Develop (ASX: $DVP) March 2024 Quarterly Report Highlights

Develop (ASX: $DVP) has reported a highly successful quarter with significant findings from the Production Re-start Study of the Woodlawn Copper-Zinc Mine in NSW. The study revealed exceptional financial metrics, including a re-start capital cost of just A$42 million and A$1 billion in pre-tax free cashflow. Develop Managing Director Bill Beament expressed satisfaction with the progress, stating, 'Our five-year business plan is coming together very well, just as we envisaged when we formulated our two-pronged strategy based on production of energy transition metals and provision of underground mining services.'

Executive Commentary on Develop's March 2024 Quarterly Report

Bill Beament, Managing Director of Develop, highlighted the exceptional financial strength of the Woodlawn project, emphasizing the forecast of significant free cashflow of A$1 billion and A$658 million NPV, calculated at below current spot copper and zinc prices. He also noted the low-risk restart with 80% of the mine plan underpinned by Reserves, and the substantial progress towards a production re-start decision.

Summary of Develop's March 2024 Quarterly Report

The March 2024 Quarterly Report by Develop (ASX: $DVP) showcases the company's successful quarter, particularly the positive findings from the Production Re-start Study of the Woodlawn Copper-Zinc Mine. With a re-start capital cost of just A$42 million and A$1 billion in pre-tax free cashflow, the project demonstrates exceptional financial strength. Develop's ambitions and goals are evident in their two-pronged strategy focusing on energy transition metals production and provision of underground mining services. The company's decision to explore funding options and potential sale of a minority interest in Woodlawn indicates a positive outlook for the future.