MOD potential breakoutMOD 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.
MTR
Copper Copper CopperMOD Resources are aggressively defining a large scale high grade resource in Botswana, at least 8 rigs are currently in action with several other price catalysts anticipated near term.
There are close to 2 billion shares on issue therefore this tends to move somewhat slowly however as has been seen by the historical shifts when it does move it can be significant.
The current trade concept is for a 32% move out from an extended base. From an entry at 5.3c with the exit marked at 7.0c, should this hit, stops will be moved up and strength reassessed before closing the trade as over the longer term my target is above 10c
$MOD Resources potential break out tradeASX listed MOD resources are developing a large copper project in in the Kalahari copper belt of Botswana in partnership with AIM listed Metal Tiger AIM.MTR
Chart has seen a long consolidation zone around the 6c mark with recent volume entering at the long term trend line, suggesting a break out is likely to occur in the near term. This aligns with potential resource expansion from the companies T3 copper project. Should volume continue to enter and break out to the top side of he triangle then the chart gives a target of $0.105.
Copper price in blue on chart has seen significant growth over the consolidation period and does not yet appear to have been priced in by the market
Major Trend Reversal Trading (Part 1)The basic premise of Major Trend Reversals, From Al Brooks Video Series. I will be trading this way for a while.
