Blue ocean used go have it above 12cents ($1.20) but have brought it down as well.
I think a mixture of dilution with the cap raising, and most recently copper price would be hurting any back of envelope calculations.
Brokers are still pricing in a target where exploration is the way to a re-rate, so everyone is waiting in assays.
But the general copper market atm and lack of any real price changing news for MOD in over a year has probably eased the price targets.
For me,I recall one mention of drills at T1 intercepting mineralization on thr NPF contact, but for all the T3 and even the recent A4,,,, we've heard nothing if T1,,,, which is another unknown that currently can't contribute to any price target as we just don't know what the result will be there..
I'll be pleasantly surprised if it turns out to be an economic feeder for T3,,, but no news always feels like bad news to me.... A big package of assays can't be far off for T1 though.
MOD Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
