Hi Jonathan, I have taken heart from @JID that a cheap takeover...

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fightinggreed

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05/09/18

15:29

Post #: 35430695
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Originally posted by Dr Jonathan West ↑

As you say it is too early to call exactly what we have here. However, I take comfort from not only current exploration results and the multitude of priority targets but from the fact that we are clearly in a copper belt and we can see that these deposits repeat.

You only have to look immediately next door (to the east) where Cupric Copper, having picked up Discovery Metals Boseto resources and exploration ground, now have a combined resource of plus 400 million tonnes at plus 1% copper and useful silver credits, across a number of deposits. One of the clear similarities between the MOD ground and DML/Cupric ground is that there are multiple resources - all with similar characteristics but the repetitive nature is most heartening.

I fully expect that MOD will have a similar situation of multiple deposits, feeding a central mill, if we are lucky enough to get to production before one of the majors decides to make a T/O bid. If the latter was to eventuate, there may be a need for shareholders to form a 'coalition" and try and ensure that any T/O was at or near fair value ... and that is always hard to determine when only a small proportion of what might be the final resource has been identified.

In the meantime, and despite market apathy, the latest exploration results are more than encouraging and are suggestive of a company maker here. Liked them so much I loaded up again yesterday on the current price weakness.

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Hi Jonathan,

I have taken heart from @JID that a cheap takeover is unlikely here. Board and management control such a large portion of the stock that a low ball offer can be easily fended off. It's just a matter of patience. Something I struggle with, but something that long term holders of MOD are growing in.

Cheers,
Tim.

MOD Price at posting: 40.5¢ Sentiment: Buy Disclosure: Held
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Hi Jonathan, I have taken heart from @JID that a cheap takeover...

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