Member Info for bonker99

This is currently valued at a Fool's Cap ;)

As it happens, yes lol

BTW, I really am eating a quartered pork pie and listening to The Doors - it just struck me as very TA-appropriate to post it ;)

3p isn't the number, it's the last, "SP management" staging post before Q2.

Listening to The Doors whilst having a pork pie brunch - I like to slice my pie in quarters, I've almost eaten through the first quarter now - I may have to take a wee break before jumping into that second quarter though.

And yet we're c70% up over that same period of big "selling" ;)

Fank Me Later ;)

Putting down a marker mate ;)

Well at least they've stopped with the 3-5 year shouts ;)

Interesting timing - let's just leave it at that ;)

Let me clear that up:

RNS - boy have they earned those new higher priced options :)

Copy that on the fake print boyz ;)

Boy have they earned those options :)

RNS - copy that guys ;)

I should add - they also know that there's an awful lot of sticky hands here and for my own part, there's ZERO chance of me offing shares here at 5s or below because, again, I can both read and add up and multiply.

A fast rise to c8s? Yeah, ok, I'll do some business with you up there and meet you back at c5p later on but othewise, I'll just keep buying every time I've got new money to throw in, even if it is at 5p when that money arrives.

They need to stem the buying with NT tom foolery and play left-hand right-hand to stem the rise from getting towards/past the 3.25p pivot, they'll drop some big "sells" in to keep her going up/sideways but it's all good.

You guys time your own buys as you see fit but that clock is obviously ticking down here now.

If I'm an II looking to take a sizeable stake here then I'm driving her straight to c8s on a big news drop to clear out PIs almost completely.

They know c5p will be the new floor going forward because they can read and add up and multiply just like most other people now they've been given the algorithm in black & white.

Yes, it's a good TA signal but more so because the bounce came from the Bull support Fib level I've just mentioned at 2.7p which oh-so-just-happens to be right on the rising Golden Crossed daily MA50.

Basically, in terms of what's underneath us and that green flag breakout pivot at 3.25p - it doesn't get better than this TA-wise.

Don't sweat the dailies - the ticking clock will force the squeeze between the two - up/sideways/up/sideways for years from right here, right now.

A watched kettle :)

Would this be four Sunday's on the trot if something drops tonight?

Hey.

I don't see any of the nonsense from that lot of course but my gist was towards the bar of economic viability being significantly lowered because of the existing T3 pit revenue and up-front capex committment (whether it be reduced overall costs/better overall AISC/higher IRR etc) upon any additional significant discoveries in the loca area.

The capex for the 2.5mt pa Base Case was c$160m, the upgraded 4mt pa Expansion Case plant is just $200m, only an extra $37m to increase annual throughput by well over 50%.

Put the case they we get something identical to T3 - we won't of course(?) - then you can see how there are, on a like-for like basis, massive savings to be made per lb of processed copper overall.

If further expansions beyond that 4mt pa are possible with the same kind of reduced capex:revenue gearing and we end up with 3+ significant resources in the local group (sorry, slipped into space-head terminology there lol) then you could be talking about as much as 10mt pa (that's a lot!) and an AISC that ends up being closer to $1 than the current PFS Expansion Case AISC of $1.50 which is up there with the biggest and best mines in the World.

These are demonstrative numbers of course and I certainly don't have any expectations that we'll get to that level but just to demonstrate to those with even less knowledge than I have on mining (which ain't much!) how the financial metrics start to escalate the right way on further resources being discovered, possibly dramatically.

Even if it's just one more resouce feed to the upgraded plant, everything changes significantly for the better and it's bloody good already. 38% IRR is better than most, if that ends up in the 40s+ then I would be expecting majors to be queuing up outside MOD's Perth office because it's a no-brainer investment at those numbers whether it be mining/copper/anything else.

@ Tones 12:36 post: +1 all of that mate, you're onto it :)

DFS, if we get there, drops at end of 2019 Q1, I'll expect more "corporate action" in Q2 - imo what people (with more than a five minute attention span) should be considering is how much of their 2019 ISA allowance they're going to be wanting to slide into this in April 2019 and the price they'll have to pay then.

It won't be anywhere near 3p and with all the ducks aligning nicely between now and then, it could be 3-4x that.

Sorry BWM - only just noticed your point about the economic viability of new underground discoveries.

Yes, you're absolutely right, be they 300m underground or 600m underground, or on the Moon - it matters not a jot if the entire project (T3 Dome Complex specifically) is deemed to be economically viable - it's the only thing that matters.

That said, and I've mentioned this before, the T3 open pit will throw off enormous sums of cash, likely at least $700m and maybe double that come production time in 2020 ($4+ Copper), so that lowers the economic viability bar considerably when talking about the increased costs of underground mining from satellite deposits such as these seven underground domes around the T3 Dome Complex all feeding the same local plant which we're drilling right now.

Yes, I would take it as read that we won't get 7/7 economically viable discoveries, certainly not standing on their own but the salient point right now is whether we can at least find just one that looks like it could be of a significant size.

Anything remotely like T3's 60mt @ 1% would be absolutely fantastic and we've got seven shots at achieving that in H2.

One more decent discovery over and above T3 shifts the District/Regional Scale Copper needle significantly to the right - we can dream of multiples going forward but let's find that +1 first :)

There's no rush here but the A4 Dome appears to have focused their attention big time so let's see what turns up as and when it arrives.

All good stuff peeps - keep it up - Sunday afternoon/evening is peak PI viewing time so the other mob will turn up soon to pee on everything no doubt :)

Hopefully no news tonight so I can get my latest new money tranche in at sub-3p tomorrow ;)

Rick has plenty of 10-20x baggers on his CV, as do Terry Grammer of MTR and Julian Hanna (50x!) of MOD so quite the pedigree there.

Few in the small cap resource world get past Rick Rule's corporate due diligence/people test so for him to throw in with MTR so £Large last year says a LOT, particularly about our young CEO Michael McNeilly who brokered that amazing JV restructure this week for us all.

Yes, heads are being turned here now as you'd expect - my inbox proves it - our Chairman's thumping very early £90k buy of his 3p options on Friday following on from the JV deal sent a few bloody chum waves out into the market place :)

Charles isn't the only one with a few 3.0p options/warrants though - a small sum but I'd proper laugh my t*ts off if Rick followed him in anytime soon, talk about multiple two thumbs up "it's on" signals :)

BTW, it occured to me that if Rick wants to pile ALL the way into this thrilling project then we just happen to hold a sizeable chunk of MOD right now that, arguably, is "in the way" come October re the 12.5% ceiling - just a thought ;)

https://www.youtube.com/watch?v=QT9BeGNnCqw