MOD - MOD Resources - Aussie Stock Forums

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  1. #1
    Off into the sunset Country Lad's Avatar
    Join Date
    Jul 2005
    Fulltime travelling

    Default MOD - MOD Resources

    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.

    Country Lad

  2. #2
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: MOD - MOD Resources

    Mod resources are sitting on NZ's biggest undeveloped gold deposit with a JORC resource.
    18.7million tonnes grading 1.71g/t using a 0.70g/t cut off, for a JORC compliant inferred gold resource of 1.024Moz.
    The 1.024Moz resource is all confined within an 800m section of the Main Zone prospect, which represents less than 15% of the known 6km strike length of the Sams Creek dyke.

    They also have the strategic and highly prospective ~10,000km2 holding between the Boseto
    and Ghanzi projects on the Kalahari Copper Belt – Africa’s newest copper-silver mining province
    • Immediate success with first drilling program - maiden resource estimate pending from the Corner K prospect
    • RC exploration drilling to continue throughout 2012 for new copper-silver discoveries
     Final drilling results from Corner K discovery on Botswana’s Kalahari Copper Belt include high-grade copper (12.9%) and silver (208g/t) assays
     All but 4 of 138 holes (19,139m)
     Snowden Mining Industry Consultants engaged to prepare independent JORC compliant mineral resource estimate for Corner K discovery
     Maiden resource estimate scheduled to be completed in the September Quarter

    The final diamond assay results received by the Company include:
    • 0.6m@12.9%Cu and 208g/t Ag in hole MO-108-D from 127.4m
    • 4.2m@1.9%Cu and 49g/t Ag in hole MO-104-D from 54m
    • 3.5m@1.8%Cu and 48.5g/t Ag in hole MO-112-D from 184.5m
    • 3.4m@1.4%Cu and 30.6g/t Ag in hole MO-99-D from 147.6m
    • 4.1m@1.1%Cu and 31.9g/t Ag in hole MO-98-D from 56.4m

    > 100 km of priority copper-silver target zones already identified
    • New drilling programs to focus on northern lease PL141 and southern leases PLs 34, 35 and 36
    • Final data from high resolution airborne geophysics to refine target definition

     Produce maiden resource estimate for Corner K copper-silver discovery
     Continue RC drilling priority targets for new discoveries
     Continue geochemical and geophysical programs to expand pipeline of drilling targets
     Ongoing optimisation of ~10,000km2 Kalahari Copper Belt footprint
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

  3. #3

    Default The fall of MOD


    I was watching MOD Resources Ltd (MOD.AX) over the last few days. The stock seemed to be on a steady climb, as pictured below..


    Now, riddle me this..How does a company that seems to be on an upward trend, go into trading halt and once they release some relatively good news (in short they let the market know they had achieved multiple intersections of zinc, copper and silver at varying percentages within an overseas site), they re-opened for trading and tank heavily, and then tank further today.

    I'm admittedly new to market analysis, but can't seem to fathom the logic for this occurrence. I can only summarize that the market was expecting much better results/ different news altogether and turned their back on MOD when they did not deliver.

    Does anyone have a theory as to why such a significant drop would occur on such inoffensive news? Frankly, it's quite frightening.


  4. #4

    Default Re: The fall of MOD

    Quote Originally Posted by Redacted View Post
    I can only summarize that the market was expecting much better results/ different news altogether and turned their back on MOD when they did not deliver.
    I think you'll find that this is probably the reason. I took a quick look at the results and the higher grade intercepts seemed narrow and at depth. I think it's probably just a case of people having expected more and profit takers moved in when the reality didn't match the expectations.

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