Another good RNS regarding the Botswana copper prospect landed today (see here).
T2 drilling has commenced with the first two holes and soil sampling has indicated up to 83 ppm Cu and 87 ppm Cu, this is 196% – 210% better than the T3 results.
Visible copper mineralisation started 8m down hole and therefore very shallow.
The first two drill holes have highlighted that T2 has the potential for significant copper mineralisation and is potentially a better prospect than T3.
The RNS also highlights that more results coming very soon for T3 and JV is on target to deliver resource estimation in September and end of year for open pit mine viability.
Looking at the share prices of MOD and MTR indicates a good correlation between the two companies share price.
However this all changed on Friday the 12th August 2016 when the MOD Resources share price surged ahead.
This year until the 59% spike on the 12th August the largest gap between the two companies share price had been 24% from the base line.
If the correlation between the two businesses share price is to return to normal the MTR share price should rise to a minimum of 4.96p.
Alternatively the MOD share price could fall.