Join our daily newsletter At The Bell to receive exclusive market insights
- Odyssey Gold (ODY) has recorded another day of sustained share price increase, following the announcement of stellar gold results
- The company revealed on Tuesday it had intercepted visible gold in its first diamond drill hole at the Bottle Dump deposit
- The result saw Odyssey’s share price jump into the green, with gains of over 80 per cent recorded on May 4
- The materials stock’s securities remained up over Wednesday, and were trading for 20 cents per share in mid-afternoon trade on Thursday
- Commenting on the results and share price increase, Odyssey’s Executive Director said it had been an eventful week for the explorer
- Shares in ODY are trading at 18 cents
Odyssey Gold (ODY) has recorded its third day of sustained share price increase, following the announcement of stellar gold results.
The WA gold explorer announced on Tuesday it had intercepted visible gold in its first diamond drill hole at the Bottle Dump deposit.
Bottle Dump forms part of the company’s wider Tucknarra Project in the Murchinson-Cue region of WA.
The visible gold result from the deposit saw Odyssey’s share price jump into the green, with gains of over 80 percent recorded on May 4, with the share price ending the day hovering around 14 cents.
In comparison, the company’s securities started the week on Monday, May 3, trading at just 7.1 cents per share.
The materials stock’s share price remained in the high teens throughout trade Wednesday, May 5, and sustained its upward trajectory into Thursday.
Odyssey’s securities were trading for 20 cents per share in mid-afternoon trade on May 6, before closing the day at 19 cents — up 18.8 per cent.
Commenting on the recent success at Bottle Dump, Odyssey’s Executive Director Matthew Syme said it had been an eventful week.
“We’ve certainly found something in the last few days, which I’m sure people are starting to take notice of,” he said in an interview with The Market Herald.
“That’s a very, very rare occurrence to see solid gold like that, visible gold in core is exciting enough by itself but it’s usually just small flakes of gold.”
He explained all of the company’s gold assets are historic mines, which are usually under-explored and full of unmined gold.
“We thought we’d done pretty well when we acquired our first project called Stakewell up in the Murchison Goldfields, then we subsequently acquired another project called Tukanarra, and between those two projects actually we have five old historic mining pits.”
“There’s a hell of a lot of gold around in that environment and we were itching to get the company relisted so we could start exploring, and low and behold we’re here today because we’re coming up trumps very early in the piece I suppose.”
Odyssey is still carrying out drilling at Bottle Dump, with the campaign to last for several months.
Shares in ODY are trading at 18 cents.
