Key points
- Record revenue of A$147 million, a 108% increase from the previous quarter
- Significant production increases at Woodlawn copper-zinc mine
- Final Investment Decisions on Yitirrti and Pioneer Dome projects
- Secured A$570 million debt facility and warrant package with Trafigura
Full summary
Develop Global Ltd reported record quarterly revenue of A$147 million, a 108% increase from the previous quarter. The Woodlawn copper-zinc mine achieved record production with a 47% increase in copper-equivalent production. The company made Final Investment Decisions on the Yitirrti copper-silver-zinc and Pioneer Dome lithium projects, with first sales expected in December. Additionally, Develop secured a A$570 million debt facility and warrant package with Trafigura to fund these projects and refinance existing facilities.
Guidance
Record Group quarterly revenue of A$147 million, up 108% on the March quarter
Outlook
The company anticipates continued growth with the commencement of DSO sales at Pioneer Dome and the start of production at Yitirrti in June 2028.