DevEx Resources (ASX:DEV)

DevEx Resources (ASX: DEV) is a diversified exploration company which has established a high-quality portfolio of projects in some of Australia’s premier mineral provinces, with a strong focus on critical and future-facing minerals required for the global energy transition.

Backed by prominent Australian mining entrepreneur Tim Goyder, who Chairs DevEx and is also its major shareholder with a 17 per cent cornerstone holding, the Company has active exploration programs currently underway at its Nabarlek Uranium Project in the NT and the Kennedy Ionic REE Project in Queensland.

At Nabarlek, DevEx holds a dominant 4,700km2 tenement package in the Alligator Rivers Uranium Province – a region known for its world-class, high-grade uranium deposits, with over 500 million pounds of uranium in mined and current resources. DevEx is one of the few uranium explorers on the ASX currently targeting high-grade uranium adjacent to a historic producing mine.

The Company has also recently made a significant rare earths (REE) discovery at its 100%-owned Kennedy Project in Queensland. Recent metallurgical testwork has confirmed that the mineralisation identified in recent drilling comprises an extensive zone of ionic adsorption clay REE mineralisation, starting from surface.

Ionic clay REE deposits are emerging as a credible source of highly sought-after REE globally, especially those used in the energy transition sector. Early work at Kennedy suggests that DevEx’s deposit has favourable metallurgical characteristics with leach test work demonstrating rapid recoveries with very low acid consumption and significant scale. Drilling is continuing.

DevEx was also an early mover in the Julimar Province in Western Australia and has established a significant land-position in the world-class Lachlan Fold Belt in NSW.