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Site work at Mod Resources's T3 copper project in Botswana.

Mod raises more funds for copper project

Copper explorer MOD Resources launched its second capital raising in three months, tapping investors for $14.6 million to fund ongoing work at its T3 project in Botswana.

Perth-based Mod said it had raised the funds through the placement of 235.4 million shares at 6.2 cents each, representing a 2.2 per cent discount to the company’s 15-day volume-weighted average price.

The funds will be used to continue exploration work at T3, where the company is progressing a pre-feasibility study for an open-pit mine.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
115thMOD Resources90%-3%
444thMindax-2%-36%
547thMount Burgess Mining-19%-12%
587thMinrex Resources-27%-7%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

18/07/17
$28k Bought
18/07/17
$28k Other
21/06/17
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

438th↑Mindax$0
439th↑Minrex Resources$0
440th↓MOD Resources$0
441st↓Mount Burgess Mining$0
442nd↑Mount Magnet South$0
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from MOD Resources

834thJulian Hanna$160k
1019thMark Clements$108k
1354thSteve McGhee$53k
Ranked by total remuneration from all listed WA companies

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