DEVEX RESOURCES LIMITED (DEV)
Share Price Analysis and Chart

03/09/2026

1

Speculative Buy

$0.41

110.26%

Bell Potter highlights encouraging early results from DevEx Resources' fully funded 17,000m drilling program at the Nabarlek Uranium Project in the Northern Territory.

Initial drilling has identified fault zones and geological characteristics consistent with unconformity-type uranium deposits, including uranium mineralisation at the Big Radon prospect, the analysts highlight.

Significant exploration potential is seen across DevEx's consolidated landholding, which the broker considers analogous to Canada's uranium-rich Athabasca Basin.

Buy-rated Bell Potter retains its 41c target, with exploration results, uranium market fundamentals and potential acquisitions the key catalysts.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -1.80 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -2.00 cents.

22/09/2026

1

Initiation of coverage with Buy

$10.48

5274.36%

Canaccord Genuity maintains a Speculative Buy rating for DevEx Resources with a $10.48 target price following a site visit to the Nabarlek uranium project in the Northern Territory.

The company is advancing a 15,000m drilling campaign across a 9,200 square kilometre package to target analogues of major regional orebodies including Jabiluka and Ranger.

Initial exploration focused on four drill-ready targets, with the first pass at Big Radon confirming a 20m-wide fault zone intersecting shallow uranium mineralisation and a diamond hole at KP returning geological vectors akin to the historic Nabarlek mine.

Canaccord Genuity notes the exploration thesis is clear, highlighting the introduction of advanced targeting techniques and new vectoring at Caramal.

The analyst views the leadership team as highly experienced and anticipates ongoing drilling results could drive a material discovery before year-end.