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Ordell Minerals Limited (ASX:ORD)

ALERT: Price-sensitive ASX Announcement for ORD
Current share price for ORD : $0.500 -0.34 (-40.48%)+
Announcement
Release
30 Apr 2026 8:00AM
Price at Release
$0.840
Full Release
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Summary
Ordell Minerals Limited's March 2026 Quarterly Activities Report highlights significant drilling results at the Barimaia Gold Project in Western Australia. The project has shown high-grade gold mineralisation, particularly at the McNabs East Main Zone, with notable intercepts of gold mineralisation. The company plans to conduct around 15,000 meters of additional drilling from May to July 2026 to explore extensions and new targets. As of March 31, 2026, Ordell had a cash position of $3.4 million, with major expenditures on exploration and evaluation. The company also provided a comparison of its use of funds against its Prospectus dated May 2024.
Key Points
  • High-grade gold mineralisation reported at McNabs East Main Zone.
  • Approximately 15,000 meters of additional drilling planned from May to July 2026.
  • Cash position of $3.4 million as of March 31, 2026.
  • Major cashflow movements include $1,136,000 on exploration & evaluation and $94,000 on employee costs.
  • The Barimaia Gold Project is located near Mount Magnet in Western Australia, adjacent to Ramelius Resources’ operations.
  • Corporate structure includes 58.0 million fully paid ordinary shares and a market capitalisation of $39.7 million.
  • Comparison of fund usage against the Prospectus shows an expenditure of $4.72 million on the Barimaia Project.
  • Heritage survey and geochemical sampling undertaken at the Goodia Project.
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.