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14.5¢ devex resources limited

Ann: $17.2M capital raising expands Nabarlek drill programme, page-15

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jlgread

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17/08/22

15:11

Post #: 63169006
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Originally posted by Brobel: ↑

Personally, I am very pleased with this CR. It is a strong vote of confidence in the prospects of DEV's asset portfolio. They've raised double what I thought they wanted and just highlights the strong appetite from "larger" investors to get on board the DEV train. I dare say 90% would be from the Perth set.

So DEV have ~10 weeks to go hard with drilling at Nabarlek until the wet season begins. I hold very high hopes for a major U discovery. Then they can pivot to EM / drilling at Sovereign and then Junee in Oct for more drilling.

As an aside, I have always been a fan of how TG runs his companies. IMO he embeds a very focused, disciplined and professional culture. Fully transparent and with honest communication. I will happily support the CRs for exploration companies as long as the majority goes into exploration & appraisal. Basically - that the money goes into the ground... not to "overheads" or affording a "lifestyle"... like many other wannabees on the ASX.

To this end, I just looked over DEV's last quarterly and the numbers don't lie. Of their total 12 months to 30 June, specifically operating cashflows, 84.5% went into "exploration and evaluation" i.e. drilling, EM, drilling, assays, drilling, drilling and more drilling. A relatively low 6.5% going to salaries and 9.5% to corporate admin. Indeed DEV went a whole year without doing a CR which is not bad considering what I believe is a fairly aggressive exploration campaigns. I've seen plenty of other explorers out there with the percentages the other way around, so from my point of view, DEV is quite frugally managed, like all TG companies actually.

Anyway, lets see what the next 2-3 months gives us LT investors... I am fairly confident... GLTA

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Small wonder then how both Chalice and Liontown have grown - its all down to the Tim Goyder midas touch ..... I am very very comfortable with where my money is parked!

Good luck to all.

DEV Price at posting: 38.0¢ Sentiment: Hold Disclosure: Held
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Last 14.5¢		Change 0.005(3.57%)		Mkt cap ! $64.04M

Open	High	Low	Value	Volume
14.0¢	15.0¢	14.0¢	$21.82K	152.3K

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Ann: $17.2M capital raising expands Nabarlek drill programme, page-15

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