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Copper
Key Turning Points
DAILY 52-WEEK
2nd Resistance Point2.9265
1st Resistance Point2.9005
1st resistance blown away ?????? 2.914
Copper chart updated.
Be advised that with Copper @ >$3 the $300m+ NPV of the ***DFS*** based on the 100% owned T3 deposit they'll be dropping within the next six weeks starts to ratchet up exponentially, something like +$30m per 10c of Copper price over and above $3.
Copper 2.906.
https://ton.twitter.com/1.1/ton/data/dm/1098237463099715588/1098237382137122816/KaC7G5Np.png:large
Nice but Copper @ $2.90 right now is even better ...
MOD Resources wins Oliver Award at RIU Explorers
https://www.miningnews.net/leadership/news/1356854/mod-wins-oliver-award#.XGzpzAIIZ8w.twitter
Copper still climbing. Great for the forthcoming DFS. I'll certainly be taking up the entitlement offer.
on Lse looks like sell, no date showing on Money Am
Date...........Time.........Ttrade Prc..Volume...Buy/Sell....Bid.......Ask.....Value
31-Jan-19...16:46:17...18.00........200,000......Buy*...... 17.00..18.00..36.00k
Are the above entitled to participate in the offer ? ATB
!st one again MOD Resources Offer Documen
..........https://t.co/gjplDdofyv
MOD Resources Offer Document
..........https://t.co/gjplDdofyv..
..........https://t.co/3svmUO5c7R
..........https://t.co/Mxnhw5zj5v
MOD ANNs Quarterly Activities Report
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02069592 …
Quarterly Cashflow Report
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02069589 …
Courtesy of JID on Hot Copper ( respected poster )
Hi Guys,
I think, collectively, we are getting close to the money on what has/ is happening.
As us long suffering MOD'ers know, MOD has been shopping around various funding options for T3 and providing third parties access to the data room.
My view is that MOD was looking for a GOR style deal whereby the sell off part of T3 to a larger company where a 50/50 JV is structured and the incoming party funds all the mine development, provides some cash for MOD and manages the mine build process. MOD then goes off and explores the rest of their belt scale land package to find another deposit.
This is working very well for GOR/ Goldfields and it would solve a lot of issues for MOD, in addition to providing them with upfront cash and the certainty of ongoing cashflows (50%) from T3 when it is operational.
IMO, SFR looked at the data room, really liked what they saw and decided that it was a better proposition to simply take the entire asset 100%.
IMO 38c is not an insult but instead a starting point.
LT copper sector followers well know that the development cupboard is bare for the sector and there has been a lot of M&A activity within the sector, including many ASX listed names in the past 24 months.
MOD is one of the few remaining attractive pieces on the chess board and, according to Sprott, control a large amount of one of only 7 belt sized sedimentary copper systems on the planet.
As we saw with NSU, Lundien tried to secure the Company for the Timok deposit but was too stingy and they were trumped by a Chinese suitor.
Lundien still has an empty development cupboard and are quite comfortable with African exposure. They may have learnt from their NSU failure.
There are a number of other mid tier and larger companies - both Western and Chinese - who will be looking at MOD and have been provided access to the data room. With SFR firing the starting gun they can no longer bide their time if they are interested in MOD's assets.
Whilst 38c for a complete TO of MOD is a starting point, I think that this won't be the last offer (either in a JV capacity or for full TO) that we are going to see emerge in the coming months.
I'm aware that "there is a deal to be done here" but the price needs to be above 50c. For me, it potentially needs to be somewhat higher than that.
Cheers
John
MOD Resources
Sandfire’s bid undervalues MOD
22 January 2019 | MOD Resources, Metals & mining, Update
https://www.edisoninvestmentresearch.com/research/report/mod-resources157934/preview/
'our valuation has increased to A$0.75/share (42p/share)'
Dr Ryan Long of Edison has just released a note with a valuation of 42p.
No, separate quote,different rules in London. ATB
https://www.asx.com.au/asxpdf/20190121/pdf/441zkrvlk9nvkn.pdf
I'm kinda new to companies being duel listed on different stick exchanges. But this company has put itself into a trading halt on the asx?? Shouldn't that be on here also??
33p a share would be a nice move from here.
where dud you hear that? I mean the 60c bid?
Another bid 60c, think we going to have several bids coming through this week.
seems to have woken up again... should be at least 30p based on this news imo.