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JustStayin

690 Posts.

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18/09/18

21:44

Post #: 35682977
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Originally posted by Cashmeoutside ↑

I have never seen Sprott as a direct holder in MOD though they do own a lot by virtue of their MTR holdings.

I’m still decifering the ann but it seems Sprott had 7.96% of 1,13bn SOI pre August (90m shares). They then participated in a private placement of 93m additional shares direct and then added a further 38m shares by the looks on market to now hold 222m shares (16.41% of the 1.35bn shares now out on issue) - plus a number of warrants. The placement occurred in August so I don’t think you can say this accumulation all occurred in the past week.

Nonetheless a good show of confidence from a reputable investor in the natural resources sector...good to see they see the potential in the area as I’m sure we all do.

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If it helps...
Sprott's previous investment in MTR was expressly ringfenced for the Botswana JV.

Sprott wants to get a stake here but MTR offered them warrants (6p) so that was their route in.

MOD Price at posting: 40.5¢ Sentiment: None Disclosure: Held
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