Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Develop Global Limited ( (AU:DVP) ) has issued an announcement.
Develop Global has reached steady-state production at its Woodlawn copper mine in New South Wales, with March output lifting the operation above its nameplate capacity of 850,000 tonnes per annum. The company’s strategy of extensive infill drilling, early development and use of low-grade ore during ramp-up has derisked the mine and positioned it for consistent, flexible operations.
The March quarter delivered sharp gains across key metrics versus the December period, with ore mined up 46.4%, processing volumes up 25.2% and metal concentrate tonnage up 50%. With diesel accounting for just 1.3% of Woodlawn’s costs and no current supply issues, Develop expects the mine to generate significant free cash flow, reinforcing its financial outlook ahead of the upcoming quarterly results update.
The most recent analyst rating on (AU:DVP) stock is a Buy with a A$5.00 price target. To see the full list of analyst forecasts on Develop Global Limited stock, see the AU:DVP Stock Forecast page.
More about Develop Global Limited
Develop Global Limited is an Australian resources company focused on underground base metals mining, with a key asset in the Woodlawn copper mine in New South Wales. The company targets efficient, low-risk production through upfront investment in exploration, infill drilling and development, with a cost structure that limits diesel exposure and draws electricity from the east coast grid.
Average Trading Volume: 1,279,243
Technical Sentiment Signal: Buy
Current Market Cap: A$1.55B
For detailed information about DVP stock, go to TipRanks’ Stock Analysis page.