Develop Global forecasts $458M growth expenditure
- Develop Global issued its initial full-year production and cost guidance, budgeting up to $458 million in FY27 growth capital expenditure.
- Following the announcement, the Develop Global share price was down at $5.01.
- The investment programme focuses on mine underground development, processing plant construction, and advancing three core projects across Australia.
Develop Global (ASX:DVP) released its first official production, operating cost, and capital expenditure guidance, outlining a FY27 budgeted growth of capital expenditure of $411 million to $458 million.
The guidance details full-year operations at the Woodlawn copper-zinc mine alongside the commencement of lithium direct shipping ore sales from the Pioneer Dome project.
"FY27 is the first year in which Develop provides annual guidance across production, operating costs and capital expenditure, reflecting the scale the business has now reached," said Develop Global Managing Director Bill Beament.
Project spending includes $367 million to $406 million earmarked for construction and development at the Yitirrti project, while Develop Mining Services expects to generate $100 million to $110 million in FY27 revenue.
The company stated that the three core assets position the business for increased production and cashflow over the coming years.
Following the announcement, the Develop Global share price was down at $5.01.
Develop Global operates as an Australian underground mining services provider and energy transition metals explorer with assets across New South Wales and Western Australia.
The business continues to execute mine life extension initiatives, allocating $11 million to $13 million in FY27 towards regional exploration and Project DM15.
