What Develop Global Limited's (ASX:DVP) FY27 guidance sets out for Woodlawn, Pioneer Dome and Yitirrti

Sonal Goyal

28 October 2026 12:27 AM AEDT

What Develop Global Limited's (ASX:DVP) FY27 guidance sets out for Woodlawn, Pioneer Dome and Yitirrti

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Key Highlights

Woodlawn is guided to process 775,000 to 875,000 tonnes at 2.7 per cent copper equivalent in FY27.
Pioneer Dome is guided to mine 650,000 to 750,000 tonnes at 1.2 per cent lithium oxide, with first direct shipping ore sales in the December 2026 quarter.
Group capital expenditure is guided at A$452 million to A$506 million.

Develop Global Limited (ASX:DVP) issued FY27 guidance alongside its annual report on 29 September 2026, setting out its first full year as a three-asset producer and builder. Woodlawn is guided to process 775,000 to 875,000 tonnes at 2.7 per cent copper equivalent, Pioneer Dome to mine 650,000 to 750,000 tonnes at 1.2 per cent lithium oxide with first direct shipping ore sales in the December 2026 quarter, and the mining services arm to generate A$100 million to A$110 million of revenue. Group capital expenditure is guided at A$452 million to A$506 million

What the company actually does

Develop Global is a Western Australian headquartered miner, contractor and developer, known as Venturex Resources Limited until October 2021 and as Jutt Holdings before that. It owns the Woodlawn underground copper-zinc-lead mine in New South Wales, the Pioneer Dome lithium project in Western Australia and the Yitirrti copper-silver-zinc project in the Pilbara, which the company previously called Sulphur Springs.

Latest verified developments

A final investment decision on two growth projects, together with funding, was announced on 10 June 2026. An engineering, procurement and construction contract worth about A$275 million for the Yitirrti processing plant was awarded to GR Engineering Services on 17 August 2026, with first concentrate targeted for the June 2028 quarter. On 27 August 2026 the company reported underground drilling at Woodlawn including 12.2 metres at 15.7 per cent copper equivalent at the J Lens and 10.6 metres at 3.3 per cent copper equivalent about 190 metres down-plunge of the N Lens, and set out Project DM15. A third underground drill rig has been mobilised and Currawang assays remain pending.

Financial and operational evidence

Develop Global balances at 30 June. ASX key statistics record FY2026 revenue of A$388,539,000 and net income of A$8,186,000; the directors' report gives Woodlawn concentrate sales of A$161.6 million, external mining services revenue of A$226.9 million and a consolidated pre-tax profit of A$13.5 million against a A$4.8 million loss in FY2025. Woodlawn processed 634,442 dry tonnes at 2.04 per cent copper equivalent in FY2026 for 10,902 tonnes of contained copper equivalent, with 255,953 ounces of contained silver. The June 2026 Appendix 5B shows A$122.57 million of cash at 30 June 2026, A$30.57 million of operating cash inflow for the quarter, and A$607.83 million of financing facilities of which A$151.35 million was drawn, split between a Trafigura loan facility and equipment finance. FY27 guidance puts group underlying operating costs at A$268 million to A$297 million.

Risks and pressure points

The FY27 build programme is large relative to the balance sheet: guided growth capital expenditure of A$411 million to A$458 million sits against A$122.6 million of cash and a Trafigura facility only partly drawn at 30 June 2026. Yitirrti earns nothing until the June 2028 quarter, so group cash generation depends on Woodlawn and on mining services contracts that roll off and must be replaced, as the Bellevue Gold contract did in July 2026. Pioneer Dome's first sales are exposed to lithium pricing, and the guidance itself rests on stated assumptions including copper at US$12,695 a tonne and a A$19.9 million silver royalty payment that sits outside guided operating costs.

Milestones to watch

First direct shipping ore sales from Pioneer Dome in the December 2026 quarter are the nearest operational marker. The September 2026 quarterly report had not been lodged as at 27 October 2026 and falls due by month end. The annual general meeting convened on 13 October 2026, an updated Woodlawn resource and reserve following Project DM15 drilling, and construction progress at the Yitirrti plant are the other items one could monitor, together with the replacement of mining services work as existing contracts run their course.

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