GBP/USD and GBP/EUR is currently on a downward trajectory post...

GBP/USD and GBP/EUR is currently on a downward trajectory post Brexit.
MTR must have benefitted from investing in non GBP during this time.
Of course it helps they invested in the MOD JV

imho MOD appear to have learned from their shrewd partner and they are now managing a steady stream of good news to the market.
I do hope this is set to be a virtuous spiral for both MTR and MOD as I hold both.

This steady stream of good news ought to be the short term sp driver until the market changes from a voting machine to the weighing machine. There ought to be a substantial sp uplift when they announce the maiden JORC resource classification.

The JORC classification will cement the probability of one/some of the other T prospects also being viable/probable.
Since early indications are they exceed T3, I would guess the market will move back to a voting machine as sentiment rockets with it's positive affect on the sp.
If all goes to plan the sp will reflect a mix of certainty of resource value in T3 together with a reinvigorated belief in the potential at the other drilling locations.

The T3 JORC classification is vital. The good news is it is looking highly likely.

Cautious investors will be still waiting on the sidelines ready to boost the sp on JORC news and the link between the MOD and MTR sp may also help each other in the rerate.

MTR and MOD have both signaled their commitment by extending the focus from T3 and with MTR open Metal Tiger Australia MTR look to be in for the distance. imho this all bodes well.

atb
JS