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Ordell Minerals Limited (ASX:ORD)

ALERT: Price-sensitive ASX Announcement for ORD
Current share price for ORD : $0.475 -0.205 (-30.15%)+
Announcement
Release
14 May 2026 9:46AM
Price at Release
$0.680
Full Release
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Summary
Ordell Minerals Limited, listed as ASX: ORD, has secured $7 million through a placement involving institutional and sophisticated investors, aimed at accelerating their exploration and drilling programs. This funding will support an extensive 15,000-meter drilling initiative over the next three months at the Barimaia Gold Project in Western Australia, with a specific focus on expanding high-grade gold mineralisation in the McNabs East area. The raised capital will also facilitate early-stage exploration at Goodia and Fisher South Gold Projects, alongside covering the placement costs and general working capital. New shares, priced at $0.63, represent a discount to Ordell's recent stock prices, indicating a strategic effort to attract substantial investment and support ongoing and future exploratory activities.
Key Points
  • Ordell Minerals Limited announced a $7M capital raise.
  • New drilling program underway at Barimaia Gold Project, WA.
  • Targeting high-grade gold at McNabs East and new discoveries.
  • Placement consists of 11,111,112 new shares at $0.63 each.
  • 7.4% discount to last close price, 16.5% discount to 15-day VWAP.
  • Argonaut Securities acted as Lead Manager and Bookrunner.
  • New shares allotment expected on 22 May 2026.
  • Drilling planned to cover 15,000 meters over three months.
  • Focus on expanding mineralisation at McNabs East.
  • Ongoing exploration at Goodia and Fisher South projects.
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.