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Presumably we'll get the environmental go-ahead for the T20 Dome Complex/T4 campaign very soon, maybe even next week if I've got my dates right - the 24th??

As we know, and as outlined in Bolgas' post, there's been a tantalising, be it single, very heavily mineralised hole drilled there in the past and we know that the soil anomalies there are many times higher than those at the T3 Dome Complex. The T20 Dome Complex also covers an area 2.5x the size of the T3 Dome Complex, it's staggeringly big.

Just imagine pulling out good looking cores down there eh - you're not then just talking about *a* District Scale copper resource but *two* distinct District Scale copper resources. T3 very handily placed right next door to Cupric Canyon's 400mt+ copper resource and T20 some 50 miles or so to the South West but still handily placed next to the main highway that will be electrified in a couple or three years time.

If T20 was to come in as good as/better than T3 has, and all the more so if it's shallow at < 250m, then we've almost certainly cracked it here and it's just matter of time and having the willpower to hold onto your shares for what could be a jaw-dropping financial win for shareholders.

Morning.

Yup, it's a terrific interview with a number of points that most (impatient) investors would do well to take on board:

He likes exploration and prospect generators for the BIG wins and buys into not just the asset but the people too - clearly a nod towards Julian Hanna (MOD) and Terry Grammer (MTR) who both have exploration microcap > $billion producing companies on their CVs.

He also makes the point that if you back the courage of your convictions then you're reaching for your wallet again if the price of a stock/asset you like drops. That being predicated on the logic of if it's good value at 3p then it's even better value at 2p and a (very typical) -30% swing should be seen as another opportunity to increase your holding as he's obviously doing at MTR.

Twenty years of under investment in the commodities space (Copper above all of course) has promoted explorative prospect generators to the top of the attractive pile as the big boys barely have an exploration arm to their business anymore and metals (again, Copper above all) is running out - fast.

Also, a situation where the fundamentals of an "unloved and unwanted" business keep getting better whilst the share price keeps getting lower is a savvy speculator's dream scenario.

Finally, and this is really the ears pricking up/eyebrows raised comment at 12 minutes in imo:

He refers to a "famous mining entrepreneur"'s party in March where "a CEO of a major multinational mining company" (BHP??) told him that Rick had him right where he wanted him because the company had dropped its exploration business completely and had no pipelined exploration assets. Moreover, their board had already decided to swing back into the exploration game but they've got no staff to do it.

Lead times on taking a new Copper discovery to production are a bare minimum of five years. That leaves you, at best, entering the very well signposted Copper supply/demand deficit party very, very late and others will already be scooping up those whopping rewards ahead of the big boys if they don't buy into advanced, sizeable/proven exploration assets in short order with an eye on production within a couple of years or so - that's evidenced by BHP's current foray into SOLG of course.

I wouldn't be at all surprised if the likes of BHP are involved with MOD's LSE float/funding in the coming weeks/months (or perhaps post-DFS in the Spring) on a JV basis, as outlined by Rick towards the end of the interview, as a preferred option of sharing the risks and benefits of exploring "drill-ready" targets.

MOD obviously aren't short of drill-ready targets right now and neither are MTR if the presumably imminent KML AEM results have delivered the goods on our new JV there.

Lol - we survived it so far then :)

https://uk.reuters.com/article/us-china-mining-m-a/china-seen-sustaining-recovery-in-global-mining-ma-idUKKCN1MS22T

The thing is mate, if I was to be naive enough to think that a drill campaign like this is simply a matter of spending a fortnight drilling a 500m hole then simply moving the drill a 100 yards and starting to drill the next one the following day lol then it'd be a good question as to why they haven't done 50 holes by now but of course it's not that simple and I get that.

My post was mainly in response to Dakad cos he asked and the main gist of what I was suggesting is that the lack of assayed results over recent months had pretty much gifted the "market" the opportunity to put this back at around tuppence.

As I said, the results so far are indeed very, very promising but with "markets" being what they are they'll "trade" slow news as bad news but that's not been the case here up until now for sure, it's all shaping up nicely, be it at a slower pace than we were possibly led to believe earlier in the year but again, that's the game :)

In the round, let's just call it another buying opp at the current price - I've just dropped a chart update showing how nicely placed we are right here, right now but again, it's up to the people that move SPs to make their next move now.

Fingers crossed we get an avalanche of stonking delayed assays Sunday night :)

@ Bolgas - I didn't say I was doubting the possible newsflow, we've discussed it all often enough in here recently, I was just having a pop at MOD's "turbo charged" heel dragging on the T3 Dome Complex campaign so far. If that's been done to align timing with the expected imminent LSE float then fair enough.

I also wasn't suggesting that this can't possibly be back at 3s before the DFS/Spring 2019 - there's obviously a lot going on and a move back to there to retest what "should be" a major pivot (presumably no yet-another manipulated downswing) at c2.45p ahead of the that DFX/whatever else kicks off is certainly possible but that's going to depend on the SP manipulators in here as ever.

If you doubt my motive, I said I chucked in another 250k at c2.10p yesterday and I've just now taken another bunch at the same price - we're sat on my blue wedge/triangulation line right now and 35c works for me as a bottom at MOD so now it's over to the spivs/MOD/MTR bods to do their best/worst from here.

@ Dakad - I'm not chipping in because I've no time mate and I can't see the undoubted garbage from the likes of CK and Joebop et al as they're filtered.

I'm just about to clock off from yet-another back-to-back 14 hour day though so here's my thoughts, in the round:

The wider market is and has been a sh*tshow for at least the past month and there's few shares out there that haven't seen at least some red these past few weeks. For all we know the whole market is going to go proper t*ts in the weeks and months ahead whilst Trump, the Fed and co still have their shorts running. There are so many red flags out there on the geopolitical stage too that I can't count em all - add Saudi Arabia to the ever growing list, wtf knows what that's really about, likely part of The US Grand Plan no doubt ...

As for MOD/MTR - well look, MOD took £10m funding six months ago to "turbo charge growth" and, unless I've missed something, they've delivered a whopping half a dozen assayed holes in that time from only one of seven stated targets in the T3 Dome Complex. If that's turbo charged then fook knows what the regular speed was going to be!

Granted, the stuff they have actually delivered has been very promising indeed but they are pretty much gifting the "market" the opportunity to slaughter the respective SPs by the amount of time they're taking to deliver the goods, especially against the backdrop of a wider market sell-off.

All that said and as sure as eggs is eggs, the upcoming news is already known about and so is the timing of it (where are the KML AEM results? "end of September"??) and, again, as likely as not, the HNW's that control the "trading" of this share (Jesus, the manipulation!) are doing what's best for themselves with respect to both funding the MTR vehicle whilst turning a profit on-market via these ludicrous 3-6 month swings that they alone are driving.

Presumably, we'll see a bottom here in the coming days/weeks (may have been today, may not) and a bunch of oh-so-timely news will drop and we'll be back at 3s around the DFS time in Spring 2019 but not before everyone has had another chance at sticking another £20k into their ISAs in April no doubt so "end of March" for the DFS will doubtless turn out to be the second week of April at the earliest - the last lot of 2p warrants expire in June per chance???

If it sounds like I'm having a pop at MOD/MTR, I'm not really - you can make the same kinda statements about every floated company out there. Timely "news" drops to suit the money guys and the money guys only, not regular PIs, it's just how the game works. Same deal at BKY and ARS of course - as likely as not they've got the same massive boot-filling buyers lined up there as we already know we have here in Sprott - buy the weakness on those and this alike imo.

HTH

That £60k could well be the short close BTW ;)

Not at all mate - that 1.96p print is plenty low enough to my eye, certainly no technical reason to print lower imo - we should get the T20 drill go-ahead next week so it looks a good/timely top-up opp to me.

Morning.

Really busy these past weeks peeps but I've weighed in with +250k just now.

Soz - re link below:

"A flurry of M&A deals for the hottest metal" confirms our observations Recent bloodbath in #commodities was the result of the hotheads making even hotter headlines #TradeWars come & go: critical commodities like #copper will enjoy much higher prices"

http://kirillklip.blogspot.com/2018/09/green-energy-metals-and-tesla.html#.W5DXmEnmw68.twitter

https://twitter.com/kirillklip/status/1051135227031097344

All good stuff mate - I'm aware of the impact of more efficient energy usage pulling down the UK's energy footprint but was amazed to see recently that clean/renewable energy had recently claimed third place in the table of energy providers - a whopping 13% contribution which is phenomenal imo given this only really kicked off a decade or so ago and, presumably, will accelerate going forward. As we know, even the amount of copper required just to get a wind farm up and running is pretty epic.

This debate is very much on topic BTW because it's PART of the equation that makes MTR's monstrous Kalahari Copper Belt exposure so exciting as and when what seems to be an inevitable copper rush kicks in over the coming years.

The other part of the equation - the supply - is equally promising because as we know and have discussed many times in here this year, the handful of giant, century+ old, copper mines that contribute c50% of the world's primary (non-scrap) copper supply are seeing their grades plummet to < 0.5% and they're capexing many billions of Dollars to go deep underground because their massive open pits are exhausted.

The last round of investment into copper/commodity exploration a decade or so ago yielded virtually nothing such that we now have a looming five+ year copper deficit that could, conceivably, turn into a genuine national strategic risk for pretty much any country that wants to compete on the world stage.

It is not beyond the realm of possiblity that we see copper prices at a multiple of the current price within a couple or three years and at that level the NPV of the T3 project alone would be way north of a billion Dollars, maybe even two billion Dollars.

Add in the additional exploration potential at our huge MOD and KML JVs and the upside is literally unknowable when those ducks eventually align.

Clearly, this is a process we're talking about here and SPs will bounce around in the short term but when those ducks are seen coming over the horizon a clear upward trend will emerge. In the meantime it's just a matter of sitting on your hands and waiting it out and continually topping up whilst you're still satisfied with the newsflow.

The right asset(s) in the right place at the right time?

I'd say so.

Evening.

I suspect the perspective of those in the West will differ greatly from some in the East.

China are clearly pushing the envelope with respect to the EV future and that of clean energy - hence the continuing Copper sponging. Europe, on the whole, is leading the way too.

Give it another 20 years and the Chinese will likely be the only developed country with genuine 21st Century infrastructure and probably cleaner air to boot. Plus lower costs because they're likely to be world leaders in clean/renewable energy. They've just built the World's longest sea bridge to cut a journey time down from three hours to thirty minutes - this is how you win.

The global electrification subject is obviously highly complex but I can well imagine some of the developing countries in the next couple of decades making the likes of the UK/USA look 50 years behind the curve - filthy, sh*t lifestyles and tied to higher strategic/national energy costs/O&G - some would say that's already the case ...

That's when you start to lose your people and that'll be the East v West ballgame over along enough timescale.

Both the explosion in EV sales and the size of the impending Copper deficit are being lowballed by the likes of GS and co (but nobody else ...) mate and you know why that is of course.

Copper having another go at the mo

Copper looking strong @ $2.81 - if she breaks then I like $2.90 - $3.05

"Throughout #LMEweek copper producers have been saying the China market is the strongest it's been in years. Today the market gets some numbers backing it up: China copper imports +24% in Sept to 521kt, highest since March 2016."

"Copper in the LME has dropped by another 3,500 tonnes today. That’s a 20,200 tonne drop in 1 week or close to 11% of the total at the start of the week. Stocks in the LME now stand at 166,600 tonnes."

China Copper imports @ +24% in September and a looming 2019 Copper supply deficit is a heady cocktail ...

Jeepers!

https://twitter.com/mburtonmetals/status/1050655848207269888

And as if by magic - ya gorra lol

Aye, games to be expected - if you want to buy then they'll block quotes as usual - you'll have to put in a limit/FOK order ...