Hole 2 looks much better. Surely this is cheap on T3 alone. They...

Hole 2 looks much better.

Surely this is cheap on T3 alone. They have a big enough resource to double reserves there easily enough and with bigger throughput NPV should be A$500m+ over time.

Exploration success elsewhere just builds the investment case.

We could see Cu prices of $3.50/lb by the time MOD get to production further increasing cashflow/NPV.

I don't know where this general market is going and could get a lot worse before it gets better but I think there are some chances moving forward for LT FA investors to get set on some quality projects at value to deep value prices.