So perhaps the share price might drift down in the coming...

So perhaps the share price might drift down in the coming months. staffandkit is correct, the value lies in the resource, which is likely to come in as around 500,000t of Cu at a grade of 1.4-1.5% (not including Ag). Cant beat simple maths. All within 200m of surface. Ive said this before, but for the goldies that equals 2MOz at a grade of 1.9-2.0 g/t AuEq (for some perspective). Imagine if a west aussie gold developer had an open-pitable resource like that, they would be +$500m market cap....

Take Dacian Gold, who released a scoping study mining 493,000Oz of open pit resources at a grade 0f 1.36 g/t Au, and 818,383Oz of underground resources at a grade of 5.37g/t Au. They would be producing 220,000Oz per annum at an AISC of $929 per Oz. Open pit strip ratio is 6.5:1

Dacian Market Cap - $442million.

Perhaps its because copper is in the doldrums, and gold is flying high, but for me MOD is still very undervalued.

If anyone wonders why there is support at 5.0c, its probably me.