Member Info for bonker99

@ rollin - re 71% of value - remember its equity, not cash, and it's perfectly possible that MOD bags during this exploration campaign so we'd be getting twice that when they do :) If anyone doesn't think MOD can bag in H2 then I don't know why we're all here in the first place :)

I bet they did :)

Salient point being though that if anyone was harbouring concerns here about a possible raise going forward to fund production-related capex for T3 then that's toast as it's now all on MOD :)

All in all it sounds like 3p is the new 2p so that's a great result if you've a mid-upper 2s average with the promise of so much more near-term upside on MOD's SP moving up as we all expect it to during this big exploration campaign.

Plus we get a net smelter royalty of 2% capped at $2m pa - nice!

BTW, by offing T3 that also relieves us of any possible further costs going to production of course so that's also good news for MTR holders - MOD have to fund that themselves now.

It's late mate so you'll have to give 162 a chance to really break it down but at first (or third!) glance it clearly suggests we're going to be picking up enough initial equity for T3 alone to justify why someone has totaly cleared out the shares here up to mid-upper 2s though for starters because we appear to be looking at a c£30m cash/liquid assets balance sheet of c£30m at the current MOD SP but bear in mind if that's the case that as the MOD SP rises (and it will of course on new discoveries - substantially you would think) then we're really quids in in H2 2018 regardless of how long it may take for MOD to get a T/O deal or whatever in 2019.

The general gist is that It gives everyone ultimate optionality to progress around the land to their own interests and for MTR shareholders interests is means more/early realised monetisation on an ongoing basis - note that the valuations are to be done at broker rates and we've just seen a broker give a $0.90 target for MOD as it currently stands prior to new discoveries so all in all, this sound pretty bloody great for MTR holders - no wonder the SP wouldn't drop to mid 2s lol

I'll be waiting for 162's confirmation mate! :)

Sounds like a slice-off-as-you-go jobby much akin to what we'd talked about recently to allow MOD/another party to go do whatever they need to do re production funding/selling it off to another party, i.e. a major, whilst giving MTR increased equity in exchange for each bit sliced off which as you suggest, allows us to monetise early (i.e. see the value reflected in our SP much earlier than it would have been ordinarily) which is great news for MTR holders as the clear implication (especially on exploration success) is possible near-term sizeable SP uplifts here on an ongoing basis.

Trying to talk it through with 162 now lol

Hold on, I'm still only on page 73 :)

Obvs yes but that doesn't mean it can't reform that cup into a ladle in short order ;)

2x 1m's rolling in late :)

22p would do nicely tvm :)

So, you know these guys are going to shake her before any major news drops and I guess today was just the start but imo if you've been waiting for it then start layering in at 2.7s, if it's ever offered - fingers crossed they'll go for it and we'll all be able to bag a few more Copper Tickets :)

It's all good, ya gorra lol and I did when I saw it over there though you think they'd come up with some new language by now ffs but hey, they're really not that bright ;)

Keep "selling" her down I say, I'm ready ;)

Oh that guy - well I'm just a self-styled chart expert and don't have a scooby mate ;) ;)

That's a pretty odd last 45 mins - tumbleweeds all day then clearly organised "selling" followed by what looks like organised buying with a couple of 1s thrown in for good measure - ya gorra lol

That really does capture the attention :)

Nice shake - news? :)

Morning.

Nice to see you guys dropping some metrics on Cupric Canyon as they're clearly the model for us going forward so thanks for that.

Nobody is suggesting this is likely to 20x by next week but as I pointed out a little while ago, Cupric kicked off in much the same vein as us with modest deposits that on further exploration subsequently ballooned into a really sizeable amount of copper at grades that are more than decent in the modern age, very likely peer-beating in the years ahead in fact.

It really is all about the forward read here - I mentioned the huge Chilean mine capexing many billions of dollars to go after their underground 0.5% copper recently as that, in the main, appears to be the future. As shown by the video I posted on the weekend, the financial metrics there are really marginal but it's all those guys have left and it's only viable because of the size of the resource and the infrastructure they already have in place which was paid for by the low hanging fruit they've already pulled out over the last 100 years.

It's that kind of model that makes new discoveries here so exciting because you're looking at that same model being repeated with new deposits that, although they're likely to be underground, are surrounding a cash cow extraordinaire in the T3 open pit that looks likely to throw off a billion dollars of cash over a decade or so at $3 copper.

That cash could pay for an awful lot of development of new and local underground mines feeding the same plant, be it that they may only be in the "new normal" grade range of c0.5%+ or so copper but they may also turn out to be humongous resources in terms of deep but very wide tonnage and as the above Chilean move demonstrates, if you've got the size then low grades can still turn a profit.

The real catalyst, however, is the copper price - put that at $3.50+ and that (possibly huge) 0.5%+ deep copper starts to become increasingly attractive just as your open pit's ability to throw off cash increases exponentially too so that's the scenario that a major will be looking at for sure and why they may well (try to) pay a "premium" in short order because they know where the copper price is likely going over the next decade.

That new KML JV looks to be of the genius category tbh - we've straddled both sides of Cupric now :)

All in all, while the upside is unknowable, it could be any number of bags over a long enough timescale but fast bagging spikes on the right kind of news will be part of that of course. Downside? Well I just can't see it - you'd have to drop some actual bad news here and I can't begin to imagine what form "bad news" would take here for the very forseeable because it looks/feels like all news is good news as we're just adding to the T3 pit.

I very strongly suspect we're looking at up/sideways/up/sideways here for as far and as long as we can see and that's why it's a keeper imo.

@ fierce lol

Again with bemoaning the timescales when talking bout a 20x bagger ffs :)

That's mortgages paid off (or no mortgage required at all if you're young), early retirements secured, kids all going to a good University etc if you've got the foresight to dive in deep enough while you still can and the common bloody sense to just leave it alone for a year or three until the market forces you to start slicing out because some of the above kind of objectives have been met.

I've said this before but I'll repeat - MTR have 60x their mcap in four years - would you bet against them doing it again over the next four? Most of you will because you'll sell up way ahead of that kinda timescale which is fair enough of course but then you'll never know what it's like to bank a 20-60x bagger - you'll almost certainly only do it once in your lifetime, if at all :)

Just imagine sticking £10k in now and banking £200k+ in 2020 - it's *totally viable* :)

A stunning opportunity here while sub 3.25p lasts so do what the market has clearly been doing these past 10 weeks - fill yer boots while you still can! I advocate spreading your money around as you know but I wouldn't blame anyone at all for sticking the lot in here at this price :)

Anyone know how Julian Hanna made his name?

He took Western Areas of Oz from $0.2 to > $11 off the back of a hugely successful exploration campaign during the last small cap resource stock boom cycle with subsequent deals with BHP Billiton prior to joining MOD.

http://www.westernareas.com.au/about-us/history.html

Just saying.

Just having a bit of a chuckle to myself at the prospect of $4+ Copper here - thought I'd share ;)

lol