Develop Global Completes Documentation for AU$100 Million Loan Facility for New South Wales Mine; Shares Rise 7%

MT Newswires Live

2024/12/10

Develop Global (ASX:DVP) completed the documentation for the commercial terms of a AU$100 million loan facility with commodities firm Trafigura, according to a Tuesday filing with the Australian bourse.

Proceeds will be used to support the restart of the Woodlawn copper-zinc mine in New South Wales, which is now 50% complete, the filing said.

Both parties further signed a five-year offtake deal for Woodlawn.

Company shares rose past 6% in recent Tuesday trade.

Price (AUD): $2.35, Change: $+0.14, Percent Change: +6.33%

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