- Venturex (VXR) will trade under a new company name, DEVELOP Global (DVP)
- The name change takes effect today following shareholder approval at the company’s annual general meeting which was held on September 23
- Managing Director Bill Beament says the change reflects the company’s new strategic direction and corporate culture
- The company is yet to provide an update on its strategy but is scheduled to do so in the coming weeks
- VXR trading was suspended yesterday and DVP shares are yet to commence trade
Venturex (VXR) will now trade under a new company name, DEVELOP Global (DVP).
The name change takes effect today following shareholder approval at the company’s annual general meeting which was held on September 23.
Managing Director Bill Beament said the change reflected the company’s new strategic direction and corporate culture.
Venturex was focused on building a mid-tier base metals business underpinned by its cornerstone Copper-Zinc Sulphur Springs project located southeast of Port Hedland.
The company envisioned developing a new mining region once Sulphur Springs was operational, with exploration planned to continue along the Panorama Trend.
Now the drilling program at Sulphur Springs is reportedly progressing well and Mr Beament said the company was laying the foundations for DVP to become a major supplier of new generation materials and related services.
“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,” he said.
The company is yet to provide an update on its strategy but is scheduled to do so in the coming weeks.
VXR trading was suspended yesterday and DVP shares are yet to commence trade.