DevEx Resources (DEV) H2 2025 earnings summary

Executive summary

• Advanced exploration continued across uranium and rare earth projects, with a focus on the Nabarlek Uranium Project and the Kennedy Rare Earths Project in Australia.

• Despite uranium price volatility, new high-priority uranium targets were identified and drilling programs expanded, supported by government co-funding.

• Corporate restructuring included a streamlined leadership team and board changes to drive growth and manage costs.

• Sustainability, stakeholder engagement, and compliance with environmental and governance standards remained central.

Financial highlights

• Net loss before tax was $9.1 million for FY2025, an improvement from $10.8 million in FY2024, mainly due to lower exploration and evaluation expenses.

• Exploration and evaluation expenses decreased to $6.8 million from $13.0 million year-over-year.

• Cash and cash equivalents at year-end were $7.1 million, down from $16.8 million in the prior year.

• Net assets stood at $13.8 million (2024: $22.9 million); working capital surplus was $6.1 million.

• No dividends declared or paid for the year.

Outlook and guidance

• Multiple exploration programs are planned for FY2026, targeting new uranium discoveries and further rare earth resource expansion.

• The company remains focused on growing its portfolio in high-potential mineral provinces and leveraging modern exploration technologies.