RE: MOD sale and MTR valuation28 Jan 2019 13:55
And you'll stay waiting mate.
I've not posted any such figures since invested, and after waiting 3 or 4 years for a dfs, I'm more than content to wait until then for a more accurate assessment. (Q is, how many other entities have the same outlook eh!)
I'm not bashing the rights issue btw. It's a safety net for existing investors if they do get bought out for a low sum. It should be recognized as such is all I'm saying.
I'm against an offer this low. A $1 offer like you suggest is years out, a producing mine scenario, or a mongo 2% NPF zone. If this sandfire bid sparks some other interest, I'd like to see a t3 jv, with mod/mtr package ringfenced. If no interest for that, well, who knows.
I always dreamed they could keep control of the asset. Dreams and resource investments usually don't mix well, but at least the team have a cv behind them.
But to answer your question, no sale for a few years, ergo no price. Drill out the acreage. Progress t3. Dilute/raise capital as required. Reassess when copper pipeline is actually starting to show weakness.
That's my personal opinion as is. I can afford to wait it out. I like risk. But nobody is waving a load of wonga under my nose...and that always, always walks the walk.