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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 28/02/17

1 year TSR5 year TSR
15thMOD Resources1107%-27%
144thMacPhersons Resources142%-4%
253rdLiontown Resources69%-6%
419thHammer Metals23%-46%
534thRMA Energy0%-30%
694 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

04/03/17
$0 Other
21/02/17
$0 Bought
21/02/17
$92k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

275th↑MOD Resources$70k
295th↑RMA Energy$44k
296th↑Liontown Resources$43k
298th↓MacPhersons Resources$42k
299th↑Hammer Metals$40k
502 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from MOD Resources

928thJulian Hanna$160k
1132ndMark Clements$108k
1514thSteve McGhee$53k
Ranked by total remuneration from all listed WA companies

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