New research note on MOD (London listing), by Edison

Valuation: Undervalued even at our base case

We value MOD at a price of £0.39 (A$0.64) per share using a SOTP valuation for the T3 deposit and other early-stage projects. This provides an upside of 117% on the current share price. T3 has a very low capital intensity compared to other projects and an all-in sustaining cost in the bottom 35% of global copper projects. We believe MOD offers attractive exposure to a commodity with attractive supply-demand fundamentals over the mid to long term.

Grab it here:

https://www.edisoninvestmentresearch.com/research/report/mod-resources/preview/