My theory is that there is no less high grade copper in the ground now then as there was in 2012 when the price was 9.3 cents. The cycle will turn and we will have a JORC compliant asset ready to mine.
The importance of this asset is the potential to undertake profitable copper production, even with current suppressed global copper prices. If we assume a recovering forward price profile for copper, the strategic value of the newly acquired licences will increase accordingly.
MOD Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
