RE: Below NAV19 Jul 2018 04:15
We'll be getting regular drill/assay news from here through to October, including the T20 Dome Complex/T23/T4 campaign.
I said a while back that I thought you probably have to hold this for six months to wring full/decent value out of it and that was predicated on the drilling timescales. The fact this big JV news doesn't formalise until around the exact same timescale captures my attention I must admit - that's some "coincidence" and it also happens to be the exact timescale that MOD said they were looking at floating on the main exchange of the LSE so it's all very intruiging to say the least.
I can think of no reason why MOD would do anything but everything in their power to get their SP up, and right up at that, in the period leading up to the shareholder vote. Many of their holders were a bit peeved that we got such an amazing deal though I think they've settled down now in the main and can see how it benefits them as the operator/miner in this JV as we (quite rightly) relinquish production-related calls to them in exchange for an increasingly whopping stake in the overall project/MOD itself.
Cruising through that vote is obviously going to be so much easier if they've got their SP well up ahead of it off the back of a load of promising/great/stellar drill results so I have to assume that's the game plan and it seems viable to me.
What most PIs will be focusing on during this period is the SP movements here because they've got their heads fixed on realising profit and I do get that but I also think it's a mistake for this kind of play.
IMO, this is an incredible opportunity to build as big a stake as you can possibly manage over the coming week/smonths at any price but especially while 2s is still being offered to you while they try and push her sideways to time the seemingly inevitable tectonic plate shifts to 4s/5s and beyond. That initial move could come at anytime, certainly within the next few weeks imo and probably on yet more great news coming from MOD.
Re We're gonna need a bigger boat - we've just chucked a barrel load of very bloody chum into the market waters with today's news so if there are big fish out there looking to see deals formalised so they can run those newly transparent numbers through their own abacus then they are now free to do so as it's all there in black and white.
I suspect we've already got big fish circling here - the "trading" suggests it strongly but there's more than one big fish in the world of course so it could get competitive going forward imo. Perhaps we'll get one of them to the surface in the coming period and in that respect, whilst we've seen corporate action today with respect to the MOD/MTR JV, it may not be the end of such action, especially on the MTR side of the equation ...
TA-wise: 2.7p is Position A for bulls here - if you're offered lower than that (don't count on it!) then it's a kitchen sink job imo.
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