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Develop Global Limited
(OTC:DVP)
Develop Global Limited (DVP) vs. iShares MSCI Australia ETF (EWA)
Develop Global Limited Business Overview & Revenue Model
Develop Global Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 231.91M | 231.47M | 147.23M | 67.78M | 4.51M | 0.00 |
| Gross Profit | 89.79M | 22.13M | 100.07M | -11.13M | 873.35K | -415.39K |
| EBITDA | 19.90M | 26.96M | 14.13M | -1.33M | -8.63M | -89.37M |
| Net Income | 72.39M | 72.39M | -12.13M | -17.89M | -9.22M | -89.88M |
Balance Sheet | ||||||
| Total Assets | 898.08M | 898.08M | 471.23M | 245.80M | 204.88M | 57.32M |
| Cash, Cash Equivalents and Short-Term Investments | 58.63M | 58.63M | 41.50M | 21.77M | 43.21M | 16.83M |
| Total Debt | 158.29M | 158.29M | 40.81M | 28.74M | 4.23M | 103.78K |
| Total Liabilities | 267.67M | 267.67M | 121.79M | 96.14M | 60.33M | 21.72M |
| Stockholders Equity | 629.96M | 629.96M | 349.27M | 149.66M | 144.55M | 35.60M |
Cash Flow | ||||||
| Free Cash Flow | -48.10M | -47.71M | -22.75M | -27.76M | -15.61M | -5.01M |
| Operating Cash Flow | 12.62M | 12.62M | 11.00M | 12.24M | -6.62M | -2.43M |
| Investing Cash Flow | -84.40M | -84.40M | -32.15M | -38.62M | -25.47M | -2.43M |
| Financing Cash Flow | 88.90M | 88.90M | 40.88M | 4.92M | 58.49M | 19.43M |
Develop Global Limited Technical Analysis
Develop Global Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $2.73B | 22.45 | 6.57% | 2.59% | 4.41% | 14.44% | |
66 Neutral | AU$1.44B | 15.98 | 14.22% | ― | 57.22% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
46 Neutral | AU$1.17B | ― | ― | ― | ― | ― | |
45 Neutral | AU$852.95M | -26.22 | -13.97% | ― | 620.73% | -21.19% | |
38 Underperform | AU$2.11B | -34.02 | -50.19% | ― | ― | -20.85% |
Develop Global Limited Corporate Events
Develop Global Limited has announced a change in the director’s interest, specifically regarding William James Beament, who has been granted 171,608 Performance Rights as part of his FY26 Short-Term Incentive opportunity. This grant, approved by shareholders, is subject to performance hurdles outlined in the company’s 2025 Notice of AGM, potentially impacting the company’s executive compensation strategy and aligning management incentives with shareholder interests.
Develop Global Limited announced the issuance of 171,608 performance rights under an employee incentive scheme. These securities are unquoted and subject to transfer restrictions, reflecting the company’s ongoing efforts to incentivize and retain its workforce, which could strengthen its operational capabilities and market positioning.
Develop Global Limited held its Annual General Meeting, where the Chairman introduced board members and highlighted the recent appointment of Duncan Bradford, who brings significant experience from his previous role at Maaden. The meeting included formalities such as the re-appointment of Bradford and engagement with shareholders, reflecting the company’s commitment to governance and stakeholder relations.
Develop Global Limited has announced the appointment of Duncan Bradford as a director effective from November 10, 2025. The Initial Director’s Interest Notice reveals that Mr. Bradford currently holds no securities or interests in the company, indicating a neutral stance in terms of financial involvement. This appointment may impact the company’s governance and strategic direction, but no immediate implications for stakeholders are evident from the announcement.
Develop Global Limited announced that Duncan Bradford has ceased to be a director of the company as of November 10, 2025. The final director’s interest notice reveals that Bradford held no relevant interests in securities, either as a registered holder or otherwise, and had no interests in any contracts. This change in directorship may impact the company’s governance structure, but no immediate implications for stakeholders were disclosed.
Develop Global Limited addressed a query from ASX Compliance regarding alleged non-compliance with Listing Rule 14.4. The company explained the procedural steps taken during its recent annual general meeting, including the temporary retirement and re-appointment of Duncan Bradford as a Non-Executive Director. This move underscores Develop Global’s commitment to adhering to governance protocols while ensuring continuity in its board leadership.
Develop Global Limited has breached ASX Listing Rule 14.4 by not including the election of newly appointed director Duncan Bradford in its recent Annual General Meeting. The ASX has mandated the company to explain the breach and outline steps to ensure compliance, impacting its governance practices and stakeholder confidence.
Develop Global Limited’s AGM presentation highlights its strategic focus on energy transition metals and underground mining services. The presentation underscores the company’s commitment to advancing its projects, such as the Kangaroo Caves, Sulphur Springs, and Woodlawn, which are pivotal for its growth and market positioning. These developments are expected to enhance the company’s operational capabilities and strengthen its industry standing, potentially benefiting stakeholders through increased resource availability and improved financial outcomes.
Develop Global Limited announced that all resolutions at its 2025 Annual General Meeting were passed by a poll. The successful resolutions included the adoption of the remuneration report, re-election of an independent director, approval of the employee awards plan, and ratification of share placements, which indicate strong shareholder support and potential positive impacts on the company’s governance and strategic initiatives.
Develop Global Limited has announced the quotation of 541,118 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code DVP. This issuance is part of an employee incentive scheme and is not subject to transfer restrictions, potentially enhancing employee engagement and aligning their interests with the company’s performance.
Develop Global Limited has announced the appointment of Duncan Bradford as a new director, effective from October 29, 2025. The notice indicates that Bradford currently holds no securities or interests in the company, suggesting a fresh start in his role, which could influence the company’s strategic direction and governance.
Develop Global Limited has announced the appointment of three key executives as part of its accelerated growth strategy. Duncan Bradford joins as a Non-executive Director, bringing over 30 years of mining experience, while Nathan Stoitis is appointed as General Manager of Processing and Metallurgy, and Fraser Perry as General Manager of Business Development. These appointments are aimed at supporting Develop’s rapid growth and potential partnership opportunities, enhancing its operational excellence and corporate governance.
Develop Global Limited reported its quarterly cash flow results for the period ending September 30, 2025. The company experienced a net cash outflow from operating activities of $9.3 million, primarily due to production and staff costs. However, the company raised $180 million from the issuance of equity securities, resulting in a net cash inflow of $161 million from financing activities. This financial maneuver indicates a strategic effort to bolster its capital structure and support future operations.
Bellevue Gold Limited has extended its mining contract with Develop Global Limited for the Bellevue Gold Mine in Western Australia by seven months, now ending on 31 July 2026. This extension supports the mine’s development and production ramp-up, with a competitive tender process planned for the second half of 2026 to ensure optimal performance and cost efficiency.
Develop Global Limited has announced the details of its 2025 Annual General Meeting (AGM), scheduled for November 10, 2025, in Perth, Western Australia. Shareholders are encouraged to participate either in person or by proxy, with the company providing options for online voting. This announcement ensures transparency and engagement with shareholders, reflecting Develop Global’s commitment to maintaining strong governance and communication practices.
Develop Global Limited has released an updated Definitive Feasibility Study (DFS) for its Sulphur Springs Zinc-Copper Project, highlighting a significant increase in financial metrics with a pre-tax internal rate of return of 59% and free cash flow of approximately A$1.5 billion. The study outlines a new bottom-up mining approach, enhancing flexibility and de-risking the project, while positioning the company to benefit from the anticipated rise in demand for clean energy transition metals. The project is set to proceed with off-take agreements, project funding, and pre-development activities, aiming to leverage the untapped geological potential and extend the mine’s life.
Develop Global Limited announced a change in the director’s interest, with William James Beament acquiring 253,450 ordinary shares through the exercise of performance rights under the FY25 short-term incentive plan. This change reflects a strategic adjustment in the director’s holdings, potentially impacting the company’s governance and stakeholder interests, as it involves a significant conversion of performance rights into shares.
Develop Global Limited has announced the quotation of 960,949 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of October 3, 2025. This move is part of the company’s strategy to leverage convertible securities and options, potentially enhancing its market position and providing additional capital for future growth initiatives.
Develop Global Limited has announced a change in the director’s interest in securities, specifically involving Michael Gerrard Blakiston. The change involves the transfer of 1,400,000 shares held directly by Blakiston to indirect interests, with no change in beneficial ownership. This adjustment in shareholding structure does not alter the total number of shares held by Blakiston, maintaining the company’s stability in terms of director’s shareholding.
Develop Global Limited has released its corporate governance statement for the financial year ending June 30, 2025. The company has adhered to the ASX Corporate Governance Council’s recommendations, ensuring transparency and accountability in its operations. The statement, approved by the Board, is available on their website, and it outlines the company’s compliance with the governance principles, including board responsibilities and director appointments. This move reinforces Develop Global Limited’s commitment to maintaining high governance standards, which is crucial for its stakeholders and market reputation.
Develop Global Limited has released a presentation highlighting its strategic focus on energy transition metals and underground mining services. The company aims to enhance its growth by leveraging its resource ownership and mining expertise, positioning itself as a key player in the sustainable energy sector. This strategic direction is expected to impact its operations and market positioning, potentially benefiting stakeholders by aligning with the global shift towards sustainable energy solutions.
Develop Global Limited has announced the issuance of 873,047 unquoted performance rights under an employee incentive scheme. These securities are subject to transfer restrictions and are not quoted on the ASX until these restrictions are lifted, which could impact employee retention and motivation strategies.