Venturex officially becomes Develop

Venturex Resources’ name change to Develop Global is complete (reports MiningNews).
7th October 2021

Shareholders approved the change at a meeting last month.

The company's ASX code will change from VXR to DVP.

Develop managing director Bill Beament launched the new name and branding during a presentation at Diggers & Dealers in August.

The company will focus on developing people, as well as projects.

Beament said the name change reflected the company's new strategic direction and corporate culture.

"We are making strong progress in laying the foundations for Develop to be a major supplier of new generation materials and related services," he said.

"Develop's commercial success will be intertwined with its objectives of making a significant contribution to the process of decarbonisation and creating a highly desirable environment for our people, who will be our most important asset.

"With the new name now in place and the drilling program at our Sulphur Springs copper-zinc project progressing well, we look forward to providing an update on our strategy in coming weeks."

The drilling underway at Sulphur Springs will underpin a bankable feasibility study next year.

Shares in Develop have traded as high as A87.5c in August - up from 8c in February when Beament became involved. The stock last traded at 57c, valuing the company at just under $400 million.

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