Develop receives $11.55m from options

Develop Global has received $11.55 million in proceeds, following the exercising of options by managing director Bill Beament and non-executive chair Michael Blakiston.

The mid-cap battery minerals company told the market that Mr Beament had elected to exercise 14 million Develop options into shares, generating $10.5 million for the company.

Additionally, Mr Blakiston exercised 1.4 million options for $1.05 million.

An accomplished mining executive with more than three decades of experience, Mr Beament has a further 14 million company options, which will expire in June 2025.

Should he elect to also exercise these options, it would likely generate an additional $10.5 million for the company.

Mr Beament will also feature as a panelist during Thursday morning’s Business News Sector Briefing: Critical Minerals at Crown Perth.

Develop last traded at $2.18 per share, down 3 per cent, as of 10.35am WST.