Metal Tiger Share Discussion Threads

[paleje] 23/3/2017 07:49

MOD's performance overnight 11% up and all time high, not bad so soon after a discounted fund raise.

[oilbuy] 23/3/2017 07:23

Close to breaking 3p

[rodrod1] 23/3/2017 07:00

Another cracking night by MOD!

[temmujin] 20/3/2017 22:12

probably good buy indicator when its quiet here

[easwarareddy] 20/3/2017 22:05

Most on lse

[barnetpeter] 20/3/2017 19:50

No posts??? Mtr closed at highs of the day and looks good to break 3p? Strange...

[dreamtwister] 18/3/2017 22:13

MOD may have to consider upscaling its proposed 2Mtpa sulphide flotation plant for T3

TOPICS (select for more information):
CopperJulian Hanna MOD Resources T3 copperBotswana

Copper Investor Hub: MOD has just intersected a substantial, new 72m copper zone directly beneath the existing T3 resource, which is part of a large joint venture with AIM-listed Metal Tiger Plc (30%). What does this new discovery mean for T3’s planned development?

Julian Hanna: Last time we spoke to the Mining Journal, MOD had just established the T3 maiden resource. Literally in the last few days, we drilled a hole underneath T3 and intersected a wider zone, 72.6m of mineralisation grading 1.5% copper and almost an ounce of silver. That’s generated a huge amount of interest because this is right under the planned T3 openpit that we plan to develop in 18 months’ time, so a big rethink is afoot.

In addition to drilling out the new deeper zone, we’re trying to stick to the current development timetable that aims to see us in production around mid-2019. MOD has a fine team working on the PFS now so we’ll just have to work them harder! There are early indications this particular intercept may have a true width as much as 50m right under the centre of the planned pit. Subject to further drilling, this could potentially have a significant impact on how we go about developing T3.

In light of this new zone, we may have to consider possibly upscaling the proposed processing plant and production rate, which are conversations that are starting already.

Copper Investor Hub: T3’s maiden resource was established within six months of discovery, containing 350,000t of copper and 14Moz of silver and the already robust scoping study estimates a 10-year minelife for an openpit operation with a cash cost of US$1.29/lb. How is the pre-feasibility study progressing and are there any areas of particular focus?

Julian Hanna: The scoping study in December indicated a very robust project based on the resource we had at that time. The discovery and drill-out cost was a modest A$0.0022 a pound of copper, which I think may be one of the best in class.

The scoping study was based on a 2Mtpa production rate and early stage feasibility studies are progressing on a number of fronts. However the scope of the current PFS may change depending on the ongoing deeper drilling program.

MOD has commenced the permitting process with flora and fauna studies underway and borefield testing for a potential source of processing water on site planned to start soon. If this is successful and water is sourced at T3, this should be a huge benefit to the project.

Existing infrastructure in the region is very good, with a sealed two lane highway only 12km from site and the substantial town of Ghanzi approximately 80km away from T3. Botswana Power Corporation has advised that they plan to have grid power down the highway by 2020 running past T3, but in case that doesn’t meet the deadline we’ve allowed for a diesel generator power station on site.

Copper Investor Hub: The copper price has risen about 25% in the past six months – where do you see demand for copper headed as T3 goes further down the path towards development?

Julian Hanna: The storm clouds are gathering over copper supply in my book – declining global grades, declining quality, increasing energy costs, and political issues seem likely to impact near term supply.

What we have in Botswana is different, it’s not a low grade porphyry hosted deposit with high capital required, it’s not a flashy VMS-type deposit with a limited mine-life; instead T3 is a sediment-hosted sulphide deposit which occurs at shallow depth within a large virtually unexplored area. T3 has lifted the lid on the potential of MOD’s extensive holdings. There’s also a strong mining culture in Botswana, we have a committed, experienced and wonderful team on site and we couldn’t ask for a better jurisdiction to be operating in.

Copper Investor Hub: Some 20km to the north of T3 lies the T1 (Mahumo) project, which contains a stage one resource of 2.7Mt grading 2% copper and 50g/t silver. How is the evaluation of the potential underground mine at T1 advancing and has it slipped in terms of priorities?

Julian Hanna: No, we have a study underway re-evaluating the underground potential at T1, and we’re planning on expanding the drilling to increase the current resource. Although T1 doesn’t have the width of T3, it has high copper grades with good silver credits. The target is to get the resource to 10Mt which we consider may be sufficient for a potential underground mine that could be a satellite to supply the planned T3 plant.

Copper Investor Hub: Of the many exploration targets in the surrounding joint venture area, which do you believe warrant the most attention?

Julian Hanna: MOD employs many geologists and we all have our favourites! Apart from T3, I like T5, it’s a deep but very large target, T7 where we are currently drilling and T20 just west of our operations base in Ghanzi. They all have the right magnetic characteristics and we’re about to put them to the test.

The guys on site are rapidly gaining an understanding of the geology of T3 and starting to look elsewhere along the main structural corridor for the next T3.

The T3 project area alone is 1000sqkm of very prospective ground, the first stage of a high-tech 3D IP survey has been completed and this has generated some very interesting drilling targets. We look forward to getting that exploration underway soon.

Copper Investor Hub: Contango Funds Management has just upped its stake in the company to more than 7% and MOD’s shares hit a six-month high in early March – what is helping garner interest?

Julian Hanna: Institutional investment interest in MOD has grown rapidly both in Australia and offshore which is encouraging. MOD’s market cap is now north of A$100 million (US$75 million) which we hope will attract more interest in the company.

It’s difficult to speculate on recent comparisons to other ASX-listed copper producers but I think the assets we have in the Kalahari Copper Belt are quite significant, and not just at T3.

Copper Investor Hub: Finally, MOD has flagged selling its some or all of its 80% interest in the 1 million ounce Sams Creek gold deposit in New Zealand although you’ve just extended your licence there, does this project fit in the company’s future?

Julian Hanna: We’ve made it clear MOD is looking to divest its interest in Sams Creek. There are a number of interested parties looking at it now and although it’s a very interesting project, there are clearly no synergies between Sams Creek and what we’re doing in Botswana. So it’s a distraction from the main game and what we see as a huge opportunity for MOD in Botswana.

[scarymonster] 18/3/2017 22:08

Just amend to In the browser and links will work.

[dreamtwister] 18/3/2017 21:18

help...lol.....how to get links to work ? when link is pasted it transfers from http to hxxp the above link has update on mod targets and drilling.

tia

[dreamtwister] 18/3/2017 20:57

hxxp://www.mining-journal.com/copper-investor-hub/copper-investor-hub-resourcestocks-company-profiles/t3-drilling-success-forcing-mod-rethink/

[dubjon] 18/3/2017 12:37

hxxps://www.barchart.com/stocks/quotes/MTR.LS/cheat-sheet
hxxps://www.barchart.com/stocks/quotes/MTR.LS/opinion
Interesting, especially the support and resistance levels.

[oilbuy] 17/3/2017 22:46

1M buys from earlier pops up

[temmujin] 17/3/2017 18:12

off topic...sula could be a 10 bagger by april or may

[dreamtwister] 17/3/2017 12:35

hxxp://prnt.sc/el0ygn

4 drill rigs on site so plenty of more news from mod.

if link wont work type in http

[easwarareddy] 17/3/2017 12:26

Has anyone tried buying more. Struggling to get a quote! Buy order finally went through but struggled for ages

[dreamtwister] 17/3/2017 12:08

stoph this may help !

Botswana Project:


("Metal Tiger" or the "Company")

Statement re: MOD Resources Limited, Share Placement.

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities notes the announcement made by MOD Resources Limited (ASX:MOD) on 17th March 2017. The announcement highlights are:

$14.6M raised in share placement to institutions, professional and sophisticated investors (before costs)
Placement was heavily oversubscribed
A range of quality institutional investors join MOD’s share register

Metal Tiger holds 81,102,302 MOD shares, equivalent to 4.975% of MOD’s issued share capital and 1,541,667 MOD warrants at an exercise price of 6 cents (Australian).

Funds raised from the Placement will primarily be used towards a substantial CY17 exploration program, which aims to extend the T3 open pit to the east and west and at depth, the T3 dome, and to test other targets in the T3 area and regionally.

The Board is extremely pleased to see such high calibre institutions support our growth strategy by participating in this placement. We look forward to an exciting period of exploration and project development in this highly prospective region.”

Michael McNeilly, Chief Executive Officer said, “We’re very pleased by the news today from MOD. This financing further validates the exceptional quality of the Botswana project and we are delighted that this raise will further accelerate the joint venture work program on the ground. We look forward to continuing our work with MOD on further exploration of the T3 copper project. ”

[dubjon] 17/3/2017 11:52

MOD placing RNS just out.

[someuwin] 17/3/2017 09:47

Looking very good now.

[hpotter] 17/3/2017 08:08

ASX: 17 March '17

MOD Raises $14.6 Million in Oversubscribed Share Placement

• $14.6M raised in share placement to institutions, professional and sophisticated investors (before costs)
• Placement was heavily oversubscribed
• A range of quality institutional investors join MOD’s share register

[stoph] 17/3/2017 07:59

I can find the holdings of warrants by MTR on the website but can anyone tell me what shares they hold in other companies

[temmujin] 17/3/2017 06:50

Mod flyingToday 06:36MOD Resources (ASX:MOD) has received commitments to raise $14.6 million from an oversubscribed share placement to institutional, professional and sophisticated investors.

The company is actively exploring for copper, silver and gold in and around the T3 deposit in the Kalahari Copper Belt of Botswana with AIM-listed joint venture partner Metal Tiger Plc (30%).

MOD will use the funds raised from the placement towards a substantial 2017 exploration program.

The company already had significant exploration success in 2017 with the discovery of multiple copper zones below the existing T3 resource.

Earlier this month, MOD announced an intersection of 72.6 metres at 1.5% copper and 27g/t silver, which included 18 metres at 2.7% copper and 52 g/t silver below the T3 deposit.

MOD is also progressing a pre-feasibility study (PFS) for an open pit mine at the potentially expanded T3 project, including baseline environmental studies and commencement of early stage permitting activities.

The placement, which remains subject to the clearance of funds, was done at $0.062 per share.

MOD is continuing with the strategy to test extensions to T3 and conduct a regional exploration program exploring for satellite deposits at other priority targets around T3.

The company’s share price increased by circa 100% since the start of 2017, last trading at $0.081.

Hopefully international traders investors will start taking notice of Mtrs under valuation right now

[temmujin] 17/3/2017 06:42

if this share doesnt hit 3p today then MMs should be rounded up,strung up and then put out of their misery...we dont want these verminous crooks working in the stockmarket!

Today 06:36 thekenner Mod 2.45 No Opinion
Doesn't get any better finished up 9% in Oz.This share has rocketed in the last 6 weeks. So mtr 30% stake must be worth a fortune. Why can't we pass 2.5p? Is this Purely down to mms.?

[scarymonster] 16/3/2017 22:46

Sounds good, although can someone explain what the sentence below means from the article. Thanks.

"But they’ll also be able to take some money off the table as a distribution in specie is planned."

[dr jekyll] 16/3/2017 14:27

Seconded :)

[paleje] 16/3/2017 13:57

good stuff someuwin.