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Ann: Sandfire to Acquire MOD Resources - Investor Presentation, page-38

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gjouro

78 Posts.

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03/07/19

21:36

Post #: 39361788
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Originally posted by Cashmeoutside: ↑

MODs focus was on monetising T3 and hoping to find a similar near surface open pittable deposit - what they were chasing at T23. They didn’t appear to want to get involved in expensive deep drilling for UG deposits (they parked A4 and A1).

Based on the drill results to date and what we have seen at Cupric Canyons zone 5 deposit is there is this high grade (>2% Cu) 10m or so thick blanket around the NPF contact across the whole belt which appears economic in places. MOD would never had have the cash to fully tease this out but Sandfire certainly do.

I’ve taken some capital off the table but I’ll likely continue to hold SFR as I rate their mgmt (and the ones from MOD that stayed on) and think they’ll have some success in the Kalahari.

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Sure, but the NPF contact is superficial at Cupric but at ~400m at T3 and much deeper in the other zones MOD holds and therefore get into similar problems as DML. SFR did the right thing just getting T3 and leave the rest to MOD unless copper prices rise after 2021.

MOD Price at posting: 43.0¢ Sentiment: None Disclosure: Held
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