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ASX:DVP

13 stories mentioning ASX:DVPUpdated 19h ago

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Asia

Develop Global Says Broker Downgrade Likely Behind Share Price Fall

Develop Global (ASX:DVP) said a broker research report released after the market closed on Tuesday that lowered its 12-month price target was the only explanation it was aware of for a sharp decline in its share price and elevated trading volumes, according to its response to an Australian Securities Exchange (ASX) price query filed with the Australian bourse late Wednesday.The ASX sought the company's response after its shares fell to an intraday low of AU$4.41 on Wednesday from a Tuesday closing price of AU$5.58, amid a surge in trading volume, per the filing.The company confirmed that it is complying with the ASX continuous disclosure requirements, the filing added.

ASX:DVP
Asia

Develop Global Reports Lower June Quarter Copper Equivalent Production

Develop Global (ASX:DVP) said it produced 4,625 tonnes of copper-equivalent from its Woodlawn copper-zinc mine in New South Wales in the June quarter, with sales of 4,547 tonnes of copper-equivalent, according to a Tuesday Australian bourse filing.It produced 12,689 tonnes of copper equivalent from the mine in the June quarter of 2025, an earlier filing showed.The company reported quarterly revenue of AU$147 million and a cash balance of AU$123 million as at June 30, with Trafigura debt drawn of AU$112 million and AU$388 million remaining in undrawn facilities.The company's shares rose 1% in recent Tuesday trade.

ASX:DVP
Asia

Qube Holdings to Exit Australia's Benchmark Share Index Ahead of Rubik Australia Acquisition

S&P Dow Jones Indices said Qube Holdings (ASX:QUB) will be removed from the S&P/ASX 200 Index before the market opens on Thursday, subject to final court approval of its acquisition by Rubik Australia, according to a July 3 report.Develop Global (ASX:DVP) will replace Qube in the benchmark index as part of the index rebalancing, effective from the same date.

ASX:DVPASX:QUB
Asia

MLG Oz's Develop Global Contract Positions it Alongside Emerging Mineral Producer, Euroz Hartleys Says

MLG Oz's (ASX:MLG) contract with Develop Global (ASX:DVP) positions the firm alongside an emerging mineral producer, while also drawing on MLG's prior experience in the lithium services market, Euroz Hartleys said in a Tuesday note.MLG was awarded a fully integrated open pit mining and crushing services contract at the inaugural mining stage of the Pioneer Dome lithium project in Western Australia. The initial 12 month campaign is expected to commence in July and generate around AU$70 million of revenue, contracted in full within fiscal 2027.The integrated scope is important, spanning drill and blast, load and haul, crushing and site services under a single accountable framework.The investment firm maintained its buy recommendation and price target of AU$1.06 per share.MLG Oz's shares were up 5% in recent Tuesday trade, while Develop Global's shares added about 1%.

ASX:DVPASX:MLG
Asia

Develop Awards AU$70 Million Pioneer Dome Mining Contract to MLG Oz

Develop Global (ASX:DVP) awarded a AU$70 million open pit mining and crushing contract to MLG Oz (ASX:MLG) for its Pioneer Dome lithium mine, with the scope including drill and blast, load and haul, crushing and screening, and all other supporting surface activities, according to a Tuesday Australian bourse filing.The company said the contract has an approximate duration of 12 months, with MLG's mobilization targeted for mid-July, mining operations scheduled to start in August, and crushing operations slated to begin in September, the filing added.Assay results have been received for 123 of 234 holes from the 20,000-meter drilling program completed at Pioneer Dome in May, with results of up to 32 meters at 1.71% lithium oxide and 51 parts per million tantalum pentoxide from 79 meters, it added.

ASX:DVPASX:MLG
Asia

Core Lithium Says First Shipment of Lithium Fines, Spodumene Concentrate Departs Northern Territory Port

Core Lithium (ASX:CXO) said the first shipment of 20,000 tonnes of lithium fines and 5,000 tonnes of stockpiled spodumene concentrate departed from the Darwin port in the Northern Territory, according to a Monday Australian bourse filing.The company also said that Develop Global (ASX:DVP) mobilized to site, and underground decline development activities began at its Finniss lithium project in the Northern Territory. Ground support for the BP33 deposit portal face location was completed in preparation for site handover and commencement of the portal cut.First development ore from the BP33 deposit is expected in mid-2027.

ASX:CXOASX:DVP
Asia

Develop Global Names Interim Chief Financial Officer

Develop Global (ASX:DVP) said Felicity Hughes was named as its interim chief financial officer, following the resignation of Ben MacKinnon, effective July 1, according to a Monday Australian bourse filing.Hughes was most recently regional CFO at Newmont (ASX:NEM).

ASX:DVPASX:NEM
Asia

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday:Minerals 260 (ASX:MI6): +13%, AU$0.85Pantoro Gold (ASX:PNR): +12%, AU$2.57Develop Global (ASX:DVP): +10%, AU$6.90PLS Group (ASX:PLS): +9%, AU$6.46Elevra Lithium (ASX:ELV): +9%, AU$11.65Genesis Minerals (ASX:GMD): +9%, AU$5.24Bellevue Gold (ASX:BGL): +9%, AU$1.33Almonty Industries (ASX:AII): +9%, AU$24.04Imdex (ASX:IMD): +9%, AU$4.01Sandfire Resources (ASX:SFR): +8%, AU$19.88

ASX 200ASX:AIIASX:BGLASX:DVPASX:ELVASX:GMDASX:IMDASX:MI6ASX:PLSASX:PNRASX:SFR
Asia

Develop Global Makes Final Investment Decisions for Sulphur Springs, Pioneer Dome Projects

Develop Global (ASX:DVP) has made final investment decisions and secured funding for the development of its Sulphur Springs copper-silver-zinc project and Pioneer Dome lithium project, backed by a debt facility and warrant package of about AU$570 million from Trafigura, according to a Wednesday Australian bourse filing.The company said Trafigura has committed to offtake agreements for copper and zinc concentrates from Sulphur Springs, with construction underway and the first concentrate set for the June 2028 quarter.Trafigura has also committed to direct shipping ore (DSO) offtake from Pioneer Dome, targeting first sales in the December quarter, the filing added.Develop has entered into a binding cooperation agreement with Trafigura to partner on potential future opportunities, with the Sulphur Springs project to be renamed Yitirrti at the invitation of the Nyamal First Nations people, the filing added.

ASX:DVP
Asia

GR Engineering Services Named Preferred EPC Contractor for Western Australia Project

GR Engineering Services (ASX:GNG) was selected as the preferred contractor by Venturex Sulphur Springs, a subsidiary of Develop Global (ASX:DVP), to deliver engineering, procurement, and construction (EPC) works for the 1.5 million tonnes per annum Sulphur Springs copper-silver-zinc project in Western Australia, according to a Wednesday filing with the Australian bourse.The contract is estimated to be worth AU$295 million, per the filing.The contract includes design, procurement, construction, installation, and commissioning, with early works already in progress and long-lead items already ordered, the filing said.The EPC contract is expected to be formally executed soon, the filing added.

ASX:DVPASX:GNG
Asia

Develop Global Says Infill Drilling Results Exceed Resource Model at Western Australia Project

Develop Global (ASX:DVP) said infill drilling results have exceeded the resource model at its Pioneer Dome lithium project in Western Australia, according to a Thursday Australian bourse filing.The results were up to 32 meters at 1.71% lithium oxide and 52 parts per million tantalum pentoxide, from 64 meters and 37 meters at 1.62% lithium oxide and 51 parts per million tantalum pentoxide, from 64 meters.The company said a final investment decision (FID) is targeted next month based on 850,000 tonnes of direct shipping ore (DSO), with current market prices indicating above AU$500 per tonne, with the FID release to include forecast costs and cash flows.Pre-production capital cost is estimated at AU$35 million to AU$40 million, potentially to be funded through a project finance debt facility with the preferred offtake partner, with first DSO sales targeted in the December 2026 quarter, the filing added.At spot carbonate prices, indicative DSO pricing is in the range of $362 to $430 per tonne CIF China for a 1.2% lithium oxide product, based on shortlisted non-binding offtake proposals, it added.The company's shares rose 1% in recent Thursday trade.

ASX:DVP
Asia

Develop Global Secures AU$274 Million Underground Mining Contract With Core Lithium

Develop Global (ASX:DVP) has secured a AU$274 million contract with Core Lithium (ASX:CXO) to deliver all underground development and production works at the Finniss lithium project in Australia's Northern Territory, according to a Wednesday Australian bourse filing.The contract covers surface infrastructure and portal development at the BP33 mine, with mobilization expected in June and mining operations scheduled to start in July, per the filing.The deal has a minimum three-year term with a two-year extension option and is expected to generate around AU$120 million in annual revenue on a steady state basis, the filing said.The company has also started work on its newly awarded five-year contract for OceanaGold's Waihi North project in New Zealand, the filing added.

ASX:CXOASX:DVP
Asia

Develop Global Declares Commercial Production at New South Wales Copper-Zinc Project; Shares Reach 14-Year Peak

Develop Global (ASX:DVP) said it declared commercial production at the Woodlawn copper-zinc project in New South Wales after achieving and exceeding steady-state production rate of 850,000 tonnes per year during the March quarter, according to a Thursday Australian bourse filing.The Woodlawn production was stress-tested at rates in excess of its nameplate capacity, reaching a mining rate of 966,000 tonnes per annum and a processing rate of 932,000 tonnes per annum.Ore mined at the project rose 46% quarter over quarter to 181,973 tonnes, while copper-equivalent production jumped 88% to around 3,150 tonnes in the March quarter. Concentrate production increased 50% to 14,119 tonnes.The company is also targeting a final investment decision for the Sulphur Springs copper-silver-zinc project in Western Australia in the June quarter.Develop Global's shares rose past 5% in recent trading on Thursday and earlier reached a 14-year high point.

ASX:DVP

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