DevEx Resources (DEV) Q1 2027 TU earnings summary

Executive summary

• 2026 first-pass drilling completed across four Nabarlek targets: 40 holes for 11,050m, with uranium intersections at Nabarlek North and Big Radon and strong alteration at KP.

• Exploration focus is moving to target refinement for 2027; quarter-end cash was $21.7m, supplemented by listed and unlisted investments.

Financial highlights

• Exploration and evaluation expenditure was $5.055m for the quarter; administration costs, including staff, were $568,026.

• Cash and cash equivalents were $21.698m at 30 September 2026, versus $27.171m at quarter start; cash from operations was negative $5.290m.

• Interest received was $336,000; investing cash outflow was $152,000 and financing cash outflow was $31,000.

• A 21.63% Lachlan Star holding had a market value of $8.8m at quarter end; an additional 4.04% interest was held in unlisted entX.

Outlook and guidance

• Results and datasets are being analysed to prioritise higher-probability drill targets for the 2027 campaign.

• Hyperspectral survey results will guide priority field mapping and pathfinder sampling before drill targeting; broader survey review is continuing.

• Access to Mustang and Junction targets is anticipated over the next 12 to 18 months, following completed anthropological surveys and negotiations on access agreements.

• Murphy West drilling is subject to approval; Caramal drill permit applications remain awaiting approval.