Develop Global Limited (ASX:DVP)

ALERT: Price-sensitive ASX Announcement for DVP

Current share price for DVP : $3.840 -1.17 (-23.35%)⁺

Announcement

FY27 Guidance

Release

29 Sep 2026 8:11AM

Price at Release

$5.010

Full Release

Summary

Develop Global Limited (ASX: DVP) announced its FY27 guidance, highlighting expected strong growth in cashflow from a full year of steady-state production at the Woodlawn copper-zinc mine in NSW, the commencement of lithium DSO production and sales from Pioneer Dome in WA in the December 2026 quarter, and major construction progress at the Yitirrti copper-silver-zinc project in WA ahead of targeted first concentrate production in the June 2028 quarter; FY27 guidance includes Woodlawn ore processing of 775kt to 875kt at 2.7% CuEq for 21.0kt to 23.5kt contained CuEq metal, Pioneer Dome ore mining of 650kt to 750kt at 1.2% Li2O for 7.8kt to 9.0kt contained lithium metal with 70% to 85% DSO converter recoveries, group underlying operating costs of A$268 million to A$297 million plus corporate and G&A of A$23 million to A$25 million, group growth capital of A$411 million to A$458 million led by Yitirrti’s A$367 million to A$406 million build-out, sustaining capital of A$30 million to A$35 million, exploration spend of A$11 million to A$13 million focused on Project DM15 and broader regional strategy, and Develop Mining Services revenue of A$100 million to A$110 million from existing underground mining contracts, with management stating these three assets provide a platform for rapid growth in production and cashflow through FY27 and beyond.

Key Points

Develop Global Limited released its first annual FY27 guidance covering production, operating costs and capital expenditure.
Woodlawn is expected to process 775kt to 875kt of ore at 2.7% CuEq, producing 21.0kt to 23.5kt of contained copper equivalent metal in FY27.
Pioneer Dome is expected to mine 650kt to 750kt of ore at 1.2% Li2O, containing 7.8kt to 9.0kt of lithium metal, with first DSO sales and cashflow in the December 2026 quarter.
Yitirrti will remain in construction throughout FY27, with first concentrate production still targeted for the June 2028 quarter.
Group FY27 growth capital expenditure is budgeted at A$411 million to A$458 million, mainly for Yitirrti and Pioneer Dome development.
Group sustaining capital expenditure is budgeted at A$30 million to A$35 million.
Group exploration expenditure is budgeted at A$11 million to A$13 million, including Project DM15 work to support mine life extension.
Develop Mining Services forecasts FY27 revenue of A$100 million to A$110 million from contracts including Core Lithium’s BP33 and OceanaGold’s Waihi mine.
Woodlawn underlying operating cost guidance is A$180 million to A$200 million, while Pioneer Dome underlying operating cost guidance is A$88 million to A$97 million.
Management said the combined contribution from Woodlawn, Pioneer Dome and mining services is expected to create a strong cashflow platform by the end of FY27.

IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.