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An update from DevEx Resources Ltd ( (AU:DEV) ) is now available.
DevEx Resources has raised approximately A$6.9 million through an oversubscribed Share Purchase Plan, more than doubling its initial A$3 million target after strong demand from existing shareholders. The board chose to accept all valid applications, resulting in the issue of 47.7 million new shares at A$0.145 each, matching the price of a recent placement. The funds will be used to support recently acquired exploration tenure from Rio Tinto Exploration and Alligator Energy in the Alligator Rivers Uranium Province, underpinning an expanded exploration campaign across its consolidated Nabarlek and Murphy West uranium projects in 2026 and providing additional working capital, thereby reinforcing DevEx’s strategic push to build a leading position in this key uranium district.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
More about DevEx Resources Ltd
DevEx Resources Ltd is an Australian exploration company focused on uranium and other minerals, with a growing presence in the Alligator Rivers Uranium Province in the Northern Territory. The company is consolidating a dominant landholding across the Nabarlek and Murphy West projects, positioning itself to pursue an expanded uranium exploration strategy in a region regarded as premier exploration ground.
YTD Price Performance: 86.17%
Average Trading Volume: 1,222,803
Technical Sentiment Signal: Buy
Current Market Cap: A$96.62M
For detailed information about DEV stock, go to TipRanks’ Stock Analysis page.