OD6 Metals (ASX: OD6) – explores REE in Esperance
COMPANY SCOREBOARD
| Pro Plus | Pro | Con Plus | Con |
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ABOUT COMPANY
OD6 Metals (OD6) (https://www.od6metals.com.au/) explores REE in the Esperance region WA. Its flagships are the Splinter Rock Project and Grass Patch Project.
The company was listed in June 2022 by raising $8m@20c.
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| OD6 | 0.073 | 127690173 | 9321382.6290 | 3/0 |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
| 1100 | 53.85% | 51.52% | 10.71% | 2500000 | last raise $1.5m@7.1c |
30m@30c options expires in 2025.
FLAGSHIP ASSETS
Splinter Rock Project Esperance WA
Grass Patch Project Esperance WA
Project Data
Splinter Rock
A >30km historical air core drill traverse through the middle of the Splinter Rock tenement that has intersected an enriched REE saprolitic zone between 5m and 37m in thickness with holes ranging between 300ppm to 600ppm NdPr.
The drilling results were similar to those of DRE/HAS. Some intersections were even thicker.
Grass Patch
The previous work was primarily for gold, with limited sampling for REE.
Below are the project’s resources:
SUMMARY
$12m plus EV is expensive in a region where drilling success is limited.