Interesting update released on a market down day. WL first 3 years cashflow just keeps going up ~A$500m Pre-tax NPV – A$728m. Process for minority interest (up to 20%) has begun. Timing wise I think around mid year, settlement in tranches perhaps? I think they need minimum $150M for the 20%, having sunk the time, capital and hired all the staff to get to production stage. The project is heavily de-risked with plenty of exposure to metal price upside and potential mine-life extension.
Pioneer Dome: Numerous critical minerals (Beryllium and Caesium) on leases DEV Mining Services: Numerous business opportunities SS: Site access/haul road due to commence construction in Jun-25 Qtr. Undergrounddevelopment forecasted to commence in the Sep-25 Qtr ~ timing ties in with 20% WL sale.
They also did peer analysis DVP vs MAC FFM ADT FOM. SS+WL production profile is on par, but DVP has more upside since they have the DEV Mining Services and Pioneer Dome. DVP 3 projects are also fully permitted for operations - well advanced.
DVP Price at posting:
$2.73 Sentiment: Buy Disclosure: Held
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