Share Talk attended this high profile event last week to catch up with one of our most followed stories of the last year, the MOD/MTR JV in Botswana. We listened to Mr Jacques Janse van Rensburg give a 10 minute presentation during the conference session on day 1.
So we all (probably) already know about the MOD/MTR 70/30 JV that hit a significant sediment-hosted deposit at T3 in Botswana…
And we also know that MOD have raised a substantial $21M AUS in the last year alone to further fund the project towards production and that MTR have recent had a cash injection of £4.85M via Sprott. The board and management own 15% of the shares and Jacques was keen to point out “there are not many Copper projects worldwide at the same stage as T3”.
As Jacques bullishly pronounced MOD as “the best performing metals miner of the last year on ASX” we then got into the bones of the presentation. Here are some of the highlights (of which there were far too many to highlight within 10 minutes!):
- 11,000 sq km of exploration work is still to take place, 1,000 sq km of this will be at T3 alone. See diagram below to give you an idea of what has already taken place:
- Based on a predicted Copper price of $2.53 AUS the NPV of T3 is $180M AUS.
- Lots of assays still to come (11 holes) – TBC in PFS expected August 2017.
- Aim is for 25,000 tonnes per year production, to start mining mid 2018.
OK… so granted, my blog isn’t a warts n all/geo-friendly exercise on the validity of all the technical data presented… 10 minutes wasn’t nearly enough time for Jacques to talk through the whole presentation but hopefully I’ve picked out the key highlights… and what investors should gleam from this is that MOD Resources Ltd (together with Metal Tiger Plc) are very much on the cusp of something quite massive, and this is no understatement. Further funding will be required to take it into production and there was a mention of scouring global markets (such as North America and the UK) in order to do this. It isn’t an investment without risk so DYOR as always.
No doubt we will see Jacques and the rest of the MOD team back on these shores later this year, hopefully with PFS news, and who knows what else…
I’m sure the MOD presentation from 121 Mining London will eventually be posted here: http://www.modresources.com.au/company-presentations but in the meantime if you check their previous presentation from the World Copper Conference you will get the gist of what was presented at 121.
Thanks to Charlie and the team at 121 for what was a a great event for investors, companies, and sponsors alike. Here at Share Talk, we believe that the 121 team could be on to a winner here with this format that certainly has the investor at the heart of it’s thinking. Where else can you ensure guaranteed private conversations with the management teams of as many companies as you can shake a stick at?
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