Odyssey raises cash for gold hunt
PERTH (miningweekly.com) – ASX-listed Odyssey Gold will raise A$15-million through a share placement and share purchase plan (SPP) to accelerate exploration in Western Australia.
The company on Monday reported that it had received commitments from institutional and sophisticated investors for the placement of 79.8-million shares, at a price of 12.5c each, to raise an initial A$10-million.
The share placement will be conducted under Odyssey’s existing placement capacity, and will not require shareholder approval.
In addition, the junior will also undertake an SPP allowing eligible shareholders to subscribe for up to A$30 000 worth of new shares in the company, also at 12.5c each.
The SPP is expected to raise an additional A$5-million.
Odyssey on Monday said that proceeds from the share placement and the SPP would be used to accelerate exploration and development of the Tuckanarra and Stakewell gold projects, including exploration drilling, resource development drilling and metallurgical studies.
Odyssey in March this year launched its maiden drilling programme, and has over 10 000 m of reverse circulation and 2 000 m of diamond drilling planned, targeting a mix of near-mine and brownfield targets at both the Tuckanarra and Stakewell projects.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation