DevEx Resources (DEV) Q3 2026 TU earnings summary

Executive summary

• Advanced exploration at Nabarlek and Murphy West uranium projects in the Northern Territory, with ongoing geochemical sampling and target generation for drilling in the June quarter.

• Acquisition of nine exploration licence applications from Rio Tinto and continued progress on acquiring Alligator Energy's tenement package.

• Multiple new kilometre-scale uranium anomalies identified at Murphy West, supporting a maiden drill program in 2026.

• Kennedy Rare Earth Project in Queensland reviewed for optimisation, with a significant inferred resource defined.

• No field activity at Jimblebar Copper-Nickel Project as focus shifts to uranium.

Financial highlights

• Raised $38.9 million through a two-tranche placement and share purchase plan, completed in January 2026.

• Cash balance at 31 March 2026 was $36.7 million.

• Exploration and evaluation expenditure for the quarter was $1.68 million; administration costs were $0.67 million.

• Net cash used in operating activities for the quarter was $2.1 million.

• Estimated 17.5 quarters of funding available at current expenditure rates.

Outlook and guidance

• Drilling campaign at Nabarlek scheduled to commence in the June quarter.

• Drill permit applications in preparation for Murphy West, with maiden drilling planned for 2026.

• Ongoing review and optimisation of Kennedy Rare Earth Project to maximise value.

• Continued pursuit of corporate opportunities to enhance shareholder value.