Ann: Exploration Unlocks Copper Potential at T23 Dome, page-32

Hi Pmys

I understand your frustration. I think what we should not lose sight of as investors is that MOD is not purely an exploration play - they already have a development project (T3) with a Net Present Value (NPV) estimate of AUD $370 million as per the Pre-feasibility study (refer announcement dated 31/01/2018). This compares to their current market cap of approx. AUD 75 million. On this basis, MOD looks significantly undervalued, which in my mind provides me with some comfort that the share price will improve over time as the market sentiment improves and/or as MOD progresses the development. DYOR