I think that is a pretty good expression of the current...

I think that is a pretty good expression of the current sentiment.
If they go out in the next 12 Months and uncover three more T3's through exploration, then all holders will benefit despite the dilution... And I guess as your last line says, they have made the decision to risk short term punishment for the best shot at uncovering as much value as they can...
It does feel make or break, but whether they do it slow or fast, if new discoveries aren't made then holders will suffer...
I'm personally tired of holding a few companies that drag out exploration, with ever the promise of the region paying off, but meanwhile year on year the company wants more and more funding from the pockets they think go on forever.
I'm happy MOD wants to throw everything at exploration.
I hope that they at least speed up in submitting for target approvals in a more timely manner... Seeing its a 6 Month wait for approvals now, and no excuses for waiting for approvals when 18mil is thrown into this phase..
And obviously,putting your moneg into MOD right now is essentially putting a bet in on the odds they find more T3 deposits..
I agree that without new finds, riding all these cap raises to production of T3 will be painful and not pay off the worth of tieing up capital for 3 years...