ODY - Odyssey Gold

[yogi-in-oz]

Hi folks,

ODY ..... another Aussie oiler in USA ... another
oiler for the watchlist ... looking good for some
positive action in January .....

Time cycles ahead for ODY, over the next
few months .....

Key dates for ODY may be:

09122005 ..... minor

27122005 ..... minor

06-09012006 ..... spotlight on ODY

13-16012006 ..... significant financial news ... ???

20-23012006 ..... significant and positive move??

25-27012006 ..... finances ... same price as 16012006 ?

3001-09022006 ..... BIG news and rally here ???

02022006 ..... minor news

06022006 ..... minor ??

10-13022006 ..... finances ... same price as 16012006 ?

20022006 ..... minor and positive news

07-08032006 ..... minor and positive

16032006 ..... minor news ... same price as 20022006 ?

23-27032006 ..... 2 cycles here - changes and flat price?

29-31032006 ..... BIG news/move ...???

05042006 ..... positive news - same price as 20202006 ?

07042006 ..... significant and negative ... a high ???

happy days

yogi

 

[Traveller]

Do you have an update? ODY is drilling in the same gas fields as MAE. There are some positive current comments in that thread.
Be Well

 

[greggles]

Odyssey Gold has intersected significant visible gold in its maiden diamond drill hole targeting the eastern extension of the Bottle Dump Mine.

The gold was Intersected at 249m downhole (215m vertical depth) and is further confirmation of significant gold mineralisation at the prospect. Step-out RC drill holes have also returned high grade gold intercepts.

ODY share price surging the morning, currently up 83.1% to 13c on volume of 36 million shares.

Looks like Odyssey Gold are onto something here. Further drilling is planned to test the down-plunge and lateral extensions.

 

[Dona Ferentes]

just having a look at ODY .... was Odyssey Energy but seemed to get in a bit of a funk. (penultimate ASF post was in 2007). There was a 1 for 10 consolidation in 2014, then last year

Sept 2020 ... entered into a binding agreement to acquire an 80% interest in the high grade Stakewell Gold Project located in the Meekatharra-Cue region of Western Australia.
Oct 2020 ... acquired an 80% acquired an interest in the high-grade Tuckanarra Gold Project directly adjacent to the company's recently acquired Stakewell Gold Project from Canadian-listed gold producer, Monument Mining Limited.
Nov 2020 ... the company's subsidiary, Peregrine Gold Limited, has entered into an agreement to acquire a 100% interest in Pilbara Gold Exploration, which owns a suite of gold prospective tenements in the Pilbara region of Western Australia.

Nov ... equal capital return to shareholders equivalent to AUD0.02 per share, via a cash distribution of AUD0.01 per share and a pro-rata in-specie distribution, equating to AUD0.01 per share, of shares in Peregrine Gold Limited*, on the basis of one Peregrine share for every 20 Odyssey shares held with an attaching one for three AUD0.20 option.

And then: raised capital > some 125,000,000 shares at an issue price of $0.025 each to raise $3,125,000.

*Peregrine Gold Limited listed on ASX in April (code PGD) after its own capital raise of $2.5M (at 20c; now around trading 30c)

 

[greggles]

Nice trade. 7c to 21c and it's still looking bullish. No news since the announcement of 4 May so it's been riding high solely on the back of that. I'm just wondering how much further it has to go before stalling.

 

[Dona Ferentes]

and DOWN 25%


Odyssey Gold Limited is pleased to report preliminary assays on significant visible gold in its maiden diamond drill hole at Bottle Dump.

• Per the announcement on 4 May 2021, Odyssey intersected significant visible gold in its maiden diamond hole, a 70m step-out in the eastern extension of the developing Bottle Dump deposit.
• A selected length of core (28cm) containing the gold veinlet and nearby disseminated visible gold was submitted for analysis using the non-destructive PhotonAssay technique.
• The core was required to be split into three subsamples. The central sub-sample has exceeded the laboratory upper detection limit of 12,000g/t Au.
• A second calibration method is being undertaken to determine the value (with an increased upper detection limit of 35,000g/t Au) with results to follow in due course.

Maybe there was an element of anticipation that has not been met?

 

[TechnoCap]

and DOWN 25%


Odyssey Gold Limited is pleased to report preliminary assays on significant visible gold in its maiden diamond drill hole at Bottle Dump.

• Per the announcement on 4 May 2021, Odyssey intersected significant visible gold in its maiden diamond hole, a 70m step-out in the eastern extension of the developing Bottle Dump deposit.
• A selected length of core (28cm) containing the gold veinlet and nearby disseminated visible gold was submitted for analysis using the non-destructive PhotonAssay technique.
• The core was required to be split into three subsamples. The central sub-sample has exceeded the laboratory upper detection limit of 12,000g/t Au.
• A second calibration method is being undertaken to determine the value (with an increased upper detection limit of 35,000g/t Au) with results to follow in due course.

Maybe there was an element of anticipation that has not been met?

or just that the ALL ORDS has been smashed and profit takers are reducing their positions?

 

[finicky]

My guess is a lot of short term money just waiting for today's assay to come out, would have dumped whatever the market reaction, then rest selling to protect profit. The public offer completed Dec 2020 of 125,000,000 shares at an issue price of $0.025 per share leaves a lot more profit to tempt sellers as I see it.

I've been looking at it today but would still need a much lower price if I were to buy. They've generated a lot of shares to be at this early level of project development - fully diluted for a lot of options (all in the money) and some performance shares would bring them to 700m fpos. Also I saw that 15% of current issued equity belongs to vendors under a 24 month escrow condition. Its still not cheap in my book compared to some gold explorer/developer companies with much more advanced projects. Looks very prospective though.

 

[Dona Ferentes]

in Trading halt ... new exploration results

 

[Dona Ferentes]

Visible gold identified from surface at a newly discovered, untested prospect

• New discovery of visible gold near surface in a previously untested area has been made at the Blue Gino Prospect on the Stakewell tenements.
• Gold mineralisation has been identified in near-surface quartz veining. The mineralisation is associated with 1-2% pyrrhotite sulphides, within a vein system that extends for approximately 300m.
• The “Blue Gino” prospect was hidden under shallow cover and has never been drilled or mined.
• Additional exploration will be fast-tracked at Blue Gino, to develop drill targets for the next phase of drilling.
• Multiple further assays are pending and planning for the next phase of drilling is well advanced with re-mobilisation in coming weeks.

As stated elsewhere:
300m of strike. 40cm below surface and more visible gold.
Multiple targets, high grade hits.

Timing may be an issue for the June comp.

 

[Dona Ferentes]

Timing may be an issue for the June comp.

and indeed it might (My tip for June already logged). Usual VWAP drop when repricing after the pause

in Trading Halt pending a proposed capital raising

 

[mullokintyre]

cap raise at 12.5 to instos up to 10 mill.
the plebs get a go at 12.5 up to 5 mill.
Given the recent placements of stocks I have held(RRL and DCN as examples), will probably wait and hope it falls below the 12.5 issue price and can add below that price.

 

[Dona Ferentes]

cap raise at 12.5 to instos up to 10 mill.
the plebs get a go at 12.5 up to 5 mill.
..... will probably wait and hope it falls below the 12.5 issue price and can add below that price.

Mick, got from 03 to 24 June to see how the stock performs. The loyalty of shareholders is rewarded:

We also appreciate the enthusiastic support of our existing shareholders

I have seen much less balanced allocations with other stocks that recently did a cap raise. $5 million out of $15M is generous. ... though it could be scaled back. Only 166 retail holders tipping in $30K each will use up the $5M.

 

[mullokintyre]

Despite big crunch falls in nearly all other gold producers/explorers, ODY refuses to breach that 12.5 issue price.
Somebody working desperately to hold it above that price.

 

[Dona Ferentes]

Despite big crunch falls in nearly all other gold producers/explorers, ODY refuses to breach that 12.5 issue price.
Somebody working desperately to hold it above that price.

It's my pick for the June comp.

And definitely some big reversals on the Gold watchlist today

If you can keep your head when all about you
Are losing theirs ...

 

[finicky]

So 12.5 cents the price of the latest placement and SPP.

Can't take a serious interest in these guys no matter what they're finding, the rate of share creation is egregious. They are up to 860m shares, fully diluted for ops and perf shares, after a mere 6 months of operations in the company's new form. All the 116m options are already in the money with very unambitious ex prices ranging from 0.025 - 0.10
The performance shares vest when the inferred resource gets to 200kozs (1) with no share price condition.
This, imo, is a company set up for the already well remunerated insiders who take no risk.
At Jan 21 2023 the 80m vendor shares come out of escrow, so big dump likely coming then.

(1) "50,000,000 Performance Shares which vest and convert into Shares upon the delineation of an
independently assessed JORC Code inferred resource of at least 200,000 ounces of gold at a
minimum resource grade of 6.5g/t Au at the Stakewell Gold Project, within 30 months from
completion of the Stakewell Acquisition"

While low and declining volume, the chart looks precarious with a big gap below and having already broken a minor support @ 0.133 - 0.130 and with a lot of newly created shares @ 0.125 to add to supply. Maybe they have a positive announcement up their sleeve to let the placement holders out and entice SPP applicants.

Daily

 

[Dona Ferentes]

The closing date for SPP applications has been extended to 2:00pm (WST) on 5 July 2021 to allow the Company additional time to announce further exploration results expected to be received shortly.

... so, with SP hovering around the offer price of $0.125, then it's likely interest has been muted, so far.

Timeo danaoas.

 

[Dona Ferentes]

The closing date for SPP applications has been extended to 2:00pm (WST) on 5 July 2021 to allow the Company additional time to announce further exploration results expected to be received shortly.

... so, with SP hovering around the offer price of $0.125, then it's likely interest has been muted, so far.

Timeo danaoas.

And SPP withdrawn.... punters fleeing

DNH

 

[mullokintyre]

Seems that folks are desperate to get out of this one.
Tad under a million shares on the buy side, nearly 8 mill on the sell side.
Just how low can it go ???
Still thing the next set of drill results will provide a boost, the question is , where is the entry point?
Up today on smallish volume, but would like to pick them up below 0.08.
Mick

 

[mullokintyre]

Well, I took a bit of a punt today and bought back in at .07.
It may go lower, I do not know.
But seeing as the gold producers have all had a run up and are probably going to consolidate at best for a while, the explorers and minnows will likely be next.
Mick