Ordell Secures AU$3.85 Million to Fast-Track Barimaia Gold Exploration and Broader Drilling Programs.

Ordell Minerals Limited (ASX: ORD) has secured AU$3.85 million through a successful share placement to fast-track exploration activities at its flagship Barimaia Gold Project in Western Australia. The funds will also support initial exploration work at the Goodia and Fisher South projects, as well as general corporate costs. A total of 11,323,529 new shares will be issued at AU$0.34 each, reflecting an 18.1% discount to the company’s last closing price and a 9.6% discount to its 15-day VWAP.

Settlement of the placement is expected on 24 July 2025, with shares being issued under ASX Listing Rules 7.1 and 7.1A. Managing Director Michael Fowler expressed gratitude for strong investor backing, which will enable aggressive exploration efforts and the anticipated release of a Maiden Mineral Resource Estimate later this year. Argonaut Securities acted as Lead Manager and Bookrunner for the placement. A busy period of drilling and news updates is expected in the coming months.

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