DevEx Resources (DEV) Conference Transcript

Summary of DevEx Resources Conference Call - July 23, 2025 Company Overview - Company: DevEx Resources (DEV) - Industry: Uranium Exploration - Location: Northern Territory, Australia - Market Position: One of the few ASX listed uranium explorers with a strong focus on the uranium market [2][3] Key Points Exploration and Assets - Exploration Portfolio: DevEx has been exploring in the Northern Territory for several years, focusing on uranium assets [2][3] - Capital Structure: The company has a market capitalization of approximately $36 million and $7.8 million in cash reserves, indicating strong funding for exploration activities [7] - Flagship Projects: Key projects include the Narbelec project in the MacArthur Basin and the Murphy West project [11][19] - Land Tenure: DevEx has assembled over 16,000 square kilometers of land tenure in the MacArthur Basin, which has seen minimal exploration in recent years [13] Market Dynamics - Uranium Market Outlook: The company is optimistic about the uranium market due to a projected supply-demand gap expected to exceed 200% by 2040, leading to higher prices [9] - Current Prices: Spot prices for uranium have fluctuated, recently around $73 per pound, while term prices are approximately $83 per pound [8] - Global Demand: There are currently about 60 nuclear reactors under construction worldwide, with significant plans for expansion in countries like China [10] Exploration Strategy - Target Identification: DevEx is focused on finding high-grade, unconformity-style uranium deposits, similar to those found in the Athabasca and MacArthur Basins [12][17] - Recent Developments: The company has identified new targets based on radon gas anomalies and received a grant of $160,000 from the Northern Territory government to co-fund drilling for these targets [17][18] - Adjacent Projects: The company is exploring areas near the Angulari deposit owned by Deep Yellow and is conducting systematic exploration at the Murphy West project [19] Management and Shareholding - Leadership: The company is led by Chairman Tim Goyter, who holds a 19.9% stake, and Managing Director Todd Ross, who has a background in banking and exploration [4][5] - Team Expertise: The management team possesses significant uranium expertise, which is crucial for executing exploration strategies [3][6] Additional Insights - Historical Context: The Narbelec mine was historically Australia's highest-grade uranium mine, producing 24 million pounds at nearly 2% uranium [15] - Exploration Challenges: The company has shifted focus to identify potential deposits that may be covered by geological formations, which requires advanced exploration techniques [16] This summary encapsulates the key aspects of DevEx Resources' conference call, highlighting the company's strategic positioning within the uranium exploration industry and its proactive approach to capitalizing on market opportunities.