Develop Global Declares Commercial Production at New South Wales Copper-Zinc Project; Shares Reach 14-Year Peak

MT Newswires Live

04/23

Develop Global (ASX:DVP) said it declared commercial production at the Woodlawn copper-zinc project in New South Wales after achieving and exceeding steady-state production rate of 850,000 tonnes per year during the March quarter, according to a Thursday Australian bourse filing.

The Woodlawn production was stress-tested at rates in excess of its nameplate capacity, reaching a mining rate of 966,000 tonnes per annum and a processing rate of 932,000 tonnes per annum.

Ore mined at the project rose 46% quarter over quarter to 181,973 tonnes, while copper-equivalent production jumped 88% to around 3,150 tonnes in the March quarter. Concentrate production increased 50% to 14,119 tonnes.

The company is also targeting a final investment decision for the Sulphur Springs copper-silver-zinc project in Western Australia in the June quarter.

Develop Global's shares rose past 5% in recent trading on Thursday and earlier reached a 14-year high point.

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