MOD won't win any awards for best announcements, but they know they are on a path to something big. It's a spec stock and accordingly you will see the price fluctuate good and bad until the drill results confirm what a tremendous find this really is. Have a read from tonight's MTR post on LSE Forum.
Julian already had 3 x cold calls from "big players" interested in knowing what they've found. No names but Rio are known to be looking for copper assets, and for assets in Bots. They must be top of list.
MOD model is take to PFS and flog, they are not miners they are explorers and early developers. Get to NPV stage and then flog. yes you'll get a discount to the NPV but since it's likely to be or the order of several billions in value on a good day then even with discount could still be $500m to MOD and so £100m to us without breaking into sweat.
Someone recently sold 10% of a Tier 2 copper asset for > $1billion.
Finally, Terry at top of his game. Needs a big bragging-rights project. His enthusiasm tells you this is MASSIVE and his continued enthusiasm tells you it's not some piddling middle of the road thing. It could easily turn out to be the biggest copper discovery in decades.
MOD Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
