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Develop Global Reports Record Quarterly Ore Processing, Mining at New South Wales Operation; Shares Down 5%

MT Newswires Live08:42

Develop Global (ASX:DVP) said its Woodlawn copper-zinc operation in New South Wales mined 202,334 tonnes of ore and processed 201,130 tonnes in the three months to September, both quarterly records, according to a Thursday filing with the Australian bourse.

Woodlawn also delivered concentrate sales of 19,614 tonnes, generating revenue of AU$57.4 million for the quarter.

In the June quarter, Woodlawn reported revenue of AU$84 million from copper-equivalent sales of 4,547 tonnes, an earlier filing showed.

The mine's copper-equivalent production reached 3,697 tonnes in the September quarter, representing the second-highest quarterly figure to date despite a decision to mine lower-grade ore which was outside the mine plan, the company said.

It added that construction of the Yitirrti processing plant in Western Australia is underway with first concentrate set for the June quarter of 2028.

Develop Global reported an operating free cashflow of AU$29.6 million, with AU$146.9 million received from customers during the September quarter.

The company's shares fell 5% in recent Thursday trade.

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