I would kick the ASX, but they may create a wonderful buying op...

I would kick the ASX, but they may create a wonderful buying op for the early birds tomorrow.

Even the prelim upside case at $3 is conservative - I have seen a number of PFSs recently using $3.25/lb as a consensus figure. To go from a greenfield site to a $300m NPV and 2-year payback within a year is just outstanding operational delivery by MOD.

And note comments regarding the step change in exploration activity in 2017 as they hunt for more T3-type deposits along the 14-km stretch - that drilling is already underway.

And in advanced discussions with a number of UK and AU mining investment funds, as they look to get back into the sector.