These posts are taken from a board discussing Metal Tiger but I...

These posts are taken from a board discussing Metal Tiger but I am sure will be of interest to our friends at MOD.









Sandfire parallel to MOD




okenia
Today 08:42 Is MOD resources the next SFR:ASX in the making?

£500m mcap mid-tier Aussie copper producer. Went from discovery (in 2009) to production in 3 years. Asset near Perth. Key events took place in 2009-2010, and were accompanied by a 100 x rise in the SP from a baseline of ~$0.05-0.10 to > $8.00 (https://www.google.co.uk/finance?cid=705953)

This is a classic example of what can happen when a junior resource stock hits BIG COPPER. 100 x increase in SP and as a proper re-rate, not as a spike. And despite the commodities slump, SFR is still trading today at > $5 so most of those early gains have been retained despite the commodities crash during recent years.

Look at the thicknesses people. Look at the grades. Now think T3.

MOD==SFR

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(from hxxp://www.sandfire.com.au/about/history.html)

MAY 2009
Margaret Hawke, a 25-year old geologist, drills the discovery RC drill hole at Sandfire’s Doolgunna Project in Western Australia. These drill holes unearthed massive sulphide mineralisation at depth in a region better known for its gold discoveries, leading to one of the most celebrated recent mineral discoveries in Western Australia. The first diamond drill hole targeting the new deposit later returned a stunning intersection of 75m @ 2.4% Cu and 47m @ 5.3% Cu; and 35m @ 6.9% Cu at the DeGrussa deposit.

JUN 2009
RC drilling confirms the presence of a second, larger zone of mineralisation – “Conductor 1” – immediately north of the initial DeGrussa discovery.

NOV 2009
Discovery of a third high-grade copper-gold deposit at DeGrussa, “Conductor 4”, immediately adjacent to Conductor 1/DeGrussa.

FEB 2010
Phase 1 JORC Compliant Indicated and Inferred Resource of 7.03Mt grading 5.2% copper, 1.9g/t gold and 15g/t silver reported for the DeGrussa and Conductor 1 lenses – less than 8 months after the initial discovery.

JUL 2010
Discovery of Conductor 5 lens at DeGrussa, approximately 900m north-east of the DeGrussa/Conductor 1 deposits.


okenia
Today 08:44 SFR: "The first diamond drill hole targeting the new deposit later returned a stunning intersection of 75m @ 2.4% Cu and 47m @ 5.3% Cu; and 35m @ 6.9% Cu at the DeGrussa deposit."

Do those thicknesses sound in any way familiar?


okenia
Today 08:57 That google link needs the closing parenthesis removing to work

https://www.google.co.uk/finance?cid=705953


okenia
Today 09:14 And getting the massive Sandfire copper resource funded wasn't a problem. They went from first discovery in 2009 to a DFS and then $380m debt funding in 2011. And then soon into production.

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MAY 2009
Margaret Hawke, a 25-year old geologist, drills the discovery RC drill hole at Sandfire’s Doolgunna Project in Western Australia. These drill holes unearthed massive sulphide mineralisation at depth in a region better known for its gold discoveries, leading to one of the most celebrated recent mineral discoveries in Western Australia. The first diamond drill hole targeting the new deposit later returned a stunning intersection of 75m @ 2.4% Cu and 47m @ 5.3% Cu; and 35m @ 6.9% Cu at the DeGrussa deposit.

JUN 2011
Positive Definitive Feasibility Study delivered for the DeGrussa Project. The DFS was based on a total mineral resource of 14.33Mt grading 4.6% Cu and 1.6g/t gold for 652,000 tonnes of contained copper and 742,000 ounces of contained gold.

SEP 2011
$380 million project loan facility executed for DeGrussa Project development, led by ANZ Banking Group Ltd.