported by this current modelling. The deepest borehole, AN15, drilled to a depth of 300 metres in 1994, terminated in 100% diamond bearing kimberlite rock and returned a 12-fold increase in microdiamond count compared to the surface, and importantly contained no wall-rock xenoliths or dilution (Peters, 2021). The Athena Kimberlite, located south of Aries, does not have a comparable magnetic signature to Aries and this potentially represents a different phase of kimberlite rock with less magnetic mineral content. Previous explorers delineated the non-magnetic pipes using ground gravity. The magnetic signatures in the south prospects are different, most likely as a result of low-density clays and weathered kimberlite as well as infill sediments associated with the diatremes. Board Change • Jan 19
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Founder & Non-Executive Director Catriona Wallace is the most experienced director on the board, commencing their role in 2016. Independent Director Darren Holden was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. 
