MOD Resources Release Half-Year Financial Report

- August 29th, 2018

According to the company, it is currently working on the feasibility study for its T3 project in Botswana, which is expects to be completed by the first quarter of next year.

MOD Resources has released its half-year financial report, detailing a corporate update, information about the T3 copper project in Botswana, and exploration progress.

According to the company, it is currently working on the feasibility study for its T3 project in Botswana, which is expects to be completed by the first quarter of next year. The pre-feasibility study was completed earlier this year, “confirming [a] robust, long life copper mine.”

As detailed in the press release:

Regional Exploration

  • Major T3 drilling campaign started at numerous AEM targets at the T3 Dome complex following EMP approval, with significant visible copper hits at A4 Dome
  • Extension drilling for potential T1 Mahumo underground resource
  • Trial AEM survey at T20 Dome provides encouraging early results

Corporate

  • AU$18.3M (before costs) raised through share placement and entitlement offer
  • Binding agreement with Metal Tiger to consolidate 100 percent of T3 Project and rights to acquire all of the
  • other JV exploration assets
  • Cash on hand A$17.3M and debt free
  • MOD to seek dual-listing on the London Stock Exchange
  • 1 for 10 share consolidation completed

Click here to view the full MOD Resources (ASX:MOD) press release.

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