Base Metals market is awash with liquidity. Billion dollar deals are being done. Premiums up to 95%. Disconnect between equity value and spot market. Copper prices are buoyant, outlook optimistic.
At the company level, WL is well ahead of schedule in terms of development and nameplate capacity is on track to be achieved in the next quarter.
They did drop these new breadcrumbs in the update last week: Develop’s Executives have one of the largest networks of underground personnel in the Australian industry (+10,000) Current workforce of 600 personnel and rapidly growing. OPPORTUNITIES STAGE WELL UNDERWAY
They previously stated they want 1500 personnel. So they are not even half way done with the growth of the company. Historical revenue per employee at NST was well above industry average and this has been the case for DVP as well. If 600 personnel = $4.40, then 1500 personnel > $11?
The confluence of macro conditions + cashflow generation + talent availability overwhelmingly indicates the company is on a high-speed value creation trajectory.
DVP Price at posting:
$4.45 Sentiment: Buy Disclosure: Held
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