MOD a Kalahari Copper Belt explorer are actively defining a large copper resource. Current bull case based on the small portion of the tenements explored to date is for a USD2.3b copper resource (coincidentally there are 2.3b shares on issue therefore $1 of resource per share), as they continue to drill out the targets this resource is expected to grow.
AISC for the LOM are projected to be around $1.46/lb against a current copper price of over $3 with IRR at 38-39% based on a 9-12 year LOM. With a solid exploration program ongoing both the LOM and resource size are expected to grow substantially.
Initial technical target is 6.0cps representing a 25% upside move from current share price, secondary target is the old high at 9.0cps representing an 87% increase in SP
With the ongoing drilling across several fronts, T3 underground expected to be booked as resource around July/August and the T3 pit DFS delivered in the second half of the calendar year significant catalysts are in place.
AISC for the LOM are projected to be around $1.46/lb against a current copper price of over $3 with IRR at 38-39% based on a 9-12 year LOM. With a solid exploration program ongoing both the LOM and resource size are expected to grow substantially.
Initial technical target is 6.0cps representing a 25% upside move from current share price, secondary target is the old high at 9.0cps representing an 87% increase in SP
With the ongoing drilling across several fronts, T3 underground expected to be booked as resource around July/August and the T3 pit DFS delivered in the second half of the calendar year significant catalysts are in place.