DEVELOP GLOBAL LIMITED — Regulatory Filings 2019

Jun 13, 2019

==> picture [223 x 75] intentionally omitted <==

14 June 2019

Australian Securities Exchange

Retraction of ASX Release Regarding Cu Eq Grades

Venturex Resources Ltd ( Company ) (ASX: VXR) refers to the following ASX announcements / presentations made:

• 12 February 2019 Announcement Title: RRS Summer Series Presentation

• 4 June 2019 Announcement Title: “Investor Presentation - RRS Conference, Gold Coast

The Company retracts the statement (or similar versions of this statement) on page 5 of the presentation dated 4 June 2019 as a result of not technically complying with the JORC code. This retracted statement relates to a Cu Eq grade and replaces with the copper and zinc grades.

Investors should not rely on the retracted information as a basis for an investment decision.

Please find attached revised presentation for the 4[th] of June 2019.

Yours sincerely Venturex Resources Limited

TREVOR HART Company Secretary

Registered & Principal Office Level 2, 91 Havelock Street, West Perth WA 6005 PO Box 585, West Perth WA 6872

ABN 11 113 177 432 Tel: +61 8 6389 7400 Fax: +61 8 9463 7836

www.venturexresources.com E: admin@venturexresources.com

==> picture [260 x 78] intentionally omitted <==

==> picture [63 x 11] intentionally omitted <==

----- Start of picture text -----

ASX: VXR
----- End of picture text -----

AJ SAVERIMUTTO | Managing Director | RRS Gold Coast, 4-5 June 2019

==> picture [125 x 47] intentionally omitted <==

==> picture [292 x 59] intentionally omitted <==

1

Important Information and Disclaimer

==> picture [125 x 47] intentionally omitted <==

Cautionary Statement

The information contained in this document (“Presentation”) has been prepared by Venturex Resources Limited (“Company”). This Presentation is being used as a presenter’s aid with summarised information. See Venturex’s other and periodic disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au or at www.venturexresources.com, for more information.

While the information contained in this Presentation has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give any representations or warranties (express or implied) as to the accuracy, reliability or completeness of the information in this Presentation, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, to the full extent permitted by law, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained in this Presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

This Presentation may include certain statements that may be deemed “forward-looking statements”. All statements in this Presentation, other than statements of historical facts, that address future activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The Company, its shareholders, directors, officers, agents, employees or advisers, do not represent, warrant or guarantee, expressly or impliedly, that the information in this Presentation is complete or accurate. To the maximum extent permitted by law, the Company disclaims any responsibility to inform any recipient of this Presentation of any matter that subsequently comes to its notice which may affect any of the information contained in this Presentation. Factors that could cause actual results to differ materially from those in forwardlooking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Venturex assumes no obligation to update such information.

Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward looking statements. Please undertake your own evaluation of the information in this presentation and consult your professional advisers if you wish to buy or sell Venturex shares.

This Presentation has been prepared in compliance with the JORC Code 2012 Edition. The ‘forward-looking information’ contained here is based on the Company’s expectations, estimates and projections as of the date on which the statements were made. The Company disclaims any intent or obligations to update or revise any forward looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law. The Production Target (and the forward looking financial information based on that Production Target) contained in the DFS includes material classified as Ore Reserves and Inferred Resources. Material classified as Ore Reserves contributes ~68% of the material within the LOM Production Target and Inferred Resources contribute ~32% of material included within the LOM Production Target. The mine plan has been sequenced to ensure that the reliance on material contributed from Inferred Resources is minimised within the first 5 years and the Company is satisfied that the proportion of Inferred Resources is not a determining factor for project viability. Nonetheless, the Company notes there is a low level of geological confidence associated with Inferred Resources and there is no certainty that further exploration work will result in the determination of Indicated Resources or that the LOM Production Target insofar as it relates to the Inferred Resources will be realised.

Competency Statement

The information in this presentation that relates Geophysical Exploration Results is based on information compiled by Mr Russell Mortimer, who is employed as a Consultant to the Company through geophysical consultancy Southern Geoscience Consultants Pty Ltd. Mr Mortimer is a member of the Australian Institute of Geoscientists and a member of the Australian Society of Exploration Geophysicists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

The information in this presentation that relates to Exploration Results at the Sulphur Springs Project is based on information by Mr Luke Gibson who is an employee of the Company. Mr Gibson is a member of the Australian Institute of Geoscientists and Mr Gibson has sufficient experience with the style of mineralisation and the type of deposit under consideration.

The information contained in this presentation relating to the Whim Creek Projects Resources and Reserves was previously released in announcements Company Resource and Reserve Statement – Revised released 8 October 2013 and 23 March 2018.

The information contained in this presentation relating to the Kangaroo Caves Resources was previously released in announcements issued 22 September 2015, based on information compiled or reviewed by Mr David Milton, Hardrock Mining Consultants Pty Ltd who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Milton has sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaking to qualify as Competent Persons as defined in the 2012 – Refer Edition of the “Australasian Code for Reporting of Mineral Resources”.

The information contained in this presentation relating to the Sulphur Springs Resources was previously released in announcements issued 21 March 2018, based on information compiled or reviewed by Mr David Milton of Mil Min Pty Ltd who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Milton has sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaking to qualify as Competent Persons as defined in the 2012 – Refer Edition of the “Australasian Code for Reporting of Mineral Resources”.

The information contained in this presentation relating to the Sulphur Springs Reserves was previously released in ASX announcement dated 10th October 2018 based on information compiled or reviewed by Mr Daniel Donald, of Entech Pty Ltd who is a member of the Australasian Institute of Mining and Metallurgy. Mr Donald has sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaken to quality as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Mineral Reserves”.

The Company confirms that: a) The form and context of the material in this presentation has not been materially modified from the above previous announcements; b) It is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimate in DFS announcement issued 10 October 2018 continue to apply and have not materially changed; and c) It is uncertain that following further exploration and evaluation that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC 2012 Code.

2

– Corporate Snapshot Leadership and Key Financials

==> picture [125 x 47] intentionally omitted <==

Board

Anthony (Tony) Kiernan Non-Executive Chairman Ajanth (AJ) Saverimutto Managing Director Anthony Reilly Non-Executive Director

Darren Stralow Non-Executive Director

Management Team

Trevor Hart

CFO & Company Secretary

Alex Biggs Technical Services Manager

Bradley Walker Project Manager Luke Gibson Geology Manager

Key Metrics
Share Price	$0.17
Shares on Issue	280M
Market Capitalisation	$48M
P-NAV (MC/Project NPV)	0.12
Cash at Bank (31 Mar 19)	$5.3M
Top-5 Shareholders %

==> picture [298 x 230] intentionally omitted <==

----- Start of picture text -----

Northern Star
Resources Ltd
19.8%
Directors
3.18%
Regent
Henghou Industries
Pacific
(Hong Kong) Ltd Precision Group Ltd
3.76%
Opportunities 13.55%
Fund Ltd
5.30%
----- End of picture text -----

3

Venturex – Building a mid-tier Australian base metal company

==> picture [125 x 47] intentionally omitted <==

==> picture [937 x 362] intentionally omitted <==

----- Start of picture text -----

Northern Star On Path
Australian High-Grade Excellent
Major to
Project Deposit Financials
Shareholder Construction
----- End of picture text -----

4

– Project Snapshot Sulphur Springs

==> picture [125 x 47] intentionally omitted <==

==> picture [9 x 10] intentionally omitted <==

==> picture [9 x 9] intentionally omitted <==

==> picture [9 x 9] intentionally omitted <==

==> picture [9 x 9] intentionally omitted <==

==> picture [9 x 9] intentionally omitted <==

==> picture [9 x 9] intentionally omitted <==

==> picture [9 x 10] intentionally omitted <==

Strategically located in world-class Pilbara district

Access to port facilities , via haul road and sealed highways

13.8Mt Cu-Zn deposit (1.47% Cu 3.77% Zn)

+10-year mine life , producing Cu & Zn concentrate

Low CAPEX and rapid payback Funding strategy well advanced

Substantial exploration potential, +27km of Panorama VMS Trend

==> picture [582 x 360] intentionally omitted <==

5

==> picture [140 x 90] intentionally omitted <==

==> picture [125 x 47] intentionally omitted <==

6

==> picture [73 x 48] intentionally omitted <==

– Diminishing Supply Market Timing

==> picture [125 x 47] intentionally omitted <==

Supply shortfall expected by 2020

Resource depletion on current projects Grade decline in large copper projects Lack of investment in new projects Falling copper inventories

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 11] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [10 x 10] intentionally omitted <==

==> picture [518 x 286] intentionally omitted <==

==> picture [326 x 381] intentionally omitted <==

7

==> picture [73 x 48] intentionally omitted <==

– Strong Demand from EV’s Market Timing

==> picture [125 x 47] intentionally omitted <==

Electric Vehicles (EV’s)

Electric Vehicles (EVs) are a major growth market An average EV needs 4 x the copper of a conventional medium-sized car

==> picture [10 x 11] intentionally omitted <==

==> picture [10 x 11] intentionally omitted <==

The EV fleet forecast to be 230 million in 2035 and 750 million by 2050, equivalent to half the global fleet[1]

==> picture [10 x 11] intentionally omitted <==

==> picture [408 x 242] intentionally omitted <==

SOURCE: International Copper Association, US Global Investors

==> picture [368 x 327] intentionally omitted <==

SOURCE: Visual capitalist, US Global Investors

1. UBS Global Research, 29 August 2017, “Copper: Electric Vehicles & Charging Infrastructure to Accelerate Demand

8

==> picture [140 x 90] intentionally omitted <==

==> picture [125 x 47] intentionally omitted <==

9

==> picture [73 x 48] intentionally omitted <==

– Project Update Progress & Successes

==> picture [125 x 47] intentionally omitted <==

==> picture [20 x 21] intentionally omitted <==

==> picture [960 x 381] intentionally omitted <==

----- Start of picture text -----

Funding and
Finalise EPA
Share Construction
DFS Permitting
Camp Consolidation
Resource Metallurgy Purchased Complete 3 2
Testwork1
Drilling
----- End of picture text -----

1. Refer ASX Release 06 Aug 2018 2. Refer ASX Release 13 Aug 2018 3. Refer ASX Release 10 Oct 2018

10

==> picture [73 x 48] intentionally omitted <==

– Project Design An Economy of Scale Project

==> picture [125 x 47] intentionally omitted <==

Open Pit Design

==> picture [114 x 65] intentionally omitted <==

o Optimised open pit design

o Low strip ratio

Underground Design

• Bulk mining method (Stoping – SLC)

o Low capital development requirement

Metallurgy

• 1.25Mtpa plant throughput (Designed for 2Mtpa)

o Simple crush, grind, float process

Infrastructure

• Camp purchased

• Access road completed

==> picture [429 x 305] intentionally omitted <==

Refer ASX Release 10 Oct 2018

11

==> picture [73 x 48] intentionally omitted <==

==> picture [125 x 47] intentionally omitted <==

– DFS – Financial Results A Financially Attractive Project

==> picture [275 x 261] intentionally omitted <==

----- Start of picture text -----

NPV [8]
AUD 472
Million [1]
----- End of picture text -----

• ➢ Excellent project financials

• ➢ NPV[8] = AUD 472 M

• ➢ IRR = 51%

• ➢ Free Cash Flow = AUD 818 M

• ➢ Average cash flow of ~AUD 80 M per year

• ➢ Plant capacity 1.2Mt /annum – designed to allow easy expansion to 2.0 Mt/annum concentrates

==> picture [289 x 49] intentionally omitted <==

Increased financial viability

Increased production rate

Reduced capital cost

1NPV calculated on following assumptions: Cu = USD6300/t, Zn = USD2650/t, AUD:USD = 0.72

Refer ASX Release 10 Oct 2018

12

==> picture [73 x 48] intentionally omitted <==

– Operating Costs Strong Margins & Cash Flow

==> picture [125 x 47] intentionally omitted <==

A Cornerstone Asset with Width, Grade and Scale

==> picture [503 x 257] intentionally omitted <==

Mining Area	Tonnes (Mt)	Cu (%)	Cu Metal (kt)*	Zn (%)	Zn (Metal (kt)*
Sulphur Springs Open Pit	5.1	1.8	90	3.4	176
Sulphur Springs Underground	5.6	1.4	79	3.7	207
Kangaroo Caves Underground	1.8	0.7	12	3.8	70
Total Mining Inventory	12.6	1.4	181	3.6	453

LOM COSTS
Output		Unit		Value
Revenue		AUD/t		209
Operating Cost Per Tonne		AUD/t		122
Capital Cost per Tonne		AUD/t		22
Total Cost per Tonne		AUD/t		144
Margin		AUD/t		65
METAL SOLD(Concentrate: Cu = 25%, Zinc =			50%)
Production	Annual (Avg)			LOM
Cu Metal (kt)		15		150
Zn Metal (kt)		35		350

Refer ASX Release 10 Oct 2018

13

==> picture [73 x 48] intentionally omitted <==

– Potential Paths to Production Funding

==> picture [125 x 47] intentionally omitted <==

==> picture [952 x 363] intentionally omitted <==

----- Start of picture text -----

BANKS & PRIVATE
DEBT NAIF
BONDS EQUITY
CONCENTRATE
FUNDING
OFF-TAKES
ASSET
EQU ITY MARKETS LEVEL
----- End of picture text -----

14

==> picture [73 x 48] intentionally omitted <==

– Project Update Ready for Development

==> picture [125 x 47] intentionally omitted <==

CONTROLS	Identify / Shortlist	Scope	Tender / EOI	Award / Contract
Plant Contract			In progress
Open Pit Contract			In Progress
Infrastructure & Earthworks			In Progress
WORK IN PROGRESS
Gas Supply Power
Capital Deferral
Key Personnel

15

==> picture [73 x 48] intentionally omitted <==

– Schedule to Production Making It Happen

==> picture [125 x 47] intentionally omitted <==

==> picture [37 x 37] intentionally omitted <==

MILESTONE Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Mining EPA Approval Water Licence & Works Approvals Financing Plant Site Earthworks & Pre Strip Process Plant Construction Process Plant Commissioning Open Pit Development Production Ramp-up Full Production

16

==> picture [140 x 90] intentionally omitted <==

==> picture [125 x 47] intentionally omitted <==

17

==> picture [73 x 48] intentionally omitted <==

– Panorama Exploration Multiple Local Targets

==> picture [125 x 47] intentionally omitted <==

==> picture [665 x 215] intentionally omitted <==

==> picture [271 x 390] intentionally omitted <==

==> picture [435 x 162] intentionally omitted <==

+27km VMS belt

==> picture [7 x 8] intentionally omitted <==

• Potential for further look alike deposits Surface gossan identified at numerous prospects Drill program imminent

==> picture [7 x 8] intentionally omitted <==

==> picture [7 x 8] intentionally omitted <==

==> picture [7 x 7] intentionally omitted <==

Refer ASX announcements 22 September 2015 and 21 March 2018

18

– Realising Our Potential Under-explored VMS District

==> picture [73 x 48] intentionally omitted <==

==> picture [125 x 47] intentionally omitted <==

==> picture [760 x 400] intentionally omitted <==

==> picture [960 x 49] intentionally omitted <==

– Panorama Trend Sulphur Springs / Breakers

==> picture [125 x 47] intentionally omitted <==

Sulphur Springs

==> picture [259 x 120] intentionally omitted <==

==> picture [326 x 169] intentionally omitted <==

Breakers

==> picture [259 x 120] intentionally omitted <==

==> picture [326 x 169] intentionally omitted <==

==> picture [193 x 178] intentionally omitted <==

20

==> picture [73 x 48] intentionally omitted <==

– Value Proposition Why Invest in us?

==> picture [125 x 47] intentionally omitted <==

==> picture [35 x 35] intentionally omitted <==

==> picture [37 x 34] intentionally omitted <==

==> picture [34 x 34] intentionally omitted <==

==> picture [37 x 37] intentionally omitted <==

Value Markets Shareholders Exploration Strong Team Cornerstone Northern Star 27km exploration Robust Strong markets asset major shareholder potential strategy Excellent Diminishing Few ASX-listed Multiple VMS Strong economics supply copper companies targets vision Development New applications Support of major Sulphur Springs Proven ready for copper shareholders deep drilling team

21

==> picture [125 x 47] intentionally omitted <==

AJ SAVERIMUTTO | Managing Director

Building an Australian Base Metals business.

Registered Office: Level 2, 91 Havelock Street, West Perth, WA 6005 T: + 61 8 6389 7400 F: + 61 8 9463 7836 admin@venturexresources.com

==> picture [257 x 58] intentionally omitted <==

ASX: VXR

Media: Nicholas Read / Read Corporate Ph: +61 8 9388 1474 Email: info@readcorporate.com.au

22

Mineral Resources Appendix 1 –

Sulphur Springs Resources (2019)[1]

Whim Creek Resources (2019)[2]

Indicated	Indicated	Indicated	Indicated
Mt	Cu %	Zn %	Ag g/t
11.7	1.4	4.2	17
Inferred
Mt	Cu %	Zn %	Ag g/t
5.7	1.2	4.4	18

Measured	Measured	Measured	Measured	Measured	Measured
Mt	Cu %	Zn %	**Pb % **	**Ag g/t **	Au g/t
1.07	1.5	1.7	0.7	38	0.3
Indicated
Mt	Cu %	Zn %	**Pb % **	**Ag g/t **	Au g/t
5.97	1.1	1.6	0.4	18	0.2
Inferred
Mt	Cu %	Zn %	**Pb % **	**Ag g/t **	Au g/t
1.55	0.7	3.6	1.0	31	0.2

Total	Total	Total	Total
Mt	Cu %	Zn %	Ag g/t
17.4	1.3	4.2	17

==> picture [88 x 33] intentionally omitted <==

Grand Total	Grand Total	Grand Total	Grand Total	Grand Total	Grand Total
Mt	Cu %	Zn %	Pb %	Ag g/t	Au g/t
25.9	1.24	3.47	0.18	19	0.1

Total	Total	Total	Total	Total	Total
Mt	Cu %	Zn %	Pb %	**Ag g/t **	Au g/t
8.55	1.1	1.9	0.5	23	0.2

==> picture [88 x 35] intentionally omitted <==

1Includes Kangaroo Caves Resources – Refer ASX announcements 22 September 2015 and 21 March 2018

2Whim Creek comprises of Whim Creek, Mons Cupri, Evelyn and Salt Creek deposits – Refer ASX announcements 8 Oct 2013 and 23 March 2018

==> picture [157 x 50] intentionally omitted <==