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An update from DevEx Resources Ltd ( (AU:DEV) ) is now available.
DevEx Resources Ltd, an Australian uranium explorer, is advancing its Nabarlek and Murphy West projects along the highly prospective McArthur Basin in the Northern Territory, a region already hosting more than 700 million pounds of uranium endowment. The company’s strategy centres on systematic geochemical, mapping and upcoming drilling campaigns aimed at defining large-scale unconformity-type uranium deposits within this tier-one jurisdiction.
During the March 2026 quarter, DevEx refined drilling targets at Nabarlek through ongoing field mapping and surface geochemical sampling across its expanded tenement package, while also completing the acquisition of nine exploration licence applications in the Alligator Rivers Uranium Province from Rio Tinto Exploration. At Murphy West, the company identified multiple kilometre-scale multi-element soil anomalies with geochemical signatures comparable to Laramide Resources’ Junnagunna uranium deposit, and it is preparing drill permit applications for a maiden 2026 program.
On the corporate front, DevEx raised $38.9 million via a placement and share purchase plan, ending the quarter with $36.7 million in cash to fund its enlarged exploration programs at Nabarlek and Murphy West and to finalise additional tenure acquisitions from Alligator Energy. This strengthened balance sheet underpins an aggressive exploration push and provides flexibility for further corporate initiatives aimed at enhancing shareholder value, reinforcing DevEx’s positioning in the emerging Northern Territory uranium sector.
More about DevEx Resources Ltd
DevEx Resources Ltd is an Australian mineral exploration company focused on uranium projects in the Northern Territory, particularly along the uranium-endowed margins of the McArthur Basin. Its key assets include the 100%-owned Nabarlek Project within the Alligator Rivers Uranium Province and the Murphy West Project on the southern McArthur Basin margin, both targeting large-scale unconformity-type uranium discoveries.
YTD Price Performance: 17.14%
Average Trading Volume: 1,272,376
Technical Sentiment Signal: Buy
Current Market Cap: A$145.6M
See more insights into DEV stock on TipRanks’ Stock Analysis page.