Julian Hanna, Managing Director of MOD, commented: “We are delighted to be joining a peer group of quality copper companies listed on the Main Market of the London Stock Exchange.
The listing allows us to introduce MOD Resources to European and UK investors as we look to develop into a substantial copper producer. The LSE has a strong track record as a leading destination for companies with African mining assets, making it a natural dual listing destination for a company like ours with an exciting copper portfolio in Botswana’s Kalahari Copper Belt.”
MOD is a copper exploration and development company focused on the central and western Kalahari Copper Belt in Botswana. The Company’s primary focus is the development of its wholly owned T3 Copper Project, for which a Feasibility Study (FS) is targeted for completion in Q1 2019.
· T3 Copper Project Mineral Resource estimate comprises 60 million tonnes (Mt) at 0.98% copper (Cu) and 13.9 grams per tonne (g/t) silver (Ag), containing 590Kt of copper and 27 million ounces (Moz) of silver at 0.4% Cu cut-off grade
· Pre-feasibility Study (PFS) for the T3 Copper Project completed in January 2018 confirmed a robust, long-life open-pit copper mine based on a base case process plant throughput of 2.5 million tonnes per annum (Mtpa)
· Feasibility Study targeted for completion in Q1 2019, based on an expanded process plant throughput of 3 Mtpa, with allowance for a possible future staged expansion
· Encouraging exploration drilling results from A4 and A1 Domes support T3 expansion strategy to define additional sources of ore within the T3 Expansion Project that could enable future increases in production through the proposed T3 process plant
· On 15 November 2018, MOD completed the acquisition of AIM-listed Metal Tiger Plc’s (‘Metal Tiger’) 30 percent interest in the T3 Copper Project, giving MOD a 100 percent interest in this project
· The majority of MOD’s Prospecting Licences outside the T3 Copper Project in Botswana are held as part of a 70/30 joint venture with Metal Tiger and are subject to options to purchase Metal Tiger’s interest in the joint venture exploration assets at MOD’s election over a 3 year period until November 2021.
The T3 Copper Project forms part of the Company’s wider prospecting licences covering approximately 11,500km2 which are prospective for copper and silver and are at various stages of exploration.
In addition to the T3 Copper Project, and potential satellite deposits within the T3 Expansion Project, priorities include the c.60km long anomalous soil zone within the T20 Exploration Project (located 100km from the T3 Copper Project). Diamond drilling in the first two widely spaced holes at the T23 Dome, the first drilling target within the T20 Exploration Project recently intersected shallow visible copper mineralisation with assay results pending.
The Company’s London Investor Presentation is now available on its website.
Tamesis Partners LLP is acting as financial advisor and Memery Crystal LLP as UK legal adviser to MOD in relation to the Admission.
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