Odessa Minerals Limited (ASX: ODE), an Australian-listed exploration company focused on the discovery and development of mineral resources, has announced the appointment of Mr Tim Goldsmith as Non-Executive Chairman. The company’s strategy involves identifying and acquiring high-quality exploration and development projects with the potential to deliver significant shareholder value. Mr Goldsmith, a mining executive with global experience, previously served as CEO of Rincon Ltd, where he led the strategic development of a lithium brine project and oversaw its acquisition by Rio Tinto for US$825 million. Mr Zane Lewis will transition from Non-Executive Chairman to a Non-Executive Director role within the company.
To bolster project generation and business development, Odessa Minerals has appointed Mr Sam Brooks as a consultant to provide technical expertise and Mr Matt Keusel to leverage his South American experience and networks. Mr Goldsmith’s track record is expected to provide invaluable experience as the company seeks to secure and advance existing and new assets.
In addition to these appointments, Odessa Minerals has undertaken an unbrokered placement to raise $1,150,000 (before costs). New shares were issued at A$0.007 per share, representing a 15.66% discount to the 20-day volume weighted average market price. Funds raised will be allocated to advancing existing projects, supporting project generation, covering placement costs, and providing working capital. The company also agreed to issue 83,000,000 Performance Rights to new appointees, management, and consultants, aligning them with shareholder interests.
Settlement of the first tranche of 105,000,000 New Shares is expected on 15 October 2025, with quotation on the ASX sought on 16 October 2025. Shareholder approval will be sought at the Company’s annual general meeting in November 2025, regarding the remaining New Shares subscribed for by Mr Bahen, Mr Lewis and Ms Cramer (or their respective nominee/s).
