The company is currently Medical Corporation Australia (MOD) but I can not find a thread for it.
It will change its name to MOD Resources in a few weeks hence the title.
Rumours abounded during December that some leading lights in the resource game were to be involved in this non performing medical company.
All was revealed in the announcement of 22 December , so I thought it worth a punt – a case of backing the jockey(s).
Medical Corporation Australasia Limited (MOD) is pleased to announce the conditional purchase of Amphion International Limited (Amphion), along with a share placement of up to $2.8 million, as part of a proposed move into the resources sector.
The cashed-up MOD will be headed in its new pursuit by well-known resources entrepreneurs Simon Lee AO and Miles Kennedy and will have the financial backing of some of Australia’s leading business and industry figures, including Andrew Forrest, James Packer and former Multiplex director, Tim Roberts.
At the AGM on 16 May, amongst other resolutions are the change of name, change to business activities and the acquisition of GMR Resources.
MOD has already entered into agreements to acquire the highly prospective GMR Copper Project located in the Kalahari Copper Belt in north western Botswana so things are moving already.
Worth a good look and a punt if you are into backing jockeys rather than the horse.