Since August 15 MOD has shed 26% (from 50c to 37c) with the volume of shares traded totalling 5.8m or 2.5% of SOI.
During the same time period MTR shed 6% (from 2.55 pence to 2.40 pence) with the volume of shares traded totalling 192m or 14% of SOI.
That’s really low volume/turnover from MOD - just over $2m.
MTR is now around A$60m mcap and MOD A$85m.
Now it’s a bit of an unfair comparison as there are many factors at play but we’re mostly in the same business so I don’t think the comparison is unwarranted. In my opinion MOD is being crippled by both a persistence seller, getting out (or manipulating price) for whatever reason and a real lack of buyers - and probably a poorer, more retail heavy share register (as opposed to fundamentals).
Sure the follow up A4 results post the first intercept on 6 August were a bit lacklustre to bring in new investment and the macro Cu space hasn’t helped but I don’t think it was worth shedding 26%. Still a bit going on here as evident by continuously hitting Cu - more assays from A4, assays from A1, T20 public review period end and start drilling at T4/T23.. plus the London listing.. all in the next month or two. DYOR and GL.
MOD Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
