Probably due to traders working the news on copper prices expecting a dip to buy in again with talk that BHP are talking to striking miners in Chile and Indonesian supplies are looking better. Day traders, short, medium and long term trades all operate on different parameters. The fact is, big deposits like we are turning up are pretty scarce and we are cashed up to check it out.
So the economics and comparative advantage will determine MOD profitability. Just see this as market noise at the moment. Got to ask yourself where do you expect copper prices to be when they are actually producing and how big can we grow the resource in the meantime with 4 drill rigs to consolidate comparative advantage in production. These boys have done the numbers IMO. I will enjoy the ride.
MOD Price at posting:
7.8¢ Sentiment: Buy Disclosure: Held
