Member Info for taylot

Cough...

That is Rick Rule has personally taken 60m shares.

Here he is, was wondering how long it would be... Yes £1m short. Good!!!! Less dilution at this tragic price for a start. But more importantly the BoD have listens to investors concerns regarding sprott associates (ie not exploration capital) and limited their uptake. Keep an eye on the market cap with KML exposure being increased to 50%, MOD DFS due shortly followed swiftly by resource upgrade and decision to mine. I fully expect MOD to receive further offers. Rick Rule has bought £1m at 1.45p. Cashmong thinks this is overvalued at 1.3p... I don’t think you even believe your own words. Is that the tea bell I hear ringing????

Excellent from MTR, they listened to shareholders concerns reference the previous sprout raise and minimal shares have gone to Sprott affiliates. Rick Rule himself has taken £1million worth of stock!!!!! If ever there was conviction for buying then that is it. Fully expect to see MTR increase to 50% of KML and I understand that self funding drilling is under consideration which speaks volumes of the targets!!!! MOD DFS and resource upgrade imminent. What’s not to like here. Onwards and upwards.

What it basically means is that instead of what was previously thought the target is actually anticlinal, this effectively means the target is a dome similar to T3 and is now more likely to be near surface. It is extremely close to MODs T3 pit and therefore should a resource been proved up will be shown to be very valuable. So much going on behind the scenes here. MTR perfect toy placed to take full advantage of the KCB. Share price action is still incredibly frustrating, patience as ever is key. I imagine the KML IPO will be put further back and a few drills will be sunk first, could be a master stroke IMO. MTR soon to go to 50% as well I expect. ATB.

Did you not get the office memo cash??? Tea boy is always last I guess ;-) Time to start posting positive - again...

Classic braindead LSE basher post. And by a newbie - what a surprise.... cough. Host : "Do you see yourself having to come to the market to raise more money" CEO : "I do not... until sometime next year depending on circumstances" Funny how the CEO confirms MTR has the equivalent of $12m in the bank just 3 months ago, yet called to raise... They had £3m in the bank. The equivalent is in equity positions, as you should know.. the majority of that in MOD - would you advocate selling some MOD given current SP and the SFR offer... no. And MM stated they may need to raise, MOD have to ensure they are not susceptible to a low ball offer - only prudent for MTR to do likewise. Am I happy with the raise, not particularly. But dilution is required to progress and progress is being made. Have you met any of the BoD??? I have. Their credibility is beyond doubt, they are very professional people.

No shorts in play IMO, just usual PI chat when there is selling. Placing was offered to many genuine PIs and LTH and not just city boys, trust me. You can buy below placing price on market now... sire they’ll still be some whinging. ATB.

Not if they want the mine - which they do. Nothing will happen (and I don’t want it to) until after DFS. Then let’s see if see other parties show there interest..

It was the quick flip of opinions - just like cashmong - that has ruined his credibility for me. I’m sure they don’t care what you or I say and why should they, but gradually people become aware of these posters. See twitter for certain individuals that are gradually doing the same thing and so the shares they are promoting are being avoided by PIs..

So it was a reasonable offer, but because it was a first bid they had to rebuff it........

That was to the administrators. We all know SFRs recent bid was not reasonable - hence it was dismissed. Doh!!!!!

http://www.mmegi.bw/index.php?aid=52508&dir=2015/july/10

Hi LG. Nice post. The boseto mine was actually the main asset of discovery metals - https://www.mining-technology.com/projects/boseto-copper/ That went to cupric after discovery went bust ( if I recall they bought it for around $50m) MOD/MTR then picked up the exploration licences to ensure completion/exploration.

Not sure about bashing the rights issue Joe - the price of both RI and placing is poor TBF but necessary, better now than next month tho when the market knows its coming and the price is squeezed. Its a way of rewarding some of the long suffering shareholders - i also believe it was a result of feedback from various parties.

Im sure some will flip for the 50%, i won't be. I'm happy to continue to sit and wait for what we all know is coming.

Still waiting for you to give a price that you would personally find compelling as an MOD shareholder.

I do value your opinion Joe. However. The board, most of them are already multi-millionaires - they don’t need the money. Bron Barnes represents the Aussie funds - they won’t except 38c. MM represents MTR - he doesn’t want and won’t except 38c.

So would 38c entertain you? As an MOD shareholder it doesn’t interest me in the slightest.

No precedent doesn’t mean it won’t happen.. Simple question joe/cash, the MOD say they will talk when they receive an acceptable offer. 38c was dismissed. So what do you think they will see as an acceptable offer?? No waffle. Just a price.

Not carried away at all. Three years from now MOD will be sold for A$1 per share?? Well seeing as SFR have already offered 38c which was dismissed out of hand I would say 3months is more likely.. The royalties - yes three years. But the rest is here and now.

Following the offer from SFR the MOD ANN stated "MOD said the offer is too low, considering MOD holds a dominant position in one of the last under-explored copper belts in the world and owns owns a high-quality copper development asset, the T3 copper project." and "the company is willing to engage with sandfire and grant confirmatory due diligence if a compelling price is presented and capable of being supported by the board and shareholders"

With T3 DFS due and further exploration highly likely to find further mineralisation I would expect a "compelling price" to be north of A$1.

A sale price for MOD of A$1 would equate to a value of £40m to MTR (double current market cap)

MTR will still retain the 30% share of the exploration JV. Then add KML, THR, GGP, KEMCO, VETA, PAN Asia, spain and cash...