Junior copper explorers are looking mighty hot as the big guys hunt for deals

The copper market is heating up and recent news that the $1.1 billion Sandfire Resources would snap up junior explorer MOD Resources at a nice 45 per cent premium proves the majors are cashed up and looking to do deals. Deals like this, which is priced at $167m, are a win-win for both parties.

Sandfire (ASX:SFR) boss Karl Simich said the acquisition of MOD (ASX:MOD) added the near-term T3 copper project in Botswana to Sandfire’s global development pipeline, while also adding a significant landholding on the highly prospective and underexplored Kalahari copper belt.

Meanwhile, MOD managing director Julian Hanna said MOD viewed the deal as an “opportunity to maximise value” from the T3 project, which could be funded from Sandfire’s balance sheet and cash flows.

Metal Tiger Plc (LON:MTR) is a London Stock Exchange AIM-listed investing company primarily focused on undervalued natural resource opportunities.In Botswana, Metal Tiger, through its JV with MOD and its interest in Kalahari Metals Limited, has a growing interest in the large and highly prospective Kalahari copper/silver belt. 

Click to view all articles for the EPIC: , ,
Or click to view the full company profile:
    Share on facebook
    Share on twitter
    Share on linkedin
    Metal Tiger Plc

    More articles like this

    Metal Tiger Plc

    Top banks say gold may see a record rally by 2021

    Morgan Stanley, JPMorgan, and Goldman Sachs all foresee the gold price rallying by 2021. According to a research paper from Bloomberg, the precious metal’s uptrend can fuel a Bitcoin upsurge. Top financial institutions in the U.S. attribute the positive sentiment

    Metal Tiger Plc

    Copper’s fifth weekly gain

    Copper prices were heading for a fifth consecutive weekly gain on Friday as inventories declined and stock markets rose while demand improved in top consumer China. Investors are increasingly optimistic about an economic rebound, with the mood bolstered

    Metal Tiger Plc

    Copper secures fourth consecutive weekly rise

    Copper futures’ prices rose on Friday and had coffered their fourth consecutive weekly percentage gain as a significant scale of decline in inventories has been pointing towards a turnaround in demands, while traders across the globe were expecting a

    Metal Tiger Plc

    Cooper jumps to 20-week high

    Shanghai copper jumped on Wednesday to its highest level in nearly 20 weeks, recouping almost all of its losses caused by the COVID-19 pandemic on strong demand in China and low stocks. The most-traded July copper contract was