DevEx Resources (DEV) H1 2026 earnings summary

Executive summary

• Strengthened strategic position in Northern Territory uranium portfolio and advanced metallurgical studies at Kennedy Rare Earth Project in Queensland.

• Expanded and consolidated uranium tenure in the Alligator Rivers Uranium Province and advanced drill targets at Nabarlek Uranium Project.

• Completed $38.9 million capital raising before costs, enhancing the balance sheet.

• Board changes included appointment of a new Managing Director and non-executive Director.

Financial highlights

• Net loss for the half-year was $5,823,239, compared to $6,448,918 for the same period last year.

• Exploration and evaluation expenditure totaled $2,640,584, down from $5,740,644 year-over-year.

• Net assets increased to $30,482,950 from $13,754,481 as at 30 June 2025.

• Cash at bank rose to $24,161,884 from $7,119,398 at 30 June 2025.

• Basic and diluted loss per share was 1.28 cents, improved from 1.46 cents per share year-over-year.

Outlook and guidance

• Multi-target drill programs planned for the 2026 field season at both Nabarlek and Murphy West uranium projects.

• Further metallurgical optimization underway at Kennedy Rare Earth Project to refine recovery parameters.