• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Base Metals Market
    Base Metals News
    Base Metals Stocks
    • Base Metals Market
    • Base Metals News
    • Base Metals Stocks
    copper investing

    MOD Resources to Consolidate 100 Percent of T3 Project

    Scott Tibballs
    Jul. 18, 2018 04:59PM PST
    Base Metals Investing

    MOD Resources Limited has announced that it has executed binding agreements with Metal Tiger to acquire MTR’s 30 percent stake in the T3 Project so that at completion MOD will own 100 percent of the T3 project in Botwana.

    MOD Resources Limited (ASX:MOD) has announced that it has executed binding agreements with Metal Tiger (LSE:MTR) to acquire MTR’s 30 percent stake in the T3 Project so that at completion MOD will own 100 percent of the T3 project in Botwana.

    MOD has also executed binding agreements on the rights to purchase, at MOD’s election, MTR’s 30 percent interest in all other joint venture exploration assets with MOD up to 3 years from completion.

    As highlighted in the press release:

    • Binding agreements with MTR to acquire MTR’s 30 percent interest in the substantial T3 project
    • 100 percent consolidation streamlines proposed financing and development of the T3 project
    • Transaction ~14 percent accretive for MOD shareholders in terms of per share ownership of T3 project
    • MOD receives rights to acquire, at its election, all other JV exploration assets
    • These rights provide significant additional option value for MOD shareholders
    • MTR to continue to fund its 30 percent share of JV exploration assets, outside the T3 project
    • Total scrip consideration ~A$26.6 million, significant restrictions including 12 months escrow

    Managing director of MOD, Julian Hanna said:

    “The MOD Board believes this binding agreement with Metal Tiger has the potential to add significant value for MOD shareholders.”

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

    lse:mtrt3 projectasx:modmetal tigercopper investingmod resources
    The Conversation (0)

    Go Deeper

    AI Powered

    Mineral Resources Ltd

    Maritime Resources Corp.

    Latest News

    Completes Two Pools Gold Acquisition

    AFDG via Butembo Acquisition Becomes First US Public Company in the Democratic Republic of the Congo (DRC)

    CoTec Commissions BBA to Lead Feasibility Study for the Lac Jeannine Iron Tailings Recovery Project

    Quarterly Activities/Appendix 5B Cash Flow Report

    Questcorp and Riverside Update Substantial Drilling Progress at the LA Union Gold and Silver Project with Seven Holes Completed at Four Targets

    More News

    Outlook Reports world

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Base Metals Investing Stocks

    Empire Metals

    EPMLF

    Canada One Mining

    CONE:CC

    African Discovery Group

    AFDG

    Copper Quest Exploration

    CQX:CC

    Corazon Mining

    CZN:AU

    Blackstone Minerals

    BSX:AU
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES