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Olympio Metals Limited (ASX:OLY)

ALERT: Price-sensitive ASX Announcement for OLY
Current share price for OLY : $0.047 -0.004 (-7.84%)+
Announcement
Release
11 May 2026 8:19AM
Price at Release
$0.051
Full Release
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Summary
Olympio Metals Limited has achieved the option commitment milestone to acquire 51% ownership of the Bousquet Gold Project located in Quebec, Canada. The company's exploration at the Bousquet site has yielded positive results, and it plans to intensify its exploration activities in May 2026. Olympio has also completed the sale of its Dufay Gold Project, receiving a higher all-cash payment due to a takeover of the buyer, Fokus Mining Corp. The company is financially strong, with substantial cash reserves and further funding recently approved.
Key Points
  • Olympio has reached the milestone to earn 51% of the Bousquet Gold Project in Quebec, Canada.
  • Remaining commitments include C$500k option payments, C$250k worth of shares, and C$1m expenditure over 5 years.
  • Olympio completed the divestment of 100% of the Dufay Gold Project to Fokus Mining Corp.
  • The consideration for the Dufay divestment increased to CAD$684k cash.
  • Olympio is well funded with $1.92m in cash and an additional $1.3 million approved in Tranche 2.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.