Develop Global Limited (AU:DVP) has released an update.
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Develop Global Limited has embarked on a significant advancement at its Woodlawn mine, awarding a A$25.7 million contract to GR Engineering Services for plant upgrades, with production anticipated in mid-2025. This move necessitates a A$20 million milestone payment to the project vendor, partially in cash and company shares. Funding appears robust, with a near-complete loan facility from Trafigura and a share placement to cover the cash payment.
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