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MOD Resources (MOD)

Business description

MOD Resources is an ASX-listed exploration and development company focused on the Kalahari Copper Belt of Botswana. The flagship T3 deposit has a JORC 2012 compliant mineral resource estimate of 60Mt at a grade of 0.98% copper.

Stock data

Market cap.A$83.3m
Last closeA$0.34
High / Low (52 weeks)A$0.6 / A$0.2
Stock market listingAU
Forecast net cash (A$m)9.8
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual42.6(8.2)(45.9)
Relative *33.5(7.7)(43.7)

* % Relative to local index

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Y/E Dec Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (c) P/E (x) P/CF (x)
2016A 0.0 (1.1) (1.2) (0.9) N/A N/A
2017A 0.0 (2.5) (2.3) (1.3) N/A N/A
2018E 0.0 (5.0) (5.0) (2.2) N/A N/A
2019E 0.0 (3.2) (4.2) (1.4) N/A N/A

Last updated on 19/12/2018

Latest research

Investment summary

MOD Resources has raised A$10m through an oversubscribed institutional placing at a price of A$0.30/share (17p/share), a 36% premium to the closing price on 18 January 2019. The company also intends to raise a further A$5m through a fully underwritten rights issue at A$24/share (13p/share). In addition, the company has received an unsolicited, non-binding, indicative all-share offer from Sandfire Resources (SFR:AU) at a price of A$0.38/share (21p/share). The board of MOD believes the Sandfire offer undervalues the company’s assets.

Last updated on 22/01/2019

Key management

Stef Weber, CFO
Mark Clements, Executive Chairman & Company Secretary
Jeffrey Sansom, IR Manager
Julian Hanna , Managing Director

Company address

First Floor, 1304 Hay Street
West Perth
WA 6005
Australia
(61 8) 9322 8233
View website