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DevEx Resources Ltd ( (AU:DEV) ) just unveiled an announcement.
DevEx Resources has overhauled its leadership team, appointing former Rio Tinto executive Marnie Finlayson as managing director and experienced exploration geologist Matthew Yates as a non-executive director, while simultaneously executing a series of strategic project acquisitions and financings to accelerate growth. The company has struck binding deals to acquire Alligator Energy’s uranium exploration tenure and nine Rio Tinto licence applications adjacent to its Nabarlek Uranium Project in the Alligator Rivers Uranium Province, consolidating more than 50km of under-explored uranium-bearing structures and expanding its footprint around high-grade deposits. At Nabarlek, DevEx has defined priority drill targets at the Sandfire prospect, secured environmental approvals for drilling in 2026, and advanced soil sampling and drill planning at the Murphy West uranium project. In Queensland, metallurgical test work at the Kennedy rare earth project has demonstrated strong recoveries and favourable leach characteristics consistent with a simple heap leach flowsheet for its ionic adsorption clay resource, underscoring its potential as a strategically important domestic REE asset. To fund these initiatives and its expanded exploration program, DevEx raised approximately $38.9 million through an institutional placement and oversubscribed share purchase plan, leaving it well capitalised to pursue its acquisition-led growth strategy and further corporate opportunities aimed at enhancing shareholder value.
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 mineral exploration company focused on uranium and rare earths, with key projects in the Northern Territory’s Alligator Rivers and southern McArthur Basin, as well as the Kennedy rare earth project in Queensland. The company targets high-grade uranium corridors and ionic adsorption clay rare earth deposits, positioning itself within critical minerals supply chains increasingly important for energy transition and advanced technologies.
YTD Price Performance: 8.57%
Average Trading Volume: 1,409,761
Technical Sentiment Signal: Hold
Current Market Cap: A$114M
For detailed information about DEV stock, go to TipRanks’ Stock Analysis page.