OD6 Metals Limited is an ASX-listed critical-minerals explorer developing three projects: the Quinn Fluorspar Project in Nevada, the Splinter Rock Rare Earths Project in Western Australia, and Gulf Creek Copper in NSW. Its immediate focus is advancing high-grade fluorspar at Quinn through drilling, bulk sampling and metallurgical work, while progressing rare-earth processing studies and copper exploration. The company proposes to rename itself Adaven Limited.

• A$5m placement, with the ability to accept oversubscriptions.

• Offer Price: A$0.095 per share.

Discount

• Discount to last close price of A$0.110/sh: 13.6%.

• Discount to 5 trading day VWAP of A$0.112/sh: 15.1%.

• Discount to 10 trading day VWAP of A$0.114/sh: 16.5%.

The A$5 million placement funds are intended to support near-term advancement of Quinn and broader corporate objectives:

• Maiden drilling program at the Quinn Fluorspar Project, Nevada
• Bulk sampling and associated assaying at Quinn
• Metallurgical test work, including evaluation of ore-sorting and potential higher-value acidspar pathways
• Resource modelling and geophysical programs
• Ongoing permitting activities for Quinn
• Payment of deferred acquisition consideration for the Quinn Project
• Assessment of potential fluorspar and other critical-minerals acquisition opportunities
• General working capital
• Costs associated with the placement offer

OD6 Metals Limited is an ASX-listed critical minerals company building a diversified portfolio across fluorspar, rare earth elements and copper. Its key growth asset is the Quinn Fluorspar Project in Nevada, USA, a district-scale epithermal fluorspar system covering 226 mining claims across approximately 4,670 acres. Historical drilling at Quinn’s Horseshoe deposit returned high-grade intersections including 14.3m at 70.9% CaF₂ from surface and 25.8m at 46.2% CaF₂ from 0.9m, supporting the potential for direct-shipping metspar material and further upside from acidspar processing.

The company also owns 100% of the Splinter Rock Rare Earths Project in Western Australia, which hosts a 682Mt Mineral Resource at 1,338ppm TREO, including a higher-grade 119Mt zone at 1,632ppm TREO. In New South Wales, OD6 is advancing Gulf Creek Copper, where early drilling has returned copper grades of up to 4.6%. OD6 intends to rename itself Adaven Limited, subject to shareholder approval.

• High-grade US fluorspar opportunity: Quinn Fluorspar is a district-scale project in Nevada comprising 226 mining claims over approximately 4,670 acres, located in a tier-one mining jurisdiction with access to major US end markets.
• Compelling historical grades: Historical drilling at the Horseshoe deposit returned 14.3m at 70.9% CaF₂ from surface and 25.8m at 46.2% CaF₂ from 0.9m, indicating potential for high-grade direct-shipping metspar material.
• Large exploration runway: The Horseshoe–Big Jim corridor extends across a 1.5km target area and includes multiple prospective targets, including North Horseshoe Canyon, Lithocap, Rocket and Spar. Historical workings at Big Jim and Mammoth also point to high-grade fluorspar potential.
• Clear near-term catalysts: Planned maiden drilling, bulk sampling, assaying, metallurgical testwork, geophysics, resource modelling and permitting are expected to materially advance the Quinn development pathway.
• Potential for higher-value product: Ore-sorting and metallurgical work is underway to assess whether Quinn material can be upgraded beyond metspar into higher-value acidspar products.
• Exposure to critical-mineral supply security: Fluorspar is recognised as a critical mineral across several major jurisdictions, while global supply is concentrated in China, Mongolia and Mexico. Demand is linked to semiconductor etching, lithium-ion batteries, nuclear fuel and defence applications.
• Substantial rare-earth resource base: OD6 owns 100% of the Splinter Rock Rare Earths Project in Western Australia, which hosts a 682Mt Mineral Resource grading 1,338ppm TREO, including 119Mt at 1,632ppm TREO in the higher-grade centre.
• Rare-earth development progress: ANSTO testwork is being scaled up to optimise heap leaching, verify impurity removal and support bulk-production pathways, while offtake discussions span North America, Europe and Asia.
• Additional copper upside: Gulf Creek Copper in New South Wales has returned Phase 1 drilling grades of up to 4.6% copper, providing another exploration catalyst as drilling continues.
• Strengthened funding position: The A$5 million placement at A$0.095 per share provides funding for Quinn advancement, deferred acquisition consideration, potential acquisitions, working capital and offer costs