MOD Resources Ltd (ASX: MOD) is an Australian-listed exploration and development company with a goal of becoming a substantial copper producer. After discovering copper in the first drill hole in March 2016, MOD is less than 5 months away from completion of a feasibility study for its 100% owned 60Mt T3 Pit Project in the Kalahari Copper Belt, Botswana.
In parallel with the development of the T3 Copper Project, a major exploration program is underway across a combination of 100% owned and JV licenses covering ~11,700km2, to explore for additional resources that could be processed through the planned T3 plant, potentially adding significant value to the project.
MOD owns 70% of a UK incorporated joint venture company, Metal Capital Exploration Limited, with AIM-listed Metal Tiger Plc owning 30%. Metal Capital’s wholly owned subsidiary, Tshukudu Exploration (Pty) Ltd runs the JV Exploration Assets in Botswana. The in-country operating company for the T3 Copper Project is Tshukudu Metals Botswana (Pty) Ltd (MOD 100%). ‘Tshukudu’, meaning rhino in the Setswana language, manages all the daily on-site activities with specialist inputs from Australia.