Slide 1: 2024 AGM Presentation – ASX Announcement
ASX Announcement 8 November 2024 2024 AGM PRESENTATION Develop Global Limited (ASX: DVP) (“Develop”) provides the attached copy of the presentation to be given at Develop’s 2024 Annual General Meeting (AGM) being held at 2:00pm (WST) today. For personal use only This Announcement is authorised by Bi
Slide 2: Pathway to Cashflow – AGM Presentation
ASX: DVP For personal use only PATHWAY TO CASHFLOW • ENERGY TRANSITION METALS OWNERSHIP • UNDERGROUND MINING SERVICES COMPANY AGM PRESENTATION – 8 NOVEMBER 2024
Slide 3: Important Information and Disclaimer
IMPORTANT INFORMATION AND DISCLAIMER The information contained in this document (“Presentation”) has been prepared by DEVELOP Global Limited (“Company”). This Presentation is being used as a presenter’s aid with summarised information. See DEVELOP’s other and periodic disclosure announcements lodged
Slide 4: Develop will utilise the power of people to produce clean metals
For personal use only DEVELOP WILL UTILISE THE POWER OF PEOPLE TO PRODUCE CLEAN METALS AND HELP DECARBONISE THE WORLD.
Slide 5: Develop 5-Year Business Plan
DEVELOP 5-YEAR BUSINESS PLAN WHAT’S BEEN ACHIEVED IN 24 MONTHS For personal use only HYBRID BUSINESS MODEL: MINE OWNERSHIP AND MINING SERVICES BUSINESS UNITS Build world-class Be one of the most Produce some of Aim for annual Mining Services underground socially responsible the world’s metal output
Slide 6: Our Flagship Asset Is Our People
OUR FLAGSHIP ASSET: IS OUR PEOPLE For personal use only • The mines of the future will be underground • Demand for underground skills is soaring • Develop’s Executives have one of the largest networks of underground personnel in the Australian industry • Develop has built its world class underground
Slide 7: Our Sustainability Strategy – Tjiwarl-Develop JV
OUR SUSTAINABILITY STRATEGY TJIWARL-DEVELOP JV For personal use only SOCIAL CONTRIBUTION • DEVELOP and TJIWARL Traditional Owners (TCS) partner in a landmark 50/50 contracting joint venture • DEVELOP to act as capacity partner, whilst upskilling TCS • First multi-million-dollar contract at Bellevue
Slide 8: Develop Company Assets
DEVELOP COMPANY ASSETS ALL BUSINESS UNITS ARE LOCATED IN AUSTRALIA For personal use only Woodlawn Cu/Zn Sulphur Springs Zn/Cu Pioneer Dome - Li Mining Services Project revenue – A$2.6b Project revenue – A$2.9b Project revenue – A$2.2b FY24 Revenue A$147m Free cashflow – A$1.1b Free cashflow – A$745m
Slide 9: Funding and Balance Sheet
WORLD-CLASS UNDERGROUND CAPABILITY FUNDING AND BALANCE SHEET For personal use only • Strong cash position, as at 30 September 2024 of A$30.5m • A further ~$10.5m, from in the money options, will be raised in June 2025 • Equipment finance debt of A$44.8m at 30 September, which is covered by our minin
Slide 10: Woodlawn Asset – Copper/Zinc Mine
A QUALITY PROJECT FOR THE ENERGY REVOLUTION WOODLAWN ASSET COPPER/ZINC MINE For personal use only • Purchased in May-22 for A$100M • Inherited ~A$340m of prior capital expenditure • Develop has spent ~A$60m on the mine Major achievements of this spend are; • Key operational team in place • Resource
Slide 11: Funding & Offtake
WORLD-CLASS CAPABILITY FUNDING & OFFTAKE For personal use only • Leading base metals commodity trader, Trafigura, has agreed to provide a ~A$100M pre-payment/loan facility to bring Woodlawn into production. Funding terms are flexible • As part of the funding, Develop is also in the process of agreei
Slide 12: Trafigura – Debt & Offtake Partner
WORLD-CLASS CAPABILITY TRAFIGURA – DEBT & OFFTAKE PARTNER For personal use only Trafigura is a leading supplier of commodities and has a large share of the global base metals market. It manages complex supply chains to move minerals, metals and energy from where they are produced to where they are n
Slide 13: Woodlawn Restart – Key Update Results
A QUALITY PROJECT FOR THE ENERGY REVOLUTION WOODLAWN RESTART KEY UPDATE RESULTS For personal use only July 24 Update April 2024 Release Pre-Tax NPV7% 1 A$M 728 658 Payback Mths 23 24 • Pre-tax NPV increases by 11% to A$728m Free Cash-flow A$M 1,101 1,003 • Pre-tax free cashflow increases to A$1.1b M
Slide 14: Woodlawn Restart – Site Update
A QUALITY PROJECT FOR THE ENERGY REVOLUTION WOODLAWN RESTART SITE UPDATE For personal use only • Processing upgrade work well underway • Excellent progress with internal package and GR Engineering work packages ahead of schedule • Total GRES package now 36% complete with no major delays to date • Op
Slide 15: Sulphur Springs Zinc-Copper Project
A QUALITY PROJECT FOR THE ENERGY REVOLUTION SULPHUR SPRINGS ZINC-COPPER PROJECT For personal use only • The project is a high-grade Zinc and Copper Resource of 17.4Mt @ 5.8% Zn, 1.0% Cu & 21gpt Ag located in the Tier 1 mining district of WA • This was the sole asset Venturex recapitalised on (market
Slide 16: World-Class Underground Capability – Mining Services
OUR PEOPLE ARE OUR FLAGSHIP ASSET WORLD-CLASS UNDERGROUND CAPABILITY For personal use only MINING SERVICES IS KEY TO ACHIEVING BUSINESS PLAN Building underground capability enables Develop to build its business organically; Mining Services accelerates this CULTURE CAPABILITY CASHFLOW 01 02 03 • Upco
Slide 17: Value Creation So Far
VALUE CREATION SO FAR.. For personal use only ASX STOCK SHARE MARKET CASH ENTERPRISE CODE PRICE CAPITALISATION (30 SEPTEMBER 24) VALUE DVP A$ 2.33 A$630M A$30M 271m shares on issue No Corporate Debt A$ 600M • Woodlawn Copper and Zinc Mine • Sulphur Springs Zinc and Copper Project • Pioneer Dome Lith
Slide 18: Resources Tables
PATHWAY TO CASHFLOW RESOURCES TABLES For personal use only BASE METALS LITHIUM-TANTALUM Resource SULPHUR SPRINGS Resource Category Tonnes (Mt) Li2O% Ta2O5 ppm Fe2O3% SULPHUR SPRINGS PROJECT Tonnes (Mt) Cu % Pb % Zn % Ag gpt Au gpt PIONEER DOME NORTH Category Cade, Davy & DOME Indicated 8.6 1.23 55 0
Slide 19: Ore Reserves Tables
PATHWAY TO CASHFLOW ORE RESERVES TABLES For personal use only BASE METALS Ore Reserve Ore (Mt) Cu % Pb % Zn % Ag gpt Au gpt SULPHUR SPRINGS Estimate SULPHUR SPRINGS UG Proved - - - - - - UG Probable 8.8 1.1 0.2 5.4 20.6 0.1 UG Total 8.8 1.1 0.2 5.4 20.6 0.1 Ore Reserve WOODLAWN Ore (Mt) Cu % Pb % Zn