Morning Guys, I agree Cashmeoutside - MOD is cashed up and can...

Morning Guys,

I agree Cashmeoutside - MOD is cashed up and can continue to drill holes and add value during this funk.

Also remember that Metal Tiger have to fund 30% of the exploration budget.

It is equally good that they have just completed their capital raising and now have funding in place to pay for their share of the drilling - no delays whilst they scramble to fill the kitty. I have also been informed (as I participated in their CR) that Sprott is helping guide MTR and, as such, MTR is focusing solely on their Botswana assets.

We, as shareholders, just have to 'embrace the suck' and let the MOD drills find a lot more copper.

Whilst the market couldn't care less about Cu assets right now, the sector participants certainly do:

(1) NSU BoD have just accepted a much higher offer from Zijin Mining (US$1.41B), rebuffing Lundien's previous offer. Timok is now out-of-play via a competitive process.

(2) BHP has just backdoored into SOLG via a 6.1% stake bought off GUY for a 20% premium ... now SOLG has two BSD's on the register (Newcrest and BHP) which could create competitive tension.

(3) S32 has a large stake in Trilogy (Alaskan Cu asset, undeveloped) and could take that out.

(4) RIO have expressed a desire to increase their Cu exposure

(5) Hancock Mining has bought all the tenements surrounding SOLG's Casabel in Ecuador for c. $234m

(6) FMG is looking to get into Cu to diversify away from Iron Ore

(7) Lundien, having lost out to Zijin over Timok, still has an empty development pipeline and needs a Cu asset.

Then add the M&A which has already occured in the last year (AVB, AOH, FND) and you realise that there isn't a lot of quality assets left.

These guys aren't spending lots of $$ because they think Cu is entering a LT bear market.

Cheers
John