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DVP - Develop Global

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On October 7th, 2021, Venturex Resources Limited (VXR) changed its name and ASX code to Develop Global Limited (DVP).
 
The Board has also been restructured. ....
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Sulphur Springs : The DFS results confirmed the Project's strong financial and technical merits based on a 1.25 million tonne per annum open pit and underground development to deliver average annual production of ~65ktpa of 25% Copper concentrate (~15ktpa Cu payable metal) and 75ktpa of ~50% Zinc concentrate (~35ktpa Zn payable metal).

Whim Creek, with Anax and now with 20% in JV. Anax has reported significant progress in studies aimed at recommencing commercial operations at Whim Creek based on existing site infrastructure and the innovative use of ore sorting technology. Subsequent to the end of the year Anax announced the outcomes of a positive scoping study and development strategy based on the currently defined resource base

One bit of research has it as a (recently initiated) Strong Buy, though the thirst for more capital won't abate. I wonder what else they have up their sleeves?
 
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Dona Ferentes said:
Sulphur Springs :
Whim Creek,

One bit of research has it as a (recently initiated) Strong Buy, though the thirst for more capital won't abate. I wonder what else they have up their sleeves?
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That probably pulled in a few mugs. ... went from $2.50 early Oct to $4.50 by Dec 2021, then sold down. Then a flurry of Announcements started coming. Now $2.30.

Feb ; $37million raised for Woodlawn purchase at $3.30 a share, placement and entitlement.

Develop (ASX: DVP) has a twin-pronged strategy for creating value.
  • The first of these centres on the exploration and production of future-facing metals. As part of this, the Company owns the Sulphur Springs copper-zinc-silver project in WA’s Pilbara region. This project is currently the focus of ongoing exploration to grow the inventory and various development studies.
  • Develop also owns the Woodlawn zinc-copper project in NSW. Woodlawn, which is on care and maintenance, comprises an underground mine and a new processing plant.
  • The second plank of Develop’s strategy centres on the provision of underground mining services. As part of this, Develop has an agreement with Bellevue Gold (ASX: BGL) to provide underground mining services at its Bellevue Gold Project in WA.
As of this week, the Woodlawn (zinc copper) purchase from Heron is complete. Another string in the bow?
Develop Managing Director Bill Beament .... there's a name
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DVP releases news and their investment proposal to own and develop their own copper mines. (No doubt they'll be plenty of press on this as mgt are good at marketing.)

Stock price is currently in a corrective phase so it'll be worth monitoring for the next impulsive move up.

@Boggo one for your EW charting (weekly and daily I think)
 
peter2 said:
@Boggo one for your EW charting (weekly and daily I think)
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Weekly is a bit erratic and I don't believe in "forcing" a pattern.

The daily however is interesting as it did touch the Typical Wave C today so in theory could (should) turn up from here.

The concern I would have is the very thin depth, it could rapidly go either way with a decent buy or sell order, too risky imo to trade or to rely on a pattern for that reason.

On just the pattern layout if it turns up I would put a target of 2.80 to 3.00 on it based on today's low being a larger degree completion of Wave B.

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Thanks for the reply. I liked the pattern symmetry and wondered if your software thought the same.
Price is in corrective phase in both daily and weekly charts.



Your point about thin MD is valid. This makes it tougher to trade short term.

F/A: The copper price looks likely to retest it's recent low due to lack of demand (China lockdowns, raging USD). I prefer to trade the major copper producers over these minor copper companies.
 
Hi @peter2,
if price heads north from here it could form an interesting Inverse Head & Shoulders pattern, time will tell!
Cheers, Rob
 
Some words of wisdom today from DVP MD Bill Beament.
Most people would know his bio...
 

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