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MOD have continually bamboozled me with what seems like poor...

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Juno

3,881 Posts.

22/04/17

14:49

Post #: 24210939
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Originally posted by sharman ↑

G'day peeps, below is merely my uninformed opinion nothing more. Let me start by saying I invested seconds after the release of the trading halt on the 17th of February this year. That was a golden opportunity or should I say a copper opportunity lol.
T3 is a great deposit in terms of the fact its close to surface, has large widths of copper and the metalurgy studies are very positive.
Management both in Mod and Mtr have a proven track record of success in bringing a successful mining operation to fruition here in Australia with a company called Western Areas.
Managements ability to pump out a resource so quickly and at such low cost is a real testament to there previous experience and success in mining. Quality management in the small cap mining sector is rare.
In regards to the status quo at T3 im quessing nothing more than a guess. My guess is current pending results are mediocre at best and grades maybe around the 1 percent mark. Another guess is not a lot of further mineralisation has been discovered since the last announcement. My guess is that if we had further significant results they would have been announced. Assay results and a drilling update should be released in the quarterly.

As stated previously management are waiting for environmental approvals before further drilling may go ahead at the other T's. Unless T3 throws up any further significant mineralisation share price growth and excitement in regards to exploration will have to come at the other T's.

No matter how exciting the the size and potential of the tenements we hold there are absolutely no guarantees in finding further economic deposits. Time and time again i have seen very exciting exploration stories amount to nothing. Exploration success is very elusive and the vast majority of small cap exploration miners fail.

That being said by all accounts Mod already have an economically viable deposit at T3. With lots of luck and hard work hopefully Mod are able to come across more economic mineralisation in Botswana. I believe management were very prudent in securing extra funds in the recent capital raising.

All of my above commentary is nothing more than my opinion. Also in the interest of accountability at this stage of the game, I have probably lost more money than I have made gambling on exploration stocks. As I am a gambler and a risk taker, I will hang onto my Mod shares in the hope of further exploration success.

Goodluck peeps and I hope you all have a cracker weekend.

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MOD have continually bamboozled me with what seems like poor management of newsflow (not to mention obvious errors in data that go without formal correction), to the point that I lost faith and sold out and then bought back in once already, but only half as many.

It is almost like they don't care, luckily so far the results have been talking for themselves but I really don't see a pattern so I feel based on the past the current lack of news could portend poor results or great results, hopefully metal tiger will keep them honest.

MOD Price at posting: 6.4¢ Sentiment: Hold Disclosure: Held
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