Tshukudu Metals Botswana (Pty) Ltd (TMB) is a Botswana registered Company transitioning from copper exploration into developing a substantial 12-year open pit mine and ore processing operation in Ghanzi District.
MOD Resources Limited (‘MOD’ or the ‘Company’) is a 70% shareholder in Tshukudu Metals Botswana. The remaining 30% shareholder is Metal Tiger Plc (MTR).
Tshukudu’s flagship T3 project (MOD 70%: MTR 30%) is a significant new sediment hosted copper and silver deposit in the emerging Kalahari Copper Belt, Botswana. The Company has progressed T3 from discovery to completion of a Pre-feasibility Studies (PFS) in under two years and has recently announced a major regional exploration campaign.
Tshukudu’s major shareholder; MOD announced in January 2018 the results of prefeasibility study (PFS) for a 12-yr open pit mine and processing plant at T3 located at PL190/2008. The PFS concluded that T3 offers a low-risk, low capital pathway to copper production supported by improving confidence in the long-term consensus copper price. One of the key advantages of T3 is its unique geometry, which provides the opportunity for a substantial inbuilt growth step (Expansion Case) in addition to an extremely robust Base Case. A decision to proceed with the Expansion Case can be made after two years production, which is aligned with the staged pit plan, and could be funded from free cash flow.
In July 2018, the T3 resource was updated to 60M tonnes @ 0.98% Cu and 14g/t Ag containing ~590 000 tonnes copper and 26.9Moz silver (using a 0.4% Cu cutoff.
In addition, more than 100 people including drilling contractors, specialist geologists and field technicians are employed by Tshukudu in Ghanzi, where the Company’s operations are based.