I don't hold this stock anymore, used to be a holder and made...

I don't hold this stock anymore, used to be a holder and made good profit.

Anyway, I think MOD is on right track to prove up resources... most likely they will sell out the Botswana project. Even if only $10-15m sell price it is still double current market cap. Further it has NZ gold project to add more value.

However, they still owe $2m in debt. IMHO creditor (also the largest holder) will convert to shares. This means too much dilution at current sp.

I'm keep my eyes on this one and hoping to buy some shares.

One reason keeping me out of this stock is dilution (now 1 billion shares on issue), low on cash and $2m debt (may be convert to shares... more dilution).