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MOD Resources Ltd (MOD)
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Monday 26 November, 2018
MOD Resources Ltd
Admission to Trading on the London Stock Exchange
RNS Number : 4098I
MOD Resources Limited
26 November 2018
26 November 2018
This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This announcement is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa, Canada or Japan or any other jurisdiction in which its publication or distribution would be unlawful.
MOD Resources Limited
Admission to Trading on the London Stock Exchange
MOD Resources Limited (the 'Company' or 'MOD') (ASX/LSE: MOD) is pleased to announce that following the publication of its Prospectus on 19 November 2018, the Company's 248,572,620 ordinary shares will be admitted to the Standard Segment of the Official List of the Financial Conduct Authority ('Admission') and to trading on the London Stock Exchange's Main Market at 8.00am GMT today under the ticker "MOD".
Julian Hanna, Managing Director of MOD, commented:
"We are delighted to be joining a peer group of quality copper companies listed on the Main Market of the London Stock Exchange. The listing allows us to introduce MOD Resources to European and UK investors as we look to develop into a substantial copper producer. The LSE has a strong track record as a leading destination for companies with African mining assets, making it a natural dual listing destination for a company like ours with an exciting copper portfolio in Botswana's Kalahari Copper Belt."
MOD is a copper exploration and development company focused on the central and western Kalahari Copper Belt in Botswana. The Company's primary focus is the development of its wholly owned T3 Copper Project, for which a Feasibility Study (FS) is targeted for completion in Q1 2019.
Highlights:
· T3 Copper Project Mineral Resource estimate comprises 60 million tonnes (Mt) at 0.98% copper (Cu) and 13.9 grams per tonne (g/t) silver (Ag), containing 590Kt of copper and 27 million ounces (Moz) of silver at 0.4% Cu cut-off grade
· Pre-feasibility Study (PFS) for the T3 Copper Project completed in January 2018 confirmed a robust, long-life open-pit copper mine based on a base case process plant throughput of 2.5 million tonnes per annum (Mtpa)
· Feasibility Study targeted for completion in Q1 2019, based on an expanded process plant throughput of 3 Mtpa, with allowance for a possible future staged expansion
· Encouraging exploration drilling results from A4 and A1 Domes support T3 expansion strategy to define additional sources of ore within the T3 Expansion Project that could enable future increases in production throug
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