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DevEx Resources Ltd ( (AU:DEV) ) has shared an announcement.
DevEx Resources has completed a two-tranche capital raising, including a placement and share purchase plan, securing a total of $38.9 million before costs. The second tranche, approved by shareholders on 22 January 2026, involved the issue of 110,266,988 new shares at $0.145 each to raise about $16 million, with proceeds earmarked for acquiring further tenure in the Alligator Rivers Uranium Province, funding an expanded 2026 exploration program at the Nabarlek and Murphy West uranium projects, and providing general working capital, strengthening the company’s exploration pipeline and strategic footprint in a key uranium district.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.24 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 Limited (ASX: DEV) is an Australian mineral exploration company focused on uranium assets, including its consolidated Nabarlek and Murphy West Projects in the Alligator Rivers Uranium Province in the Northern Territory, where it is actively pursuing expanded exploration and additional tenure to build its position in the uranium sector.
YTD Price Performance: 37.14%
Average Trading Volume: 1,657,686
Technical Sentiment Signal: Buy
Current Market Cap: A$141M
For a thorough assessment of DEV stock, go to TipRanks’ Stock Analysis page.