# EQN - Equinox Minerals



## GreatPig (27 January 2006)

Breaking into blue sky territory and pushing up nicely 

Bought about 3 weeks ago for $1.01, currently $1.40 as I type.

Just wish I'd bought more...

Cheers,
GP


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## BSD (15 March 2006)

180,000 tonnes of Copper per annum from 2008

Biggest copper mine in Africa 

That is $900,000,000 in cash at $2.20 copper

Full DFS completed, mine life >20 years

EPC contracts coming - offtake soon and construction starting 2H 2006

$500m Market Cap, heading for ASX200

Bankers using $1.10 copper in models versus $2.20+ spot

80% insto held and 10% insiders

Tuck these in the draw and forget the short term volatility from the 10% retail float - they are going up. 

Best copper play in market

Lumwana is worth $1.80+ on conservative numbers ($1.80Cu 08, $1.40 09 and $1.10 Cu long term). See Sprott $2.20CAD and RBC $1.80CAD vals)

Add Uranium (proven reserves breaking even at $11 pound vs current $30+) and some of the best ground in copper belt and EQN has upside to burn. 


Try and find another copper play with completed DFS and >150,000 tonnes pa production


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## Sodapop (15 March 2006)

Yep - She's a good one... I remember grabbing this when it was a $10m Cap. company at ~4.5c back in early 2003... Looked like a goody back then - but just going from strength to strength... Wish i still held from those levels (even considering the 4:1 consol.)... Definitely one of the emerging world class juniors on the ASX - if not the premier one...

I don't hold anymore but still consider EQN (or EQR as it was back in the day) as one of my babies...


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## BSD (22 March 2006)

Touched all time high today. 

Good volume on TSX of 2.5m and multiple 200K crossings at $1.40CAD. 

Apart from the copper play, many punters are missing the 20 million pounds (9000tonnes) of defined Uranium in the Lumwana project. 

A bit less than half of Paladin's Langer Heinrich Project

The original feasibility study assumed 1.5mlbs a year of U costing $11lb. With spot U around $40lb you can see the further upside to the Lumwana story. 

Not many Australian U companies have this amount of proven U - let alone being legally allowed to produce now!

400 million pounds (188,000tonnes) of copper per annum (double Oxiana's Prominent Hill) and 1.5 million pounds of uranium production per annum with long mine life 17+. 

At spot prices you have almost a billion USD in revenue per annum. 

Market cap still below $600mAUD

Sprott of Canada calculates the U can be processed with a $100m plant and gets a $0.48CAD ($0.57AUD) NPV at a 15% discount. 

Sprott have a company NPV per share $2.50CAD ($3.00AUD) 

Obviously I am long to the gills (!) but am wondering why EQN is still not on the radar in retail Australia.


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## GreatPig (23 March 2006)

Resounding breakout today on good volume.

GP


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## BSD (13 April 2006)

The end of a large sell-order being worked through RBC will see EQN rocket again

6.2 million traded on TSX last night - the seller is running out of steam

With Copper at $6100 tn, Costs at $1800 tn and production at 180,000 tn/pa, around $750,000,000 USD per annum of cash is being generated. 

They will pay off their debts in 9 months!

Mine life exceeds 17 years - starts 2008

No more equity needed

Market cap still only ~$500mUSD

More copper than Prominent Hil


Get your space suit out


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## BSD (18 April 2006)

$2.28 close today - up 20%

Plenty more upside to come. 

Canadian brokers, Dundee Securities, increasing 12-month target to $3.70CAD ($4.40AUD). 

Currently trading at 1.40 times FY08 forecast earnings

Dunno what the graph says, but the fundamentals say "get-set".


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## ctp6360 (3 May 2006)

I bought in today at $2.15, I hope today's rise is a continuation of the trend.


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## BSD (10 May 2006)

8 million traded on TSX last night - stock up 7%

Stock thin on the ground on ASX and Huntley re-iterates BUY call. 

Copper at $3.60 

Should trade through $2.50 today


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## RichKid (19 May 2006)

Nice trend, why didn't I see this before! If only chicken had been on this we would all have known!! How'd you miss this one my feathered friend!?? Only heard of it today thanks to Mark. 

Nice trend and volume confirmation as well, right at the end we've seen higher prices and higher volume but that's ended dramatically and we're seeing a strong sell off on increasing volume. Not one to go long on atm imho. Another one of my elementary EW 'efforts', comments welcome, saw GP's early EW work as well, I think this fits in with it, easy one imo, nice even proportions.

Am I to understand EQN isn't producing anything yet? Fits in with the chart if that's the case. What really piqued my interest was the international broker coverage.


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## markrmau (20 May 2006)

Looks like bloodbath on Monday.

I understand production should be coming online 4q07.


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## $unny (20 May 2006)

what happened?


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## markrmau (20 May 2006)

Copper down heavily (eqn has very high leverage to copper). Remember this is about fear and greed, not rationality. So even if you said eqn is will worth $3ps based on long term Cu forecasts, it will still tank.


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## BSD (20 May 2006)

markrmau said:
			
		

> Copper down heavily (eqn has very high leverage to copper). Remember this is about fear and greed, not rationality. So even if you said eqn is will worth $3ps based on long term Cu forecasts, it will still tank.




Very true. 

These situations are excellent opportunities for investors with a timeframe of investment suited to waiting for production.

EQN is very easy to value and is a good example of the effect the current shakeout in metals is having on stocks. Shares are now back to where they were when copper was at $2.80.

Using a 2008 production forecast with copper at $2.20 falling to $1.20 long term, USDAUD at $0.80 and discount rate of 12% - gets me an NPV of $3.60 AUD.

27 month copper on the LME can still be sold at $2.80. EQN will soon have to lock-in a portion of the early production at a price like this to finalise the debt package. 

Canadian trade rules this stock. We have traded EQN at a premium three sessions this week on the ASX. There has obviously been a big seller on the TSX who has run out last night. 

EQN closed up 9.8% at $1.78 CAD ($2.10AUD) on the TSX last night after bottoming at $1.53 CAD ($1.80 AUD).

Note that EQN is very tightly held and is very prone to excessive volatility. 

Acorn Capital have tucked away another 11m shares to go to 22m in total. They have been around since the stock was less than $0.40 and know the company very well.


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## markrmau (20 May 2006)

You're right - up big time on the tsx. Very interesting.


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## RichKid (22 May 2006)

Looking at my chart again (post #10), I might have got the March 2006 minor wave IV end wrong, could be the next minor swing low. Happy with the current count though, not much turns on it atm imo, mainly an issue for stop placement once we look at fib levels and the end of this retracement.


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## MalteseBull (30 June 2006)

EQN has a positive announcment today and will do well long term. It shows a similar trend to ABY as well (graph the two together).

Equinox Increases Lumwana Mine Life to 37 Years
Announces Fixed-Price EPC Contract with Ausenco-Bateman JV
Releases Updated Capital Costs and Mandates additional Debt Capacity to include Mining Fleet


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## 3 veiws of a secret (14 July 2006)

I can't but help to think EQN is the mustard for today......anybody going to talk me out of buying this one .....@ 1.40 ???? any tragic techies out there?


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## Sean K (14 July 2006)

Doesn't look hot to me.

Just broken 200d ma and support around the $1.50 mark heading south.

Might find help around $1.30-1.35.


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## 56gsa (26 July 2006)

Has twice bounced off support @ 1.40, now heading for 1.65 level?  If it breaks thru that, could head for 1.80-1.92 range.  

Cu is now at same levels as early May when EQN was over $2, although Cu coming off recent top.

Interest today likely to be because of positive U story...


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## edogg75 (26 July 2006)

If you check the last ann you will find that that cap raising is planned. This is what has been keeping the price down IMO.


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## 56gsa (18 August 2006)

Again didn't break thru the 1.65 resistance but could be like earlier this year when it bounced off this a few times before finally breaking thru.  Technical report out on 17th - considerable detail on program


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## stink (22 August 2006)

I'm seeing a decent entry right now on this? Any thoughts

Cheers Stink


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## Sean K (22 August 2006)

Stink, Looks like it's made a good base around $1.50. I haven't looked at the details about their projects or it's primary one, the Lumwana Copper Project in Zambia, but they say it's coming into production next year?? Good to be coming on line shortly with prices how they are. I assume it's unhedged as well?? How much copper is there?


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## bvbfan (22 August 2006)

Have a look at the EQN site

36year mine life, I think thats enough

I hold


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## Halba (22 August 2006)

construction has begun on this project

remember they have some of the best ground in the lumwana copper belt (full of copper) so who knows they may be able to bring 1,2 or even 3 lumwana's into production later on?


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## 56gsa (22 August 2006)

Based on reserves they are planning 150ktpa copper for 15 years.  recent drilling results in surrounding land have been positive.  this ore also has estimated 9500 tonnes of uranium 

chart looks good IMO, failed to touch 1.40 support and now testing 1.70 resistance - if it can break that then 1.90 / 2.05 are next levels.  turnaround was timed around BHP chile copper mine closing so resolution of that could see it turn down in ST.  LT looks good IMO if all goes well with construction, bringing production online, country situation etc

do your own research...


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## 56gsa (24 August 2006)

Strong opening this morning, if it can maintain then next stop could be $1.90


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## Sean K (24 August 2006)

Next stop $2.00 I reckon. Might have to get me some.


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## 3 veiws of a secret (24 August 2006)

kennas said:
			
		

> Doesn't look hot to me.
> 
> Just broken 200d ma and support around the $1.50 mark heading south.
> 
> Might find help around $1.30-1.35.




Well Kennas you was kind enough to reply to my querry ,I bet you wished you'd jumped on board when it languishing at $1.38>$1.40 some weeks back.....I'm purring like a cat today whilst other stocks are metered deep RED!


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## Sean K (24 August 2006)

3 veiws of a secret said:
			
		

> Well Kennas you was kind enough to reply to my querry ,I bet you wished you'd jumped on board when it languishing at $1.38>$1.40 some weeks back.....I'm purring like a cat today whilst other stocks are metered deep RED!




Yep, but it did get support at $1.35ish didn't it.


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## 3 veiws of a secret (24 August 2006)

spot on  "Guru" Kennas! alas I bunji jumped onto the gravy train at $1.38............


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## Sean K (25 August 2006)

Pushed well through $1.80. 

Where's that next resistance? $1.90. 

Must say, this has been off my radar, but looking at the Lumwana Project, it looks pretty exciting. Mine life of 37 years, highly prospective region, possibiity for even further upgrades.....


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## Sean K (25 August 2006)

Since the Cdn$105mil at Cdn$1.40 a share deal was ann just a few minutes ago the stock has lost a few %. Musn't be that great. Your thoughts EQN holders?


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## Rafa (25 August 2006)

Thats 1.65 - 1.66 AUD...

Thats a reasonable price for capital raising in anyones books...


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## 56gsa (29 August 2006)

Will this capital raising dilute the share capital and will we see fall in SP?


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## Sean K (30 August 2006)

EQN looks to be heading back to now support at $1.70ish, or perhaps the placement price which equated to about $1.65?

Looks to be generally on the way up, even though it found resistance at $1.87, which was expected as seen on the chart. 

Needs a little more considation, before testing it again. 

I'm on this now.


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## 56gsa (30 August 2006)

kennas 
think you're right - we'll see it hover around 1.65 support until offer closes on 15 sept - presume thats when placement is made and shares go ex-placement?


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## stink (30 August 2006)

I have been on this since a few posts ago, but yeah i am staying on.


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## Sean K (1 September 2006)

This has behaved well over the past week, after breaking up, but reduced  vol really. 

Should find some hard going around this point. 

I thought the capital raising at effectively $1.65 would dampen enthusiasm for this, but obviously not. There's obviously a bit of support for this. 

I got on at $1.82 with a target of $2.00. Might be there shortly.


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## 56gsa (4 September 2006)

good call kennas - went past your target this morning!  could find support at 2.10


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## 56gsa (9 September 2006)

that shld have been resistance at 2.10 - which it did and now looking for support at 1.90-1.95 area - still not sure of placements impact at 1.60 so could drift lower.

still long term hold imo - especially when you have a US$1.1 billion to your project - article below
______________________________________________
Lumwana's lucrative by-product 

Ben Sharples
Friday, 8 September 2006

WITH a uranium spot price in excess of $US50 per pound, Equinox Minerals is sitting on 22 million pounds of a potentially lucrative by-product at its Lumwana copper project in Zambia.

Addressing delegates at the Africa Downunder Conference in Perth yesterday, Equinox president and chief executive Craig Williams stressed the main focus would be to bring the copper project online, with the uranium an "add-on to the development plan".

"In the current high price market for uranium, we are re-evaluating the potential for a significant uranium by-product from the mine," he said.

"The uranium is not part of our current development plan but may now be an add-on to this plan, as Lumwana's bankable feasibility study was based around a uranium price of $US11/lb compared to the current $US50/lb."

Williams said the uranium occurred as discrete high-grade veins within the copper pits and the company would likely selectively mine and stockpile the uranium ore.

Equinox, which is dual-listed on the Toronto and Australian bourses, is looking to produce about 150,000 tonnes of copper annually from the $US762 million ($A1 billion) Lumwana project when it comes online in 2008.

The project has a mine life of 37 years.


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## BSD (2 October 2006)

After a lot of confusion and concern - the Zambian elections appear to have gone the right way for EQN

Financing and hedging will be announced in this quarter

Take-off time


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## Sean K (2 October 2006)

I sold out of this when the head and shoulders pattern was confirmed. At a sight loss   

Maybe time to get back on. Looks like support at $1.50. Now, more resistance at $1.90 though.


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## BSD (2 October 2006)

The ASX charts dont mean much on this one. Volume is 10 times higher on TSX (hence the gaps). I certainly dont fear too much resistance from a chart when financing is announced and they build the mine with output of 180,000 tonnes of Cu per annum.

EQN has fallen 40c because of the election concerns and copper is still $3.40


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## BSD (20 October 2006)

Drilling results from new prospect looking good. 


Equinox Minerals Limited (TSX:EQN)(ASX:EQN) (the "Corporation") is 
pleased to announce drill results for its recently completed drill 
program at the Ndola West prospect including an intercept of *64m @ 2.33% Copper, including 38m @ 3.5% Copper. * 

Eight 4" Reverse Circulation ("RC") holes were drilled for a total of 
715m on three lines covering a strike length of 600m along the NE limb 
of the Ndola West synform with the best intersection being from hole number KIT0003 generating 64m (depth 32m to 96m) grading 2.33% copper including 38m (depth 58m to 96m) grading 3.5% copper.

Ndola West has generated significant previous intersections (including 9.0m of 3.8% Copper) and interpretation of the geochemical and geophysical data by the Corporation suggests that *copper mineralization could extend along a strike length of up to 4.5km*

Another elephant in the making? 

How many of these are around on the massive Zambian copper belt land holding?

Very early days yet - but a tidy addition to the world-class Lumwana project could be on its way!


Financing for EQN's Lumwana project has the majority of bankers signed off.

Partial hedging of the 2008 production of 396,000,000 pounds will be announced in coming months. Could be done at above $3.00lb USD. 

37 year mine life

Only A$900m cap

Do the math...


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## 56gsa (24 October 2006)

BSD - but happy to see its progress today..

I haven't had time to read announcements for EQN so wondering if you know if they have made a decision on whether they will be mining the uranium or not?  seem to remember seeing they were to decide on this at some stage?

thnks


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## BSD (24 October 2006)

Progress on 23million shares traded last night on TSX. 

Broker upgrades have emerged from most houses over the last week and the placement overhang appears to be gone. 


EQN has defined a 22,000,000 lb U resource in the higher grade Malundwe pit. Being in discrete lenses the U ore can be set-aside for future processing. 

At current prices the U is worth over a billion US dollars in ground and is not included in most valuations from brokers. 

Off the top of my head, Huntley has $0.10 and Sprott CAD$0.40 (A$0.60) as the value for the U in their valuation models. 

The original bankable feasibility had the U breaking even at $11lb - spot is now well in excess of $50lb. A plant was designed and recoveries of 97% were achieved without contamination of the Cu. 

Personally, I think that once the copper project is up and running and the US$500m of debt is paid down in the first 12-18 months from free cashflow, EQN will be able to finance the addition of a U circuit to produce yellowcake and also look towards their own roast-leach-electrowin facility to produce Cu cathode onsite - reducing costs substantially. 

They may also bring a partner on board for the U. 


Remember also that current drilling underway on the Kanga anomaly is along strike from the Malundwe pit that hosts the Uranium and higher grade copper reserves in the Lumwana project - all at shallow depth. 

Results from Kanga should be out in the next 4-6 weeks. 

They also have multiple nearby prospective U targets and more than 10 on their overall ground package. 


To date, EQN has been more concerned with getting financing of the project completed based on the Cu in Lumwana alone. 

With 7.8 BILLION lbs of Cu in the ground (measured, indicated and inferred)- why not? 

At $3.50USD/lb that is currently worth $27billion USD!!! (a stupid measure but great for effect!)

But with $200m in the bank - a bit of drilling will never be out of the question for a team of geos like those working with EQN. 

CEO Craig Williams was instrumental in the discovery and development of Ernest Henry.


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## mmmmining (25 October 2006)

BSD said:
			
		

> Progress on 23million shares traded last night on TSX.
> 
> Broker upgrades have emerged from most houses over the last week and the placement overhang appears to be gone.
> 
> ...




 I Like EQN. Dirty Cheap compare with Ivanhoe, etc., plus uranium resources. I almost get out of it before the election. I hold on it after I made a bit political research. After this risk is gone, there is no reason that it will go much higher.


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## 56gsa (13 November 2006)

anyway know why EQN has dropped 10% today? - no announcements...


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## bvbfan (13 November 2006)

Checked the copper price?

Cu -7% on my source


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## BSD (3 December 2006)

*Equinox Signs US$583.8 Million Bank Debt Facility for the Construction and Development of Lumwana * 

http://www.ccnmatthews.com/news/rel...earchText=false&showText=all&actionFor=624987

Another tick in the box for EQN on the way to producing in 2008

Offtake/smelting agreements and hedging to come next year while EQN spends the $200m they already have in the bank.

Interesting that banks are happy to lend on the basis of 30% hedging. A bullish sign for the medium to long term view on the copper price.

Touched $2.20CAD overnight on TSX

The broker valuations will push even higher now with discount rates coming down with greater certainty. 

EQN will be Australia's largest listed copper pureplay at production.


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## Sean K (3 December 2006)

BSD said:
			
		

> EQN will be Australia's largest listed copper pureplay at production.



Hhhmmm, if Xstrata don't pick it off first. They're on the look out.


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## BSD (4 December 2006)

kennas said:
			
		

> Hhhmmm, if Xstrata don't pick it off first. They're on the look out.




Very interesting you mention Xstrata in particular. Very interesting...

The biggest copper mine in Africa in one of the most politically reasonable countries must have some appeal to the majors. I note a number of players signalling a growing interest in Africa and Central Asia.

Any deal would have to be friendly and would need to be pitched at $4.00+. 

I would not be happy selling below $5.00

This company has drilling targets and a land position to bring numerous copper mines into production over the next 10-20 years and let us not forget about all of that wonderful Uranium.


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## BSD (6 December 2006)

Broker upgrades in Canada are out:

Sprott Securities: $3.65CAD price target

GMP: $2.75CAD price target

Raymond James: $3.80CAD price target

"We believe that Lumwana is the most attractive near-term copper development project not yet controlled by a major mining company"

_______________________________________

The OmegaCorp takeover would value EQN's U308 (60% more) at $0.60 per share. 

The current share price has $0 valuation for the U308 - let alone the multiple drilling targets on their land position


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## mmmmining (6 December 2006)

BSD said:
			
		

> Broker upgrades in Canada are out:
> 
> Sprott Securities: $3.65CAD price target
> 
> ...




Thanks for the update. I believe both EQN and CMR are excellent contenders to be the next producer after PDN on ASX. A near producer could be valued much higher in terms of EV/lb.


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## speves (28 January 2007)

There hasn't been much talk on ASF about EQN this year as it sneaks back up to the $2.00 mark.  I think the SP lost a bit too much when the price of Copper fell and it's looking like a good buy at the moment..... just my 2twocents worth.


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## speves (1 February 2007)

Happy to be challenged here as I am not even close to being an expert.

Check out the MACD and MDI on this chart. The Blue line rises above the Red and crosses the zero line (or will do shortly)...... indicative of a strong bullish signal?  A similar pattern occured back in mid August and again in October .......all preceeded by stronger volumes.

Ignor the black line...thats unintentional


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## mmmmining (1 February 2007)

I am a patient holder of this one because of the vast amount of copper resources, and exploration upside. Plus the uranium as a sidekick. In short term, the share price seems to be up and down with copper price. I believe there is a opportunity it should be re-rated for near-term producer.

I still believe it is a good takeover target. I can wait. Let's see...


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## petervan (1 February 2007)

the canadian brokers wanted the uranium aspect talked up by the directors but they haved raised enough capital and seemed to be going the silent achiever path.winning international mining awards and having every drill hole hitting copper including 3 with uranium.you know with such a large deposit they will raise yearly output up to 250000 tonnes per year.this is a lont term elephant.


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## 56gsa (2 February 2007)

agree this is LT hold based solely on the huge copper deposit - but just think what would happen to SP if they announced they were mining the uranium (20m lbs identified atm)

if they had no copper - just U - a $1 SP would give them $22 EV/lb - quite low for a near producer.  at present it appears U is hardly being rated as overall Au equiv EV is a low $58

now all this is based on ASX mkt cap - should you also include the TX mkt cap as well??

anyway - announcement that they were going to mine uranium would still shoot up sp 50-100 cents i believe...


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## BSD (2 February 2007)

It would appear EQN management would prefer to understand the economics of the U before entering any JV or similar. This is a good thing. 

They would only need to update the U pricing and capital cost assumptions in the original BFS to get an NPV. 

Setting aside trying to cashi-in on the current hype around U - when they are producing over 330 million pounds of copper at $0.70lb cash cost annually the massive free cash flow in excess of US$500m will allow them to finance a U plant pretty quickly. 

When you contemplate that EQN (at current prices) could soon be generating somewhere around US$500m in free cash from copper and US$100m from uranium (2m lb pa) the current market cap is very low. 


Construction is on track, financing is complete, offtake and hedging is coming very soon. Only 18 months away now from massive cashflow

There is a large seller sitting on the stock at the moment who is executing through RBC. 

Once they finish - EQN is going up.


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## petervan (4 February 2007)

maybe xstata wont be the ones to make a play for this with the chinese showing a keen interest in the area. chinese president visiting the mines township. dont think they are there to get ideas for their own mines.


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## Halba (4 February 2007)

lol yeh. african metal assets are prime for china

don't forget that EQN will produce a lot of cobalt as well....copper belt has a lot of this cobalt stuff which is also reqd by china and in short supply

the 70c a pound figure doesn't include uranium and cobalt credits. with u price the way it is they would get another 100-150mil from u the U. thats about 35c/lb. So 70c-35c = 35c/lb costs. Also cobalt, maybe another 1000t-2000t recoverable? Thats about $40-50m from the cobalt or another 12 cents per pound. This means EQN's cash costs can go as low as 25c/lb perhaps.


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## BSD (4 February 2007)

The Chinese are building a ~US$200m smelter on the Copperbelt to complete with the Indians. 

Verdanta (or related company) is building a new smelter set for completion next year (great timing) which will have excess capacity. 

This capacity coming on line is the reason EQN are in no rush to complete the offtake agreements.  With the extra competition, the TC/RCs could be superior to those assumed in the BFS, in addition to lower transport cost assumptions. 

The cobalt was in the original BFS requiring a US$400m EW-Roast facility that has been put on hold. 

Probably cost US$700m now; but US$500m per annum of cash is going to open up some serious options for future production plans.

I don't know if the Chinese will take-over EQN, but there could be an equity participation by a long term smelter partner.


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## Halba (4 February 2007)

yep lots of smelters popping up, reason why they want to wait to commit to offtake. Can eek out another 10c per pound there.  no rush as risk reward better for waiting. construction can proceed regardless.


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## BSD (16 February 2007)

2007-02-15 10:38 ET - News Release

EQUINOX SIGNS FIRST LUMWANA CONCENTRATE OFF-TAKE IN 5-YEAR AGREEMENT WITH NEW CHAMBISHI COPPER SMELTER

Equinox Minerals Ltd.'s wholly owned subsidiary Lumwana Mining Co. Ltd. and Chambishi Copper Smelter Ltd., a joint venture between China Nonferrous Metal Mining (Group) Co. Ltd. (CNMC) and Yunnan Copper Industry (Group) Co. Ltd. (YNCIG), have signed a concentrate sale and purchase agreement for about 55 per cent of the copper concentrates to be produced by the Lumwana mine during the initial five years of production.

Lumwana, owned 100 per cent by Equinox, is located in the North Western province of the Republic of Zambia. The Lumwana mine will produce an average of 169,000 tonnes of copper metal per year contained in concentrates for the first six years of its 37-year mine life and construction is on schedule for commissioning in second quarter 2008.
___________________________________________________

http://new.stockwatch.com/swnet/new...x?bid=B-649963-C:EQN&symbol=EQN&news_region=C


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## petervan (16 February 2007)

should be up 20% today after going as high as 2.40 last night in canada. still got drilling results coming out in next months.


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## Halba (16 February 2007)

offtake signed with chinese

this is good news for the stock

wet season is now basically over so drilling can commence


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## petervan (17 February 2007)

they seemed to have great negotiating skills this management team.now can look at getting 22million pounds of uranium processed.definitly the big factor for raising another large chunk of cash.


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## Halba (17 February 2007)

bit unhappy about constant dilution

the share capital was about 350mil shares when i first got on board, now its 500m shares


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## petervan (17 February 2007)

agree halba short term but long term if they can start producing copper and uranium wheretalking 600-700million per year cash. thats not a bad warchest for expansion or share buyback.


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## Halba (17 February 2007)

yes its understandable. they have to get the money from somewhere, and its a very large mine. if it was in oz it will cost 50% more.

Debt is also costlier than equity, every1 knows that


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## BSD (17 February 2007)

A bit dissapointed management didn't put the stock in suspense and announce the completion of the placement and the completion of offtake at the same time.

An ASX allocation to the placement would have been even better.

Investors who bought stock on ASX yesterday are not going to be happy in the short term with the 5% fall and it comes across as a bit too sharp - even though the management of EQN are not spivvy in the slighest. 

Anyway, they probably need the extra dough to build the village, pay for Cu puts for hedging (required for debt drawdown) and finance a feasibility study for the 20 million lb of uranium. All things that will grow the value of the company. 

The greenshoe in the placement will assist in reduding the effect of flippers. 

The downgrade in my val from the extra issuance is in the vicinity of 10%. 

Leverage to copper price is far greater than this - the upside to my val is still massive. 

Currently 15mth copper can be sold at $2.55 - $1.80 above cash costs on 300,000,000 lbs of year one production. 

As another positive, this amount of raising is going to give make excellent exploration budget available to find another elephant while we build Lumwana


----------



## speves (26 February 2007)

EQN will be testing new highs this week.  This time on good volumes and copper prices........and it finished on a high today.  One to watch this week.  I guess the question is...will it break the 2.45 or will the profit takers move in?


----------



## petervan (26 February 2007)

I get the feeling all those Canadian brokers involved with this company are going to play a uranium trump card shortly to give this share a big boost.They have put alot of investment dollars into this one and a big ramp up will make them feel a bit more secure.Could be completley wrong but it is contolled 100% from these canuck brokerages.


----------



## Halba (26 February 2007)

Assuming copper @ $1.50, EQN price will give a 100% return till commencement of first production.


----------



## 56gsa (26 February 2007)

petervan said:
			
		

> I get the feeling all those Canadian brokers involved with this company are going to play a uranium trump card shortly to give this share a big boost.



PeterV - any guesses on what the U announcement would do to the shareprice - I was thinking 70c-$1 to bring EVs in line with near producer... but then with listing on TX which seems to rate U stocks higher it could be more?


----------



## petervan (27 February 2007)

56gsa- 1 would guess up to a dollar but in the current climate and with on going drilling a few good hits could create a large spike.Believe they have to hedge up to 80% of there copper in next 5 years as part of the financing deal. Should have an annoucement about the other 25% of that shortly as 55% has already been arranged.Personally am very bullish on this share .


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## mmmmining (3 March 2007)

A report about how much it worth as near copper producer:

http://www.mineweb.net/whats_new/648307.htm

Also, it could be rerated as near uranium producer. Don't know what is the plan.


----------



## Halba (3 March 2007)

Hi mmmining. 


Doesn't seem to be getting hit too hard on the TSX. Bear in mind this will be the largest individual mine in africa so its got strategic value. Cobalt, Uranium prices are and will continue to be at high levels. Zambia is also a good country to invest. 

Disclosure: have a small position in this one for long term.

Additionally with the Kanga open pit to the south, they can increase  production above the base case provided.


----------



## mmmmining (7 March 2007)

EQN has got $232.2m from a share placement.

One line in the ann. is, quote:

"The Company will also use funds to undertake a feasibility study on the treatment of the Lumwana uranium ore, the funding of ongoing exploration for both copper and uranium in Zambia..."

To revisit: EQN has 19.4mlb U3O8 indicated resources, and further 2.4mlb inferred.

Like BHP, uranium will be the by-product..

I believe either EQN or CMR, both are classified as base metal producers are the next uranium producers for companies on ASX.


----------



## Halba (7 March 2007)

Agree.

Its going to be a tight call between EQN, CMR or AGS which have jorc.


----------



## petervan (23 March 2007)

Ausenco gets the job to do the groundwork for uranium production.they are doing the prep work for Luwanna and seem to have a good relationship.By q1 2008 they have everything in place to decide what to do with the uranium.Can see a few million more oz with all the drilling going on.Might be in production by 2009.


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## 56gsa (23 March 2007)

mmmmining said:
			
		

> One line in the ann. is, quote:
> 
> "The Company will also use funds to undertake a feasibility study on the treatment of the Lumwana uranium ore, the funding of ongoing exploration for both copper and uranium in Zambia..."
> 
> ...



well spotted mmmining - confirmed with announcement today - now 21m lbs means $2bn resource which i don't believe has been factored into share price - once people realise this and start talking EQN as a uranium stock this re-rate
ann does mention UFS will confirm if uranium extraction is economically viable - presume this is to do the chemical extraction process which i obviously have no idea about - any metallurgists out there that can describe this?  how often do you have a 21m+ lb  resource @ US$100 / lb thats not economically viable?


----------



## mmmmining (23 March 2007)

I always thought EQN is an excellent takeover target. But I might be wrong because CEO has a huge "Ego", and want to see the finish line. Nothing wrong, as we are proud Aussies, as long as he is capable of doing his job, so far so excellent.

The huge re-rating will be around the corner for Copper/uranium producer if the budget is under control.

You can email them to ask for the latest broker reports. They will MAIL it to you no matter where you are, every time.


----------



## petervan (23 March 2007)

Correct me if i,m wrong but i believe when they set up in Canada, they organised the shareholdings so you could not own more than 20%.A newscorp scenario like a poison pill.That might be ego in play.


----------



## Halba (23 March 2007)

hmm 20 million pound resource...lets not get excited here there are plenty of specialist uranium companies with a bigger resource and better grade


----------



## deftfear (24 March 2007)

Sure there are other specialist companies with bigger resources, but do any of them have an undeveloped resource the size of Lumwana? Apparently its the largest undeveloped copper resource in construction at the moment, and they are just looking at the uranium as a by product. The uranium has been so insignificant to them in the scheme of things. 

Any of those specialist companies would be doing all they can to get a jorc, bfs etc for a resource that size, but this company has such a great project that they just put the uranium on the back burner while they focus on their copper project. Doesn't that say something about the company if they just let the uranium sit there and go unnoticed for so long?

I do not hold, sold out of this in the crash


----------



## kerosam (29 March 2007)

hi fellows,

went on to the asx website to find a web link to EQN... do they actually have a website???

just want to find out what this company does or specialises... all it says from the asx website is 'mineral exploration & production'.


----------



## nomore4s (29 March 2007)

Try this link

www.equinoxminerals.com


----------



## kerosam (29 March 2007)

thanks nomore4s!!

so their main resource is copper... and maybe uranium, with the recent feasiblity studies.

did i miss anything?


----------



## 56gsa (4 April 2007)

this is now testing tops of 18month holding pattern and 10-year highs - presumably on the back of stronger copper but also perhaps peoples also realising U potential, and the fact it may be producing U by 2008

the previous BFS they did a few years ago found the U was uneconomic at the then current price of $11/lb!! will probably be $111/lb by the time they finish this one 

enjoy


----------



## mmmmining (4 April 2007)

With U or without U, it is a huge project, and can make a lot of money. A lot of brokers call it CAN$4+ stocks even copper price at $2/lb. It will be the largest copper mine in Africa, 373mlbs/yr copper at cash cost US$0.8 with 37 years life.

According to RCR, the uranium project has NPV/share at $0.77.


----------



## BSD (4 May 2007)

New highs on both ASX/TSX this week with massive volume on TSX and buyers happy to pay a premium on ASX due to lack of stock available on sell side

Canadian brokers continue to upgrade EQN targets. 

GMP going from CAD$2.75 to CAD$3.25 (A$3.50) target yesterday. 

EQN remains cheap on all metrics


----------



## danc (7 May 2007)

Another strong day day week mth look sensational. weekly really tells story with breaking of triangle just all green candles OBV on all three time frames very hi.looks the goods to me.


----------



## 56gsa (10 May 2007)

looking very interesting now since announcement of mining couple of weeks ago - has had a bit of a breather, not pushing thru $3 mark, but now on the rise again

fib works very well from the 2.09 support level - currently testing the 61.8% level - there was a peak in share price back in late 1990s around the 3.05-3.15 mark - not sure how much influence this will have now?  Based on fib the target would be around the $3,50 mark which equates nicely with GMP's target as mentioned above


----------



## danc (10 May 2007)

Why would you sell at 3.50?? with what it has going on looks set to run a lot higher,potential to be a  huge copper producer in the not too distant future, up grade of ux resource, to produce ux 08??? surely a lot higher almost at 3.5 now.Looking at the mth ly chart since the all time low there have been 13 up mths and 10 wishy washy down mths and the positive vol certainly favours the up side i am going to back it to go a lot higher than 3.50 all things being equal.


----------



## 56gsa (10 May 2007)

danc said:


> Why would you sell at 3.50?? with what it has going on looks set to run a lot higher,potential to be a  huge copper producer in the not too distant future, up grade of ux resource, to produce ux 08??? surely a lot higher almost at 3.5 now.Looking at the mth ly chart since the all time low there have been 13 up mths and 10 wishy washy down mths and the positive vol certainly favours the up side i am going to back it to go a lot higher than 3.50 all things being equal.




Agree danc - I'm in this one for the long haul - but if it looks like clearing $3 might be worth a shorter term trade?  What do you think of the previous spike back in the late 1990s - does this still have an impact on resistance levels today - i imagine anyone that bought at those levels previously have long since sold out?  in which case clearing $3 may see a clear run to $3.50 and in essence this is blue sky for EQN??

all being said copper is at its high again and looks to have got nervous approaching the $3.80 mark so of course EQN will retreat if we see a fall in copper - i do think tho this is currently being re-rated so we might see support levels around 2.40 - 2.65?


----------



## 56gsa (23 May 2007)

10% rise today sees it sitting pretty at the $3.50 mark.. with large sale at end of the day.  This against the recent falls in copper suggests a possible re-rating based on further canadian interest ie recent broker recommendation? delayed response to uranium feasability study news?  or is it too out of the question to be talking possible takeover?


----------



## resourceboom (23 May 2007)

Hi folks.,
I do not hold any EQN, but have been watching it for a while.  I think I have probably missed out on the easy upside.  But there is hardly any sellers in the queue, very similar to AED, which has been on a similar run recently.

Anyhow, I see the upside of this stock in the massive copper play, and obviously having uranium is a big plus, but was just thinking that it probably wouldn't play a big role in the SP as it seems small for a company with such a large market cap now.  What are your thoughts? Apologies in advance as I haven't done much research on the U.


----------



## petervan (1 June 2007)

http://c.moreover.com/click/here.pl?x958198911&f=1774 Interesting article for all followers of this stock.


----------



## Buffettology (3 June 2007)

petervan said:


> http://c.moreover.com/click/here.pl?x958198911&f=1774 Interesting article for all followers of this stock.




I usually stear well clear of the resources sector, but this is one of the very few which has grabbed my interest.  I invested a small amount in EQN a couple of days ago.


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## petervan (12 June 2007)

Looks like a news release after Canadians market had closed .More strong copper and uranium results from Kanga. This elephant continues to grow


----------



## 56gsa (4 July 2007)

Is this a H&S forming??  red candle today not shown (high 4.05, low & close 3.93) - neckline @ 3.53 - problem is high volume recently doesn't comply with decreasing volume requirement for H&S ...


----------



## 56gsa (9 July 2007)

Something's up??

Now made almost 100% gain on late April levels....   is it getting a bit beyond itself?


----------



## Buffettology (9 July 2007)

56gsa said:


> Something's up??
> 
> Now made almost 100% gain on late April levels....   is it getting a bit beyond itself?




Expected EPS by 2009 is 120cps, not to mention, the Zambian copper belt looks litered with Uranium and Copper.  If these targets are acheived by as little as 2 years away (not to mention, far more future growth potential), the current price is definately not ahead of itself.  

A bit of a risk, but a high reward situation.


----------



## 56gsa (19 July 2007)

This ann on TSX tonight.. altho even tho copper is up slightly TSX was not impressed and EQN down 8cents.  Guess this may have already been factored in - doesn't mention price specifically but can you assume they have locked in the price for forward sales?  If copper keeps rising this is not a good thing?

Coming off its high on ASX as well last few days - could find support in the 420s - fill the gap, bounce off 21MA...




> Equinox Signs 5-Year Agreements With Mopani and Glencore for Balance of Lumwana Concentrate
> 09:31 EDT Wednesday, July 18, 2007
> 
> TORONTO, ONTARIO--(CCNMatthews - July 18, 2007) -
> ...


----------



## 56gsa (25 July 2007)

Again on the TSX what appears to be a positive ann re U intercepts, coppers up for the night... and yet TSX has EQN 2% down... altho overall market is down 1.6%



> Equinox Minerals Limited: Lumwana Uranium Feasibility Study at Malundwe Delivers High Grade Uranium Intercepts
> 10:30 EDT Tuesday, July 24, 2007
> 
> TORONTO, ONTARIO--(CCNMatthews - July 24, 2007) -
> ...


----------



## petervan (25 July 2007)

GO FIGURE. Down 5% on positive uranium news, what,s going on in Canada. The only thing i can think is it lessens the chance of a takeover, but 5%Still scratching my head


----------



## Buffettology (25 July 2007)

petervan said:


> GO FIGURE. Down 5% on positive uranium news, what,s going on in Canada. The only thing i can think is it lessens the chance of a takeover, but 5%Still scratching my head




I think this is the classic scenario of fear and greed at the moment.  With high risk, HUGE reward and growth potential, the price is just all over the place.  Its IMPOSSIBLE to guage just how much this share is worth, but I would not be surprised to see this share hit $10 in the next few years, and hence, I am holding this one for at the very least another 12 months (all things going ok).


----------



## 56gsa (4 September 2007)

news on FN arena - EFIC part of group providing political risk insurance....
http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=C96D8B7D-17A4-1130-F5DF13A8BD804E9E

chart RSI suggests EQN could be ready to run again but all depends on broader market i guess...


----------



## petervan (7 September 2007)

http://c.moreover.com/click/here.pl?x1089525671&f=1774
Great little article on takeover targets that could be coming up sooner rather than later.Have been patient and happy with this stock and will not sell until takeover is on the table


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## michael_selway (22 September 2007)

petervan said:


> http://c.moreover.com/click/here.pl?x1089525671&f=1774
> Great little article on takeover targets that could be coming up sooner rather than later.Have been patient and happy with this stock and will not sell until takeover is on the table






> Equinox aims to produce an annualised 200,000 tons of copper a year by this time next year. Current price levels for the stock suggest a long-term copper price assumption of around $1.65 a pound, just more than half the current spot copper price. The sweet part of this story is that Equinox's uranium resource is essentially for free. The figures start with Equinox owning around 20m pounds of uranium, sitting within its Zambian copper ore bodies.
> 
> The uranium leg of the operation could be in business by 2010 for a capital cost of around $200m, and a fair-guess operating cost of less than $20 a pound. Using current spot uranium prices of around $125 a pound, and annual Equinox production of 1.5m pounds or uranium, "Equinox Uranium Corporation" would generate cash flows of some $150m a year.
> 
> Uranium producers such as Cameco and Energy Resources Australia trade on actual cash flow multiples of ten times and more. A couple of multiplications, and it can be argued that Equinox's entire market capitalisation of C$1.8bn can be justified on its potential uranium production. For those investors still bullish on copper, Equinox's projected annualised production of that metal would produce cash flow of close to $1bn over 12 months, given current spot copper prices.




Not bad, and it has a 30+ year mine life

The EFIC’s confidence in the project is mirrored by the FNArena database, as it shows Equinox is rated as Buy twice and Hold once by the three brokers to cover the company. The average price target is $5.81, which is a substantial premium to today’s share price of $4.01, up 14c

thx

MS


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## Buffettology (22 September 2007)

Yeah, I read that same article Im pretty sure ages ago when I first bought in!

Of all the mining companies, this is the only one I am holding!

It has a little risk, but HUGE HUGE reward!  Im thinking of accumulating more...........

With their growth potential and uranium stocks, I would not be surprised to see this one his $10 a share 3-4 years down the track!  Depends once they get copper production under way, if they start mining uranium.  Thats if uranium is still being talked about in a few years, as its more a political global warming solution than in reality.  As high grade uranium is depleted, in 80-100 years nuclear power will cost the environment at on par levels to current oil and gas damage.


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## michael_selway (22 September 2007)

Buffettology said:


> Yeah, I read that same article Im pretty sure ages ago when I first bought in!
> 
> Of all the mining companies, this is the only one I am holding!
> 
> ...




Yep its not bad

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS -6.8 -6.3 47.5 134.1 
DPS 0.0 0.0 0.0 32.2 *

thx

MS


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## Gunlom (2 October 2007)

I've just pick up some EQN and am excited about the future prospects, however i just noticed that unlike my normal shares, which are listed as 'ordinary fully paid' on commsec

EQN are listed as 'CHESS DEPOSITARY INTEREST' and am trying to reseach the difference between that and 'ordinary fully paid' is this good or bad, or even why is the company listed like this??

Any help would be great....


----------



## semochen (3 October 2007)

I have been wondering too... been holding EQN for a while and had not bothered to find out what CHESS Depository Interests are..

so... straight from answers.com:

"CHESS Depository Interests or CDIs are a type of security which is used by the Australian Stock Exchange (ASX) to allow international companies to trade on the local market."


----------



## petervan (16 October 2007)

On the mineweb site Raymond James have upped there target price from cdn$5.00 to cdn$6.00. Also very bullish on base metal near and long term.Get the feeling there will be a takeover bid in the next 12 months. Good luck to all holders


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## BSD (17 October 2007)

Goldman Sachs JBWere now have a A$7.05 target on EQN. 

EQN is trading at below 3 times 2008/09 earnings if copper stays above $3.00

EQN is on target, on budget and fully financed to turn-on the biggest copper mine in Africa in 8 months time. 

Craig Williams and the team should be very proud with their accomplishments so far. 






Just wait until EQN is producing 150,000+ tonnes of copper and 2 million lbs of uranium per year and $1 billion of cash is being generated to fund further exploration on the prime copperbelt property, or maybe even a monster dividend!

If you like copper, EQN is the pick.

Just a note on a takeover - EQN has a massive dilution-bomb as a poison pill for anyone hostile. 

Any suitor will need to present themselves through the front door with a bunch of flowers and a large cheque. 

Personally, I wouldn't give mine up for anything less than $10.00


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## Buffettology (18 October 2007)

BSD said:


> Goldman Sachs JBWere now have a A$7.05 target on EQN.
> 
> EQN is trading at below 3 times 2008/09 earnings if copper stays above $3.00
> 
> ...




Absolutely agree!  I bought in at $3 something (so missed a lot of its huge gains), but still made a GREAT return and accumulated more while it was still around $3 something when we had that recent correction (well below $4).  Though, I am thinking of buying even more, this one looks set for big things!  I agree, in a few years, this share could easily climb upto near the $10 mark (assuming Copper does not get HAMMERED!).


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## petervan (27 October 2007)

Quarterly out last night with everything looking on time and budget.Very interesting to see how much exploration going on with drill results from 4 different sites coming out in the next quarter.Good results could see a serious jump in price and rerating. Definitly one to keep in the drawer


----------



## champ2003 (28 October 2007)

Buffettology said:


> Absolutely agree!  I bought in at $3 something (so missed a lot of its huge gains), but still made a GREAT return and accumulated more while it was still around $3 something when we had that recent correction (well below $4).  Though, I am thinking of buying even more, this one looks set for big things!  I agree, in a few years, this share could easily climb upto near the $10 mark (assuming Copper does not get HAMMERED!).




I find it interesting to read that you forecast $10 in 3 years time. I don't hold this stock however am watching it closely. It has risen from $2.50 to $5 in 6 months. Going to $10 from here in the next 6 months would not be out of the question IMO.


----------



## Sean K (29 October 2007)

Gents, in regard to price targets, I see little more analysis to come to that conclusion than momentum, which is no analysis and does not satisfy ASF policy on posting price targets. There must be FA and/or TA to accompany targets. 

ASF Policy on ramping


----------



## BSD (29 October 2007)

Some fundamentals perhaps...


EQN currently trading at ~3 times 2008/09 cashflow at $3.00Cu

To get near the current $10.00 'round number' target, I obviously think some of the following will come true:

a. The multiple will be closer to 6 times on production considering the 37 year mine life

b. Copper prices will be higher than $3lb 

c. The uranium BFS NPV due in January will be positive

d. The company will have continued drilling success on its number of targets

e. The company will do another BFS on its own electrowinning plant to extract their own cathode as well as cobalt and acid

f. The company will put some further detail re: cost and timing, of plans to go to 300,000tn/Cu/pa (!) as announced in the Fin two weeks ago


Point (f.) is the BIG announcement I am waiting for to blast the stock way beyond the current GSJBW target of A$7.05.

Do the sums on 300,000tns of annual copper production, with the capex financed from free-cashflow.


----------



## michael_selway (29 October 2007)

BSD said:


> Some fundamentals perhaps...
> 
> 
> EQN currently trading at ~3 times 2008/09 cashflow at $3.00Cu
> ...





Hm that 37 year mine life sounds attractive for takover esp

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS -6.8 -6.2 45.1 127.0 
DPS 0.0 0.0 0.0 30.4 *

thx

MS


----------



## lakuna (7 November 2007)

*Re: EQN - Equinox Minerals takeover by OXIANA*

forgot to mention it would be positive for OXR share price too!

--------------------------------

apparently rumours going round the investment banks is OXR is about to announce a takeover for EQN very shortly. The new copper mine is of much interest to OXR, and as we know, EQN has admitted it could be a takeover target. It would be the best thing for EQN as financing the Lumwana mine is burning a cash hole in its pocket right now.

Hope you got into EQN below $5, rumour is offer price will be above $7.. nice


----------



## Sean K (7 November 2007)

*Re: EQN - Equinox Minerals takeover by OXIANA*



lakuna said:


> forgot to mention it would be positive for OXR share price too!
> 
> --------------------------------
> 
> ...



lakuna, unsubstantiated rumours can not be posted on ASF. Please see the policy here. You need to provide a source otherwise the post will have to go. Cheers, kennas


----------



## BSD (7 November 2007)

*Re: EQN - Equinox Minerals takeover by OXIANA*



lakuna said:


> forgot to mention it would be positive for OXR share price too!
> 
> --------------------------------
> 
> ...




Considering Goldman Sachs JBWere now has an A$8.50 target, any suitor would need to pay higher than A$7.00. 

EQN are spending their debt package on building the mine, but OXR would equally need the finance package to build, the bill for Prominent Hill is now in excess of $1bn. . 

Considering OXR has a PE in excess of 10 on current forecasts, taking over EQN at any of these prices with scrip would be highly accretive and certainly great for the OXR share price. 

Note that a rumour around EQN/OXR/XTA/BHP/RIO/ZFX etc has done the rounds on a weekly basis for over a year 

Once again, EQN has a large poison pill available to management, so any approach needs to be friendly.


----------



## michael_selway (7 November 2007)

*Re: EQN - Equinox Minerals takeover by OXIANA*



BSD said:


> Considering Goldman Sachs JBWere now has an A$8.50 target, any suitor would need to pay higher than A$7.00.
> 
> EQN are spending their debt package on building the mine, but OXR would equally need the finance package to build, the bill for Prominent Hill is now in excess of $1bn. .
> 
> ...




At current forecasts, $10 sounds like a fair bid

thx

MS

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS -6.8 -6.2 45.1 126.0 
DPS 0.0 0.0 0.0 24.9 *


----------



## Buffettology (11 November 2007)

*Re: EQN - Equinox Minerals takeover by OXIANA*



michael_selway said:


> At current forecasts, $10 sounds like a fair bid
> 
> thx
> 
> ...




Absolutely!

And the beauty of EQN is that it experiences MASSIVE volatility!  Means you can buy in for the long-term with a portion of your portfolio and then trade it also with another portion week to week!

The money I have been making off EQN lately is out of control!  At this rate I will be able to retire for good!  My earnings from stocks if far exceeding my income from working over the last 6 months!


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## petervan (12 November 2007)

Zinifex narrows choice of CEO
LEAD and zinc mining giant Zinifex is close to naming a new chief executive, with the board in talks with a final candidate, reportedly ex-WMC boss Andrew Michelmore.

Getting a new CEO in place is an increasingly urgent priority for Zinifex with consolidation in the global mining sector set to peak as the world's biggest miner, BHP Billiton, tries to convince rival Rio Tinto to agree to a $US360 billion ($394 billion) merger. 

And Zinifex is an attractive cash box for a predator with $1.7 billion in proceeds from the float of its smelting assets as Brussels-based Nyrstar now sitting in its bank account. 

Zinifex shares jumped 4.3 per cent to $15.45 a share on Friday as mining stocks were bid up on expectations of further takeovers. 

The appointment of the ambitious Mr Michelmore would send a signal that Zinifex is determined to forge its own destiny rather than be a passive target, and Mr Michelmore would be expected to seek to use the Nystar proceeds to grow the company. 

Before returning to Australia last month, Mr Michelmore was a senior executive at Basic Element, the holding company of Russia-based global aluminium giant Rusal, giving him a broad set of connections beyond his WMC days. 

But whether Mr Michelmore, if he is appointed, will have much time to act is questionable. And he risks a serious bout of deja vu if as new CEO his immediate role is to conduct a bid defence. 

Mr Michelmore was left with the job of trying to navigate an independent future for WMC when former boss Hugh Morgan spun off the alumina business as Alumina Ltd to stave off a takeover from Alcoa. 

WMC instantly became the market's favourite takeover target, in 2005 BHP duly bought it for $9.2 billion after Mr Michelmore had headed a long-running defence against initial bidder Xstrata. 

Indeed the perception that Zinifex is a target is believed to be why it has taken the board so long to find a replacement for Greig Gailey, who left in June is and now chairman of the Business Council of Australia. 

An option for Zinifex is a long-tipped merger with fellow Australia mid-tier miner Oxiana, talks with which earlier in the year came to nothing. 

Oxiana chief executive Owen Hegarty wants to aggressively grow Oxiana into a diversified miner, and had a good look at nickel miner Jubilee before Xstrata beat off competition from BHP with a $3.1 billion bid. 

The Australian understands that Oxiana had about four months ago taken a serious look at emerging copper producer Equinox Minerals, which is aiming to start production next year at its Lumwanna copper project in Zambia. 

Since then Equinox shares have soared up from about $3.40 in August to now be $5.84 a share, valuing it at $3.3 billion.


----------



## michael_selway (12 November 2007)

*Re: EQN - Equinox Minerals takeover by OXIANA*



Buffettology said:


> Absolutely!
> 
> And the beauty of EQN is that it experiences MASSIVE volatility!  Means you can buy in for the long-term with a portion of your portfolio and then trade it also with another portion week to week!
> 
> The money I have been making off EQN lately is out of control!  At this rate I will be able to retire for good!  My earnings from stocks if far exceeding my income from working over the last 6 months!




What others shares do you own orhave bought recently?



> Date: 19/10/2007
> Author: Michael Vaughan
> Source: The Australian Financial Review --- Page: 63
> Australian-listed Equinox Minerals expects to commence production at a coppermine in Zambia in mid-2008. The Lumwana mine will initially produce 169,000tonnes per annum, but Equinox may eventually seek to lift this to around 300,000tonnes per year. The mine's copper concentrate will be processed atsmelters owned by Glencore and a Chinese consortium, although Equinox mayconstruct its own smelter in the future. CEO Craig Williams concedes thatEquinox could become a takeover target, although he says the company iscommitted to remaining independent




thx

MS

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS -6.8 -6.2 45.1 125.4 
DPS 0.0 0.0 0.0 25.5 *


----------



## Buffettology (14 November 2007)

*Re: EQN - Equinox Minerals takeover by OXIANA*



michael_selway said:


> What others shares do you own orhave bought recently?
> 
> [/B]




Not too many actually.

Bought BXB at 11 something, then it shot up and sold it.  

Bought BKL when it hit 20, sold at 22.

Bought about 40k worth of JST at 3.83, sold all the way up and sold my last lot at 5.88.  Just bought back in when it hit 5.35.  

Bought MCR at about 3.50 on its downfall, sold at 4.30 or something like that.  

Bought SDG a couple of times low, and sold it above 4

Bought EQN originally at around 3, sold up at about 6.04.  Plus traded it numerous times along the way.  Bought some more at 5.50 I think the other day.  

Their my main stocks I like (though not MCR anymore).

So this last 6 months has been a feast in the market!


----------



## petervan (15 November 2007)

Equinox uranium feasibility infill drilling confirms high grade uranium mineralization at Lumwana.Of the 170 holes drilled, 135 intersected uranium mineralization of 200ppm u3o8.Shareprice up 7% in Canada last night


----------



## dj_420 (15 November 2007)

petervan said:


> Equinox uranium feasibility infill drilling confirms high grade uranium mineralization at Lumwana.Of the 170 holes drilled, 135 intersected uranium mineralization of 200ppm u3o8.Shareprice up 7% in Canada last night




EQN is one stock I dont mind holding in the event of a downturn or sell-off, this company goes from strength to strength. My only complaint is that I didn't buy in earlier.


----------



## Buffettology (15 November 2007)

^^^^^

Exactly, I hold rather large sums of this stock now, and even in a downturn I will continue to hold.  This is a long-term mining company right here!  Dont hear that too often!  Too bad I didnt buy more when I had the chance back at $3 when I first came accross this stock.


----------



## michael_selway (15 November 2007)

Buffettology said:


> ^^^^^
> 
> Exactly, I hold rather large sums of this stock now, and even in a downturn I will continue to hold.  This is a long-term mining company right here!  Dont hear that too often!  Too bad I didnt buy more when I had the chance back at $3 when I first came accross this stock.




Hi what do u think of Coal stocks?

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS -6.8 -6.2 45.1 125.4 
DPS 0.0 0.0 0.0 25.5 *

thx

MS


----------



## Buffettology (16 November 2007)

michael_selway said:


> Hi what do u think of Coal stocks?
> 
> *Earnings and Dividends Forecast (cents per share)
> 2006 2007 2008 2009
> ...




Cant say I have looked at any Michael.  

I have browsed through several hundred companies and continue to browse.  I also look at new floats when they come up and decide if any of the companies I am looking at look like stable, long-run companies based on my own criterion.


----------



## Buffettology (19 November 2007)

Bad news on Copper pricing, with it hitting a 3 month low I beleive! 

I was also reading there is expected to be major overcapacity in a few years time, with current oversupply already out there.

Not a good sign for long-run copper prices!  Only bad news on EQN so far, need copper demand in Europe and the US to pick up again!


----------



## deep_is_blue (22 November 2007)

Buffettology said:


> Bad news on Copper pricing, with it hitting a 3 month low I beleive!
> 
> I was also reading there is expected to be major overcapacity in a few years time, with current oversupply already out there.
> 
> Not a good sign for long-run copper prices!  Only bad news on EQN so far, need copper demand in Europe and the US to pick up again!




Is this what is causing the disappointing SP at the moment?
I can't believe how much this stock is being pumped compared to the rest of the resource stocks... 2 out of 3 days with 6 - 7% losses


----------



## BSD (6 December 2007)

Up over 15% so far on the TSX with 40m shares crossed at C$4.75!

Those Canucks sure can manipulate a stock - but who just spent $200 million on a stake?

$1bn of cashflow is just around the corner


----------



## Resin (6 December 2007)

hi all
I bought yesterday at 4.75. im pretty happy chappy. Whats casued the sudden surge? Just the changes in the substantial holdings? Copper wasnt up much. 

cheers
alex


----------



## BSD (7 December 2007)

First Quantum (FM) announces 17% stake in EQN. 

Stock up another 15%  - through all time highs on good volume.


FM up 4% to $95.

Great buying, but they must be kicking themselves they didn't load-up under $1.


----------



## bvbfan (7 December 2007)

I'm kicking myself for selling at 1.30 

Managed to buy back a couple of days ago.

Also noticed that CMC offer these on 10% leverage too  Which I used 2 days ago


----------



## dj_420 (7 December 2007)

bvbfan said:


> I'm kicking myself for selling at 1.30
> 
> Managed to buy back a couple of days ago.
> 
> Also noticed that CMC offer these on 10% leverage too  Which I used 2 days ago




Yeah I am kicking myself also, sold out from the last run and was going to buy back in around 4.50, just didn't drop far enough.

Was contemplating buying in two days ago, VERY annoyed I didn't. I can see a takeover attempt on the cards and I dont think this one will go for less than $8-9 IMO.


----------



## dastrix (21 December 2007)

Any new news guys? This one is a bit quiet lately.. Would like to hear your thoughts. I should have got in a few days when there was a  4% drop 

Thanks
kris


----------



## Gunlom (21 December 2007)

Prices go up and prices go down,

4% drop in one day in this stock is normal, it's the long term trend that's important, and in my view that's up. In 2-4 years i hope this one will 100% or more up.

Unless your a trader, them 4% drop is important 

just my 2 cents worth


----------



## Buffettology (3 January 2008)

I actually hold two seperate shares in this stock.

One half is held for long-term growth and isnt touched.

Then I buy the same value worth when this stock gets hammered (I usually dont get it at the very low prices, but after around a 10% drop), then I sell once it has had its little boom once more.  Repeat, repeat, repeat.  Means I can make $$ off the long-run upward trend, and off its volatility.  Worked throughout 2007 for me, and I intend to keep trying through 2008.


----------



## Buffettology (3 January 2008)

deep_is_blue said:


> Is this what is causing the disappointing SP at the moment?
> I can't believe how much this stock is being pumped compared to the rest of the resource stocks... 2 out of 3 days with 6 - 7% losses




That is what caused its fall.  Once EQN starts producing, copper supply will only increase and worsen the current overcapacity, driving down copper prices.  

China and India are what continue to keep the copper price relatively stable, its the US and Europe of which are experiencing a lack in copper demand.

But just think, one day EQN will start mining uranium also.  Just another reason for long-run growth.


----------



## BSD (8 January 2008)

UBS boosts EQN price target to C$6.75 (~A$7.65)

Trading at new highs o/night.

Research note highlighting potential for production to be over 220,000tn per annum. 

http://network.nationalpost.com/np/...er-could-unlock-further-value-at-lumwana.aspx

Production remains on-track for 2H this year and the 2m/lb pa Uranium bankable feasibility study is due Q1 this year.


----------



## Buffettology (8 January 2008)

Damn, price is out of control at the moment.

Definately didnt expect such a rapid rise and hope we get another big dip in price so I can get more cash on board.


----------



## rustyheela (8 January 2008)

Pretty weak close at the end of the day though on very high volume. Seems alot of people willing to sell. but i agree a further retrace on low volume would be a ideal buy based on chart observations. A drop below support at $6.60 could be a bit of a worry


----------



## semochen (30 January 2008)

With EPS over $1 as of 2009, very tempting if this one goes under $4.50 again.. which I think is very likely in the current market.

Any views on how much its earnings will be affected due to the slow down of the US/world economy?


----------



## petervan (15 February 2008)

Large amount of brokers getting back from Zambia this week and with full production only months away we could see a rerating in the next weeks.Tax issue seems to have been blown out of portion and might just be political football amongst the Zambians.Chest beating to appease the masses


----------



## Buffettology (15 February 2008)

I love this stock at the moment!  

Got back on it 2 days ago.  Love the fundamentals and it looks good technically also.

Higher lows over the past month, RSI just broke through the 50 mark signalling a bullish trend, along with a bullish MACD crossover.  

Reistance around $5.67?

Only thing that scares me at the moment is the slowdown in the global economy and excess supply.  Both moving in different directions, could have a big impact on the price of copper.......

I will hold for the time being anyways.  Good move today against the market


----------



## petervan (20 February 2008)

Up 11% in Canada last night so I presume the 28 brokers who visited the minesite liked what they saw.Everything seems to be falling into place nicely


----------



## chrisee (20 February 2008)

I bought at $1.85 in October 2006. Very happy with my purchase. I wish I put more into EQN but it wasn't to be.


----------



## MRC & Co (20 February 2008)

Go you good thing!

My girlfriend saved some cash for a holiday and had it sitting in her money box (several thousand worth? WTF), so I told her I will invest it for her! ha ha.  Bit risky but hey, put it in EQN and made 15% in about a week!  Nearly 2 years worth of bank interest right there!  Just wish the rest of my portolio performed as well!


----------



## michael_selway (20 February 2008)

MRC & Co said:


> Go you good thing!
> 
> My girlfriend saved some cash for a holiday and had it sitting in her money box (several thousand worth? WTF), so I told her I will invest it for her! ha ha.  Bit risky but hey, put it in EQN and made 15% in about a week!  Nearly 2 years worth of bank interest right there!  Just wish the rest of my portolio performed as well!




haha nice work, she will thank you for once!

Yeah EQN is not bad maybe just some political risks

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS -6.8 -6.5 45.8 143.0 
DPS 0.0 0.0 0.0 24.3 *



> Date: 7/2/2008
> Author: Paul Garvey
> Source: The Australian Financial Review --- Page: 21
> Australian copper miner Equinox Minerals has downplayed the potential effect ofa windfall profit tax being debated in Zambia. A new regime that would increasethe tax and royalty rate for copper miners from 31% to 47% has been proposed byZambian Financial Minister, Ngandu Magande. The windfall tax would fluctuatefrom a 25% rate at copper prices of $US2.50 ($A2.80) a pound, rising to 75% withprices of $US3.50 a pound. Equinox CEO, Craig Williams, said the company wouldhave medium-term protection because of a 10-year development agreement, but ismonitoring developments. Shares in Equinox, which is close to commissioning itsLumwana mine, declined $A0.30 to $A5.10 on 6 February 2008


----------



## MRC & Co (20 February 2008)

michael_selway said:


> haha nice work, she will thank you for once!
> 
> Yeah EQN is not bad maybe just some political risks
> 
> ...




ha ha, she didnt seem to care!  More concerned about watching Americans Next Top Model, WTF!  

Thanks for the article, I was reading about that the other day, but doesnt seem to have affected its price too much.  

I think as its nearing production, everyone is becoming a bit more excited, not to mention the copper price has started to move right in time!  Saw the chart on another thread if I am correct, looks like its about to break out of a symmetrical triangle.  Maybe some legs left in this run yet.........


----------



## rustyheela (21 February 2008)

Yeah, she's broken out with a nice retrace to support/resistance @ $ 5.68 on below average volume, closing off the lows. Copper up again 2 nite along with other metals, so hopefully it can push on from here.


----------



## BSD (21 February 2008)

Without the frightening and dissapointing Zambian tax issues, EQN would be $7.50+ right now. 

If everything turns OK - we will be seeing $9 with Cu at $3.50+.

 But if the Zambian govt brings in the windfall tax and burns the development agreements, EQN will have a massive fall. 

Binary events sure do suck (technical term)!!!

http://www.mining-journal.com/minin...aking_News.aspx?breaking_news_article_id=4435

I simply hope for a deal that is fair for all involved - but the windfall concept will hurt all involved.


----------



## rustyheela (28 February 2008)

Zambia lifts copper mine power tariffs by 35% 
Related articles
IMF urges Zambia to renegotiate bulk electricity agreements
The International Monetary Fund (IMF) has called for a renegotiation of electricity bulk-sale agreements between the Zambia Electricity Supply... 
Zambia plans $1bn hydro power plant
Zambia plans to build a $1-billion hydro power plant, its finance minister told Reuters, and foreign investors in its copper mines are willing to... 
Power blackout disrupts Zambia copper operations
Zesco managers to be fired if they fail to present power solution
Zambia inks deal for Copperbelt industrial zone
By: Reuters
Published: 27 Feb 08 - 11:46
Zambia and foreign owners of its copper mines agreed a 35 percent power tariff increase effective January this year, and authorities have warned of possible power cuts to the mines due to a power generator fault. 
"All the mines have accepted the proposal to raise tariffs by 35 percent and we are just waiting for ZESCO Ltd to sign the agreement. The increase will be with effect from January 1 this year," Copperbelt Energy Company (CEC) chairman Hanson Sindowe told Reuters in an interview on Wednesday.

CEC buys power from state power utility ZESCO and distributes it to the mines.

Sindowe also said the sole power distributor was negotiating with the government to provide partial funding for the construction of the hydro-electric Kafue Gorge Lower power project, which is estimated to cost around $1 billion.

About 750 megawatts (MW) of power will be generated at the Kafue Gorge Lower project. The government said last week that some foreign mining firms would partially fund the project.

Sindowe said the new tariffs would be implemented once ZESCO Ltd., signs the agreement with CEC and the copper mines.

Sindowe declined to give details of the new tariffs after the increase only saying, "the tariffs vary from one mine to the other because we have different agreements with them".

Zambia's biggest copper producer is Konkola Copper Mines (KCM), a unit of London-listed Vedanta Resources.

*Others are Mopani Copper Mines, a venture of Swiss firm Glencore International AG, First Quantum Minerals and Chibuluma Mine, a unit of Metorex. Australia's Equinox Minerals owns Lumwana Mining Plc.*

Sindowe said power supply had improved to the copper mines after four nationwide blackouts in January forced copper and cobalt producers to trim output.

GENERATOR REPAIRED
ZESCO spokeswoman Monica Chisela separately told Reuters that a broken-down generator at Kafue Gorge had been repaired.

"The machine (generator) has now been repaired and re-commissioned. However, we are still in a power deficit situation and rationing of power will continue because we are unable to secure additional imports from anywhere to meet the power demand," Chisela said.

Chisela said the generator which had broken down was supplying 150 megawatts of electricity onto the national grid.

But Sindowe said the situation still remained 'precarious' because demand for power was increasing while supply was low and that this had forced the CEC to venture into power generation.

"The CEC is now looking at getting involved in generation of electricity and we are negotiating with the government to expand into power generation," Sindowe said.

Sindowe said the government was encouraging private-public partnerships in power generation projects to avert serious looming power shortages in view of rising demand by industry.

The CEC plans to build a 40 MW power plant north-west of Zambia, to cost between $80 million and $100 million, he said.

Zambia was still importing 100-150 megawatts of power from the Democratic Republic of Congo for the mines, he said.

Edited by: Creamer Media Reporter


----------



## 56gsa (28 February 2008)

is this just a crikey rumour??  down 3% today perhaps because of this  - copper price still raging breaking all-time highs...



> What About Ausenco?
> FN Arena News - February 28 2008
> 
> By Rudi Filapek-Vandyck
> ...


----------



## BSD (28 February 2008)

56gsa said:


> is this just a crikey rumour??  down 3% today perhaps because of this  - copper price still raging breaking all-time highs...




Who cares?

The Zambian tax regime issue is why EQN is not over $8.00 - check out the TSX last night for the lead on the stock - nobody reads Crikey over there and EQN fell while Cu made a monster new high. 

A delay for Lumwana (75% at last milestone) is a minor issue compared the potential negative of the windfall taxes and such other silly concepts being proposed by the Zambian govt. 

The timing could not be worse for the tax debate for EQN holders. 

The stock is worth well in excess of $10 under a reasonable tax regime at spot Cu prices whether it comes on time or 6 months late. 

Ausenco carries the risk - Equinox paid BIG fees for the guarantee.


----------



## petervan (4 March 2008)

AT LUMWANA SITE, Zambia -At Lumwana, there is a palpable sense of energy in the air. After years of preparation and hard work, this massive copper project in a remote corner of northwest Zambia is just months away from production.
More than 4,000 local workers mill around the site as construction reaches its final stages. A huge processing plant sits idle, ready to process ore from two nearby pits. An army of gigantic Hitachi EH4500 diesel-electric trucks has already started hauling ore.

An employee village, which will house 1,000 worker families, is rapidly being erected.

Lumwana is the brainchild of Equinox Minerals Ltd., a company that has gone from virtual obscurity three years ago to being one of the most heavily traded names on the Toronto Stock Exchange; it was third on the entire TSX 300 last year.

Despite a hefty market cap of more than $3-billion, Equinox is essentially a "junior" company. It has one major project and no revenue. But the mine will soon be producing 169,000 tonnes of copper a year, with uranium to follow.

It will be Africa's biggest copper mine and will make Equinox a major player in the industry.

This is not the way it is supposed to happen. When junior companies identify big deposits, their job is usually to sell out to the highest bidder before there is any construction risk.

Instead of following that path, Equinox became a typically African success story by showing some initiative and bringing the project along on its own. It has done almost everything right. And now it has to ignore the takeover speculation as it works through the final few months to production.

Like many African mining stories, Equinox has its roots in Australia and Canada.

Management is based in Australia, and they took the company public there in 1994. But they found a more welcome home in 2004 on the TSX, where they reached investors who were used to the riskier parts of the world.

At the time, Equinox was a $50-million company trying to raise more than $500-million for a remote, low-grade project in a land-locked country that had gone undeveloped for a long time.

It was a hard slog.

"We went backward. We practically halved in market cap the first year," says Craig Williams, Equinox chief executive. "It took persistence and having a good story."

Lumwana was discovered in 1961, but there was no serious work done on it until Equinox got involved in 1999. At the time, the property was controlled by Phelps Dodge Corp., a major producer that showed little interest in it. Mr. Williams formed a joint venture with Phelps in which Equinox could earn 51% of Lumwana by investing US$10-million and completing a feasibility study. Later, he struck a deal to buy Phelps out for a laughable US$5-million. That contract is framed on the wall at Equinox's head office today.

"You have to put it in context," Mr. Williams says. "Copper was 63 ¢ [a pound]. Frankly, Phelps Dodge was struggling at that point and selling assets all over the world. We just hit them at a good time."

Equinox eventually identified a measured and indicated resource of about 13.8 billion pounds of copper and 21.8 million pounds of uranium. That is big enough to be a world-class resource, but there were still those who complained it was too low-grade or too remote to get developed by anyone, much less a little-known junior.

Mr. Williams set out to prove them wrong. He put together a team with experience building mines in Africa, and he has kept them together for five years. Project manager Harry Michael also built the Geita mine in Tanzania, which is one of Africa's largest gold mines. He ended up bringing nearly all of Geita's senior management with him to Equinox.

Construction of the mine started in earnest in late 2006, and investors gradually started to understand that Lumwana was for real. The stock vaulted to more than $5 today from less than $1 in late 2005.

Mr. Williams initially thought he would need to raise about US$350-million to build the mine. It ended up costing nearly US$800-million. But Equinox has done a remarkable job of keeping the project on budget as competitors struggle with spiralling costs.

The key move was ordering the big mining and plant equipment years before it would be needed. Equinox did an equity raising of $29-million in 2005, and nearly all of it went right out the door in the form of deposits on equipment. It was a big risk, but the company saw the shortages coming and locked in ahead of time. The company bought 27 of the monster Hitachis at a cost about US$3.5-million each. They weight 200 tonnes and can handle loads of 240 tonnes.

Equinox also secured crucial offtake agreements with two smelters, and a 15-year power supply contract with Zambia's state-owned utility, in which it will use about 8% of the country's total supply.

In Central Africa, another big problem is the unskilled workforce. About 80% of workers in rural Zambia have never even driven a car, much less a giant truck. Equinox brought in four simulators, at a cost of about US$400,000 a piece to give each employee at least 40 hours of training before they start working in the open pits.

For their services, workers get on-site housing, as well as salaries of about $14,000 a year. That amounts to a Lotto 6/49 jackpot in this corner of the world . The company is worried some of the tiny homes will end up housing nine or 10 people as employees move in their family and friends.

Lumwana is about 83% complete, and it is easy to get a sense of what it will look like when up and running. What stands out is how big it is: the land position covers 1,355 square kilometres, and Equinox has utilized 40,000 cubic metres of concrete and 2,000 tonnes of steel. About 60 kilometres of piping and 180 kilometres of electrical cable will go in over the next few months.

While the company has silenced the doubters who didn't think the mine would ever get built, a new theme has emerged among investors that Equinox is less than thrilled about: A potential takeover of the company.

The speculation began in earnest this past December when rival First Quantum Minerals Ltd. announced it bought 17.27% of Equinox shares. First Quantum has denied investing for any reason other than Lumwana is a good project. But some analysts speculate Equinox could effectively be in play. Alec Kodatsky at UBS even published a note saying a major company could expand Lumwana faster than Equinox.

First Quantum was the first company to set up a successful mining operation in the Zambian copperbelt back in the 1990s, and has paved the way for Equinox and others. But the Equinox team feels slighted by First Quantum, who they claim were dismissive of Lumwana at the beginning. It's a different story today; First Quantum is now talking up potential synergies between Lumwana and its own Kansanshi project nearby.

"If, for whatever reason, Equinox has any problems in the future, then we might review that stake. Either increase ir or decrease it. We have those options," says Clive Newall, president of First Quantum.

While First Quantum appears to be in no hurry to buy more Equinox shares, experts say there is good reason for it to do so. First Quantum stock has outperformed every mining stock in the S&P/TSX Composite Index in the past few years because it built the best growth profile. However, much of that is in the politically unstable Democratic Republic of Congo, where title is a concern. Investors may prefer a focus on Zambia, a more stable country that First Quantum knows well.

None of this talk makes Mr. Williams very happy. He knows Equinox is most vulnerable now, because the stock will get valued higher once Lumwana is in production. And he knows Lumwana is one of the few greenfield copper projects big enough to interest a major. He thinks First Quantum just recognized it was cheap and was not going to get any cheaper.

He says he "absolutely" does not want to sell at this stage of the game, and that any company thinking of coming after him should be prepared for a fight.

In the meantime, he can finally enjoy a little credit for building a giant mine in an obscure corner of the world that almost no one believed in until he convinced them otherwise.

"I just had a meeting with one of the world's largest mining companies who had just been through the copperbelt in the DRC and Zambia," he says.

"They visited all the copper mines. And when they got to Lumwana, they said 'This is the only one that is being run like us.


----------



## blossom (24 March 2008)

Wondering if anyone knows...heard any forecast on when EQN is expected to pay a div. 
Hopeful I know, but I DO have lots of kitties to feed.........


----------



## semochen (4 April 2008)

any thoughts on how the sp will perform after the new tax rules in Zambia?

would have thought it was priced in already, and was actually looking for a rebound on 1st April, but only to see it drop another 7% in 2 days.

could be from broker downgrades?? saw Huntley's recommendation to sell - on the 2nd of April on Etrade.... what a slow response that was..  recommending selling before the taxes were introduced would have been more professional IMO

also how much impact does this have on the future earnings, anyone know?
(sorry not good at this sort of things)


----------



## rhyslivs (8 April 2008)

After doing a little research into EQN I noticed that Zambia is a completely landlocked country. I had a look on the EQN website and it doesnt really detail much on the logistics side of things. So my question is, how do they plan to get the copper out of the country? Or, does it become the responsibility of the smelters?

Forgive me if this is a really stupid question but i dont know!

Rhys


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## MRC & Co (14 April 2008)

WOW, now is this a case of supply being SUCKED up by demand at these levels of 4.80.  Narrow range, HUGE volume and closing towards the high, which is a great outcome.

At these prices, EQN looks cheap fundamentally and the massive demand coming in at these levels is promising.  I just LOADED up on EQN about 5 minutes ago FWIW.  See how we go, only plays of mine are EQN and BHP (which is forming a high tight flag) at the moment.


----------



## petervan (22 April 2008)

DOW JONES NEWSWIRES 

The Zambian government will start issuing uranium mining licenses effective June, a government official at the Ministry of Mines and Minerals Development told Dow Jones Newswires Monday. 

According to the official, this follows approval of the country's legal framework to guide uranium mining activities by the International Atomic Energy Agency. 

"We have been cleared to license uranium mining and we shall start issuing mining licenses in June," he said by telephone from Lusaka, the Zambian capital. 

Zambia has been waiting for the approval of the IAEA before clearing uranium mining, global demand for which continues to soar, propelled mainly by resource-hungry China and India. 

Toronto listed Equinox Minerals Ltd. (EQN.T) and Australia-based Albidon Ltd. (ALB.AU) have discovered commercial uranium reserves at their respective properties in Zambia. Despite this progress, Zambia hadn't cleared either of them to start mining. 

Last year, Kalombo Mwansa, Zambia's minister of mines and minerals development told Dow Jones Newswires that because of the sensitive nature of the metal, the government was treating uranium mining with caution. Companies which have discovered uranium currently only hold exploration licenses and aren't allowed to mine it. 

According to an official with Equinox Minerals, uranium and copper ores are embedded in the same rocks at the Lumwana Copper Mine, which starts copper output in the middle of this year. 

According to company information, Equinox is finalizing the Lumwana uranium feasibility study and plans to start uranium output in 2010. Company data indicates Lumwana hosts a probable uranium resource containing around 22 million pounds of uranium concentrates. 


-By Nicholas Bariyo, contributing to Dow Jones Newswires; 256 75 262 4615; bariyonic@yahoo.co.uk 


(END) Dow Jones Newswires 

04-21-08 1017ET 

Copyright (c) 2008 Dow Jones & Company, Inc.


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## dj_420 (29 April 2008)

EQN looking good for a start up with production coming online during next couple of months. With copper still up close to $4 US per pound and stockpiles nearer to the 100 000 tonnes on LME they are surely placed in drivers seat to take full advantage of any further supply shortfalls.

Stock has not recovered like others have, the highs were around $7 and now trading around $5. My preferred play on the copper front. Anyone else holding?


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## dj_420 (29 April 2008)

> "EQN") ("Equinox" or the "Company") reports that the uranium feasibility study
> ("UFS") at its Lumwana Project located in the North-Western Province of Zambia
> has been completed.
> The Lumwana Copper Project, presently nearing construction completion,
> ...




Something just released might start to fire up the sp, uranium production set to be $16 per pound cost before copper credits and $11 per pound after copper credits.

This is on an estimated through put of 2 million pounds of u, not bad for a copper explorer who could be set to realise an additional billion dollars of profit. Will start to make them a very cheap and attractive copper play now!


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## dj_420 (29 April 2008)

Equinox Minerals "buy," target price raised
03/27/08 - UBS
NEW YORK, March 27 (newratings.com) - Analysts at UBS maintain their "buy" rating on Equinox Minerals Ltd (EYO1). The target price has been raised from C$7 to C$7.25.

In a research note published this morning, the analysts mention that the uncertainty surrounding the new tax laws in Zambia is expected to have a negative impact going forward on Equinox Minerals’ share price. The actual financial impact of the proposed tax measures on Equinox Minerals’ performance is hard to assess in the absence of details, the analysts add. The potential hike in the tax rate is expected to be more than offset going forward by the rise in copper prices, UBS says.


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## semochen (30 April 2008)

Down day after the uranium FS both in TSX and XAO...

Is the UFS not as good as people thought? Don't understand much 
of it myself (Don't seem like a "sell on the news" situation since there wasn't much of a 
"buy on rumour" anyway..)

Tax issues still keeping people uncertain, but my main concern is whether construction will be done on time. A guy at topstocks keeps going on about how Ausenco will not be able to finish the job on schedule... 

not that I believe people there at topstocks, but still raises a concern
since if it is true, it will be a major issue


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## MRC & Co (6 May 2008)

This looks an EXTREMELLY promising long play to me, just so much confluence today.

I see accumulation taking place, a doji yesterday providing a micro double bottom pattern and a breakout signalling a buy today.  

Some strong support, and some great fundamental value here at this price for EQN.

I placed a stop below yesterdays doji and bought today.  

Great long swing trade here IMHO.


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## Schmuckie (10 May 2008)

I just had a look at the TSX trading on EQN.  It's not quite 3:00 p.m. here, and already 13 million shares have traded while the stock is down just over 6% from yesterday.  During the period shown in the Price History chart of March 28 to May 28 the previous volume high was 9,461,428 shares.  

Can someone with more experience provide any kind of interpretation of this?

Thanks,
Schmuckie


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## MRC & Co (10 May 2008)

Schmuckie, just means a lot of sellers, however, quiet a few buyers coming in to suck up supply.  Still down 6% is not good.

I sold this at close yesterday, as the trade did not go my way immediately, however, I will be monitoring this one closely for another trade to come up.  

Not an overly large room for downside for this one IMO.  Just a waiting game for investors and some fantastic trading opportunities for traders.  It has been my most successful trading stock bar none.


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## Schmuckie (10 May 2008)

I'm in the very early stages of researching this company and want to look a bit more at their financials, their geological reports (comparing them to the grades and costs of other copper miners) and have an independent look at the background of the company and its officers and directors and assess geopolitical risk before making any decisions.  Any thoughts here are more like "thinking out loud".

It looks like from the news reports here in Canada that countries like China have a sufficient supply of copper warehoused to meet immediate needs and new suppliers are coming on stream to meet the forecasted needs:  hence, copper prices are falling.  This would, of course, put downward pressure on the share price of all copper miners.  Share price and fundamental worth of a company don't necessarily align with each other.

Looking at EQN's trading history on the TSX, there was a huge spike in buying with more than 40 million shares trading in a short time (accompanied by lower prices) in December when First Quantum purchased its stake in the company.  

Although EQN has stated that it wants to go it alone, consolidation in the industry is the order of the day (whether EQN is taken over voluntarily or not - I understand they have a poison pill defence).  On the other hand, all the big miners had to start somewhere.

I'm not in a position to be an active trader.  First, I don't know enough about it and, secondly, we have an account with a full-service broker/advisor serving high net worth individuals.  Our brokerage account gives us a number of free trades but it's certainly not limitless.  Because we don't use all of those trades, I'm able to use the little bit of "fun money" that I've accumulated to do some buying and learn a little bit about the stock market.  My spouse, an accountant, has made our investment decisions, but it's irresponsible of me to have left learning how to invest so long and it's time I caught up.

If I were to decide to pick up a few shares after doing my research, it would be a buy-and-hold investment decision.  I simply hate paying too much for anything and would be looking at how to time a purchase.  Based on the spike in activity with lower prices, I wonder if we can expect continued lower prices for only a few more days or whether that it would be to wait a little bit longer.  I'd be interested in knowing what members of ASF are thinking.

Many thanks,
Schmuckie


----------



## Schmuckie (11 May 2008)

Just read on a Canadian forum that 9.7 million shares crossed (it appears to have been a single transaction) on Friday.


----------



## Schmuckie (14 May 2008)

News announcement:

http://www.cnxmarketlink.com/en/releases/archive/May2008/13/c7981.html

Light trading on Tuesday on the TSX, but a 5 million share block apparently was traded on Monday and, as I now understand it, a 9.7 million share block traded on Friday.  

I wonder if there's any connection between First Quantum's holding of 97 million shares and 9.7 shares (out of the day's total of 14 million) in one trade?


----------



## Schmuckie (17 May 2008)

You may want to have a look at this interview clip on Canada's Business News Network:

http://watch.bnn.ca/commodities-report/may-2008/commodities-report-may-16-2008/#clip53388


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## dj_420 (19 May 2008)

EQN chart looking very good, the past few weeks have shown strong buying support around the 4.70-4.80 mark. This point has been tested several times and held on each occasion. 

Interesting that the MACD first crossed back over from the downtrend on the first touch of the support. At this point it looked very oversold on the Stochastics. From this support point EQN has consolidated around the 4.80-5.10 range with increasing volume.

EQN has moved up to the 5.50 mark where historically it has been a resistance/support level. I would like to see the sp move up through the 5.50 mark and form a new base from which to attack old highs.

Fundamentally this technical movement could coincide with mine commissioning and a high copper spot. As well as director buying on market and tax issues 'seeming' to be sorted.

IMO downside risk from here is 4.80, upside potential could be a move through the 5.50 mark and push to historic highs.


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## MRC & Co (19 May 2008)

Yes, after that micro double bottom I thought this one had a stack of confluence (accumulation, double bottom, great FA value).

It is one of the 3 I hold in my long-term portfolio and have as of late, shifted more funds accross to EQN based on the above paragraph.  Been buying around the $5 level and attempted a couple trades which turned out a zero sum game with price fluctuating but no trend or decent swing emerging.

I have been waiting for EQN to breakout for some time now, this may just be the run!  

One of the most undervalued and supressed stocks on the ASX IMHO.


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## 56gsa (21 May 2008)

Has served me well in the past but with tax issues and upcoming commissioning there's some potential downside in the short-term...  not withstanding the fact potential takeover will negate these to some extent

some interesting numbers below - sorry for the formatting (does anyone know how to save a table/chart as an image??)

basically it shows eqn is valued at the lower end cf other Cu hopefuls, but has the largest Cu reserves of them all (6278kt) cf IRN's portion of Tampakan which is 4800kt

Market valuation of in-situ metal										
	PanAust	Cudeco	CopperCo	Zambezi	Anvil	Equinox	Matrix	EXCO	Discovery	Indophil
US$/lb Cu 	0.54	0.48	0.46	0.31	0.27	0.22	0.11	0.11	0.1	0.04
kt Cu (attrib.)	1500	440	360	68	1769	6278	276	403	352	4800


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## Sean K (31 July 2008)

1217 [Dow Jones] Share price weakness for Equinox Minerals (EQN.AU) makes company attractive to potential acquirers, says Credit Suisse. Canada's First Quantum (FM.T) is in box seat, already holds 17.3%, might even be able to fund bid at 100% premium, using debt. Equinox share price falls to near 1-year low of A$3.70 this week, down 26% since late June. Company's Lumwana copper project in Zambia was supposed to be commissioned last month, but fire at transformer delays progress. CS says Equinox immediate outlook clouded by Zambian fiscal uncertainty, but medium-term "stellar." Lumwana is 170,000-ton mine, one of largest additions in copper market in stressed supply environment. Other possible suitors OZ Minerals (OZL.AU), Xstrata (XTA.LN), Lumwana already has offtake agreement with major Xstrata shareholder Glencore. (EFB)


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## BSD (1 August 2008)

The Canadians got excited by the takeover talk - up 10%

http://www.tsx.com/HttpController?G...=&QuoteSymbol_11=&QuoteSymbol_12=&Language=en

Touched C$4.50

Shorts getting hurt having to cover. 

My heart bleeds

EQN trading at 50% of value because of a 4 month delay in starting a 37 year mine.

Efficient market?


----------



## Sean K (1 August 2008)

Anyone got an update on these tax laws?

The last I saw it had to be debated in parliament. They have parliaments in Zambia? Wow!

I notice this in their last presentation:

However, Equinox has a Development Agreement (“DA”)
Legally binding DA signed in Dec 2005 (already high Copper prices)
Lumwana is ‘greenfields’ development – unlike other mines that acquired existing operations and infrastructure
Equinox has not been making ‘windfall profits’ – it has been investing $800m
Zambian Government recognises that Lumwana is different
The terms of the Equinox DA have been applied to date and the Government continues to do so

So, new tax regime won't apply? Or what? 

Certainly looks like a good deal after coming off so far. I just wonder how much further commods have to correct with the general market. Damn, wish I had a crystal ball to see a date for the bottom!


----------



## Sean K (5 December 2008)

Anyone got a handle on their debt and cash?



> As at September 30, 2008, Equinox had cash resources of US$51.8 million and undrawn debt facilities of US$151.4 million which includes the New Loan Facility ($80 million) as described earlier and the $45 million Contingent Funding Facility. The outstanding capital commitments of the Company relating to the construction of the Lumwana Mine at September 30, 2008 are $55.1 million.




So, they have no cash left???

Absolutely fantastic project, if copper was tripple the price.... 

Can't believe it got to $1.00. Must have been some great survival/panic selling going on there. Unless, of course, it goes into moth balls along with every other resource project....

Maybe we can all chip in and buy this and OZL for a few bucks....

Looks like a sitting duck to me.


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## speculator101 (5 December 2008)

Hey Kennas.

Been watching this stock since it was just a little IPO.
As you say, it is an amazing copper company when copper prices are triple what they are on spot.
I will give you some figures from Huntleys latest recommendation...

Copper Price     FY09 NPAT        FY09     
Sensitivities       (A$m)           Interest Cover (x)
US$2.00/lb         158.8               4.5 …. “Safe….
US$1.75/lb         111.2               3.6  ….. “ok
US$1.50/lb          63.7                 2.8 …… “not too bad
US$1.25/lb          16.1                 2.0  ….. “mmmm… still want it higher
US$1.00/lb         -31.4                1.2 …… “not good but could be worse
US$0.75/lb         -78.9                0.4 ……. “Not good…

“they are my comments!! Ha) – im trying to be positive!!

Its kinda scary, and I wont even show your FY10!!!! no good.
Unless like all the analysts are still sticking too, is a return to better prices...
Maybe it will happen, i mean, how long can the US dollar really stay up...
They are the ones that started this mess, and sooner or later resources will go up.. but when... 
EQN is a great company, was def T/O material before the turmoil, and surely, it is still a great company to grab... But, you would need 2.5 Billion to buy it and clear debts... NOT in my pockets!!!!
IMHO.


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## Project Director (4 February 2009)

BSD, you slightly under scored the 4 month delay mate, more like a entire copper boom and covering a key 9 months. These events were always on the cards with AAX involved. If you see a AAX project run.


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## rustyheela (27 June 2009)

*EQN*

Equinox Minerals' output to lag forecasts - analyst 
0 COMMENTS  |   ADD A COMMENT PRINT  EMAIL   |  

By: Reuters
26th June 2009 

Updated 7 hours ago -TORONTO -

 Equinox Minerals will likely miss production and cost targets at its Lumwana copper mine in Zambia this year, Macquarie Research said on Friday.

In a note, analyst Pierre Vaillancourt said heavy rains and other factors such as a lack of available trucks would likely keep Equinox from meeting its production goal of 170 000 t of copper in concentrate at a cost of $1,15 a pound for 2009.

"We estimate the downside range to be 130 000-140 000 tonnes at costs of C$1,31/lb," he said.

He said it could be a "challenge" for the company to produce 170 000 t - the company's long-term target for steady production - in 2010 as well, although that will depend heavily on the length of next year's rainy season, he said.

Macquarie now expects output of 139 000 t this year and 163 000 t in 2010.

Vaillancourt expects Equinox to achieve steady output of 170 000 t over the next 12 to 24 months and possibly expand from there. He said the mine offers "attractive upside".

Kevin Van Niekerk, Equinox's vice-president of investor relations, said the company has not revised its production expectations for this year.

"We have not presently changed that guidance," he said in an e-mail. He said the company is currently in its "quiet period" ahead of release of its second-quarter results late next month.

Lumwana, which Equinox says is Africa's largest open-pit copper mine, opened in December after a five-month delay caused by a fire at the site's processing plant.

The mine was shut down for about 18 hours last week and lost 500 t of copper production during a national blackout.

Equinox, which is 16 percent owned by Canada's First Quantum Minerals, also mines uranium from Lumwana and plans to build a uranium processing plant when prices recover.

Shares of Equinox, which is based in Australia, but trades in Toronto, were down 5 Canadian cents at C$2,73.

The shares have doubled so far this year, helped by copper prices that have rebounded somewhat from last year's crash.

Edited by:


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## Gunlom (27 June 2009)

*Re: EQN*

For me and I guess so many other people one of the major lessons of this crisis is to take what is written by analyst and other 'experts' with a grain of salt.

They can provide some useful background information.  

Even on the reduced output, and increased cash costs, that the analyst thinks. They are still on a PE of about 5-6 currently in there ramp - up year. With lots of upside still to come

Personally I think the management have done a great job getting this project online, Every major enterprise has it up's and down's, they have done a good job navigating through them so far.

PS . Am a Holder


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## rustyheela (22 August 2009)

*EQN*

anybody got any thoughts on why equinox hasnt /isnt being rerated?
cashburn, sovereign risk, ignorance?

It’s All Smiles At Equinox As Copper Production At Lumwana Gets Into Its Stride, And The Uranium Stockpile Grows Ever Larger

By Our Man in Oz

In the black, on the podium, and stacking cash. Take your pick of that trifecta and you’ll understand why Equinox Minerals chief executive, Craig Williams, had a broad grin on his dial when Minesite’s Man in Oz caught up with him for a quick chat at the Diggers & Dealers forum in Kalgoorlie last week. “We’re certainly starting to make good progress”, was his cautious response to the standard questions of performance and outlook. When pressed for detail Craig begged off, citing the imminent filing of the June quarter report, which made it to the stock exchange on Friday. The wait was worthwhile, as Equinox reported a maiden profit, and rising copper production at its big Lumwana mine in Zambia. But, somewhat curiously, that was not the main reason for Craig’s big smile.
"I’ve waited 13 years for a chance to make a presentation at Diggers, and now I’ve got it”, he said. Why it took so long for one of Australia’s more successful explorer/miners to win a podium spot is one of the mining world’s more interesting stories, and it has more to do with the way the event is tightly-controlled by a group of Kalgoorlie “mates” than with the delivery of any deliberate snub. “I guess my problem is I didn’t go to Kalgoorlie primary school”, was Craig’s one-liner, delivered with a laugh. Another issue that companies have to overcome is that Diggers is a “gold heavy” event with a preference for anyone operating within 100 kilometres of Kalgoorlie. That’s a problem for an African copper miner, which also has a growing pile of stockpiled uranium ore.

History aside, the point is that Equinox got its moment of glory in Kalgoorlie, albeit that it was a few days before the formal lodging of a stock exchange report, making it a somewhat cautious presentation. Much more information came in the quarterly. This contained both positive and negative detail. On the positive side, Lumwana generated a maiden operating profit of US$36 million in the three months to 30th June. After financing and other costs this melted away to leave an accounting loss of US$38.7 million. But, that loss, and a slow ramp-up in mining operations, could not diminish the joyous fact that around 10 years after Lumwana emerged as a potential mine development it is in now production, posting operating profits, and getting set for at least 37 years of productive life.

In what is the project’s first “normal” quarter after a protracted completion phase, which came complete with a delayed start-up courtesy of fire and flood, Equinox reported the mining of three million tonnes of ore for the production of 62,603 tonnes of copper concentrate. That equates to 24,413 tonnes of copper metal, or 53.8 million pounds, produced at a cash cost of US$1.44 per pound. Problems in the pit rather than in the processing plant dogged operations in the latest quarter even though mine fleet availability rose from 71 per cent to 89 per cent. “This availability needs to further improve and be maintained to meet production targets”, Craig noted in his management discussion.

Analysts also singled out the mine fleet for careful comment, with Goldman Sachs telling clients that the market “remains concerned at the rate at which Lumwana will ramp-up to full scale”. Despite this remark Goldman remains a staunch supporter of Equinox, maintaining a “buy” recommendation on the company, and putting a 12 month price target of A$4.25 on the shares, which are currently trading at around A$3.06. The profit forecast from the broker is that Equinox will report a full year loss for calendar 2009 of A$57.1 million, but that that will rocket up to a profit next year of A$196 million, and effectively double again in 2011 to A$358.8 million. That best guess puts Equinox on a 2011 price to earnings ratio of just 4.8, an interestingly low number, given the long-term nature of the Lumwana mine.

It’s the scale of Lumwana which sometimes seems to be lost on armchair critics who look only at the speed at which the mine is achieving its potential. This is not a small mine. It is one of the world’s biggest, and it has decades of production ahead, not to mention additional exploration potential both for copper and uranium. For newcomers to the Equinox story, Lumwana is an orebody containing copper-rich and uranium-rich structures. The copper material is the first to be processed because there’s much more of it. The plan is for Lumwana to achieve annual copper production of 170,000 tonnes, or 375 million pounds, at a long-term cost of US$1.15 per pound. The uranium-rich ore is being stockpiled because it would contaminate the copper circuit. A decision on a uranium processing circuit will be made once the copper operations are bedded down.

Over the past year the uranium stockpile has been a “sleeper” on the Equinox books which has interested everyone who looks closely at the company. In fact, technically it is more than a sleeper - it is actually being treated as waste from an accounting perspective. But, this “waste” material is starting to become extremely interesting, hence the reference in the opening lines of this report to Equinox “stacking cash”. At 30th June the stockpile of uranium-rich ore stood at 345,000 tonnes of material grading 800 parts per million uranium, and 0.7% copper. Putting a value on that is not easy, but for argument’s sake assume there is currently about 300 tonnes of uranium, or about 600,000 pounds (using the US measuring system of 2,000 pounds to the ton) which, at the current spot market price of US$48.5 per pound is about US$29 million worth of uranium. There’s also an additional 3,000 tonnes of copper, which adds up to another US$15 million.

Goldman Sachs is starting to echo the view of Minesite’s Man in Oz that the Equinox uranium stockpile is becoming a little hard to ignore, especially as it appears to be growing at a rapid rate. The broker noted that the mine will have stockpiled three million tonnes of copper/uranium ore by the end of the calendar year, all awaiting treatment in a new uranium plant. “This is an acceleration from the mine plan which envisaged 1.7 million tonnes by the end of 2009,” Goldman said. This is making the stockpile almost as interesting to watch as the Lumwana mine itself, as Equinox gets its mine fleet up to speed, and shakes off the last of the commissioning and ramp-up issues which have distracted management and investors.


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## Project Director (30 August 2009)

and then they had the COO in country run away from the scene.

wonder how long it may take to appoint the right man for the mine now.

rule one thanks.


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## rustyheela (17 September 2009)

*EQN*

pushed through resistance @ $3.55, near close on high of day, probably a friday retracement to be expected, if on low volume, and base metals, pus up next week, i bein ridin, i will ride!! biggest worlddwide copper producer cummin on line now!! right phase, right product, rightnow!!!

im no ramper, just my thoughts, have faith in your own research


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## Out Too Soon (11 November 2009)

Quite correct Rustyheela, more info to back your statements is always a plus tho but when the sp does what you said it would then you can always say you weren't ramping you just couldn't be bothered posting the reams of research you've done.    (charts a lazier approach   )


Still looks bullish to me although it would have been nice to be in earlier I beleive from my chart that it has the legs to run to 4.30 & hopefully beyond.
  I'm on it now & will be adjusting my upper exit sp over the next few days (I hope)


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## thierry (2 December 2009)

Anyone know of any reasons for the 8% jump today? 

its just gone past the previous high (1yr).


Just need a few more characters now....


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## Sean K (2 December 2009)

thierry said:


> Anyone know of any reasons for the 8% jump today?
> 
> its just gone past the previous high (1yr).
> 
> ...



OZ Minerals is looking to buy some add-on copper/gold assets. EQN is probably on the shopping list along with CDU. Not many other decent copper prospects.


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## Gunlom (2 December 2009)

Increasing coverage as mine ramps up

http://www.thebull.com.au/articles_detail.php?id=7697

http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=93599&sn=Detail

Increasing tons of copper produced each quarter.

next years full year production to be 160K tons

reduced cash costs

strong copper price $3+/lbs

Uranium (with copper credits) likely to start in the next 18 months, all  funded off increasing cash flow

exploration upside

37 year life of mine

will be the 20th largest producer of copper in the world...

mined in a stable multi party democracy in africa

eps next year could be anywhere between $50c to $1.10 depending on copper price and AUD/US 

whats not to like...

personally I'm very surprised no take over offer has been announced, all the majors have to have run the ruler over this one... time will tell

I hold....


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## It's Snake Pliskin (4 January 2011)

Just seeing this one approach highs of $6.50 ish to $7ish so thinking where will it go from that point? Down for a retrace or consolidation before a push up? What are the fundamentals like?


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## Sean K (4 January 2011)

It's Snake Pliskin said:


> Just seeing this one approach highs of $6.50 ish to $7ish so thinking where will it go from that point? Down for a retrace or consolidation before a push up? What are the fundamentals like?



Moving up to a potential breakthrough by the looks.

Fundamentally hard to say Snake. I liked Citadel but they certainly paid for it, and who's to know how that turns out. 

Targeting 260ktpa within 4 years. That's a lot of Copper and at current prices...

Cash around $263m, debt $433m with that prospective cash flow (Opex?) looks pretty good numbers. Obviously need to see the details on the funnies...

I'm surprised they've stayed independent actually. Could have been easy pickings for a BHP like beast to snap up last year.


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## It's Snake Pliskin (5 January 2011)

kennas said:


> Moving up to a potential breakthrough by the looks.
> 
> Fundamentally hard to say Snake. I liked Citadel but they certainly paid for it, and who's to know how that turns out.
> 
> ...



Thanks Kennas.

They'll benefit from by-products like silver etc? I guess, too.
Just looking at price myself but curious as to why price has moved up a bit. 

Cheers...


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## Sean K (5 January 2011)

It's Snake Pliskin said:


> Just looking at price myself but curious as to why price has moved up a bit.
> 
> Cheers...



I think it's down to the copper price. It's really ran hard the past few months and most things copper have flown.


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## tinhat (4 February 2011)

EQN closed above its January top and November top. Closed highest in 12 months at 6.66 today.


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## takestock (4 February 2011)

tinhat said:


> EQN closed above its January top and November top. Closed highest in 12 months at 6.66 today.




Copper price has recently climbed but EQN price wasn't really doing anything...until I sold
@ $6.11 a few days ago
 Who has been behind this sudden price rise?Institutions?


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## thechap1 (19 February 2011)

Can anyone assist, i can't seem to find out why EQN took a 4% downturn yesterday.  Perhaps profit taking in light of the previous strong month?  I have been watching for a buy.  

Thank you in advance.


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## Boggo (22 March 2011)

I sold out of EQN today, I "inherited" the shares in EQN last week after they took over CGG which stopped trading after 13/01/11.

A good example of bad timing I guess, had no access to any shares in either until last week when EQN appeared in my account.
The profits I had on CGG took a nice hit.

New lesson learned, won't get caught like that again 

(click to expand)


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## skc (22 March 2011)

Boggo said:


> I sold out of EQN today, I "inherited" the shares in EQN last week after they took over CGG which stopped trading after 13/01/11.
> 
> A good example of bad timing I guess, had no access to any shares in either until last week when EQN appeared in my account.
> The profits I had on CGG took a nice hit.
> ...




That sucked...should have shorted it on market and square it off after you got the actual shares...


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## Boggo (22 March 2011)

skc said:


> That sucked...should have shorted it on market and square it off after you got the actual shares...




Yeah, should have.
Silly part was that I knew the takeover was coming, had all the paperwork here and thought that I wouldn't need it as I was going to bail out of CGG, next thing they just stopped trading and I was stuck with the deal.

Effectively I paid $5.936 for each EQN share and sold today for $5.16.

Could have been worse, just bad timing as you see on the chart above and lack of attention on my part.


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## SilverRanger (22 March 2011)

Boggo said:


> Yeah, should have.
> Silly part was that I knew the takeover was coming, had all the paperwork here and thought that I wouldn't need it as I was going to bail out of CGG, next thing they just stopped trading and I was stuck with the deal.
> 
> Effectively I paid $5.936 for each EQN share and sold today for $5.16.
> ...




Agreed with skc, you should have hedged your position as soon as you know your exact entitlement of EQN shares. You can probably earn a few bucks to cover your brokerage from the short


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## skyQuake (4 April 2011)

t/o at *C$7* by Minmentals, conditional on cancellation of EQN taking over Lundin


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## skc (4 April 2011)

skyQuake said:


> t/o at *C$7* by Minmentals, conditional on cancellation of EQN taking over Lundin




Takeovers galore recently in the copper space...

Pciture a small fish, a medium fish and a large fish lining up with mouth wide open...


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## robz7777 (4 April 2011)

Will we see another bid come forward for Equinox? 

Bid is only slightly higher than SP before Lundin takeover was announced..?


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## kingcarmleo (4 April 2011)

minmetals just can't leave our copper alone.


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## thierry (5 April 2011)

Any thoughts on what scenario's could play out here? 

e.g. 
Ludin offer could go ahead and minmetals pulls out -> SP drops
Ludin offer cancelled and minmetals offer rejected -> SP? 
Ludin offer cancelled, minmentals offer accepted -> SP stays.. 

Does anyone know any share price targets for EQN(from brokers etc?) ?


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## skyQuake (5 April 2011)

thierry said:


> Any thoughts on what scenario's could play out here?
> 
> e.g.
> Ludin offer could go ahead and minmetals pulls out -> SP drops
> ...




Broker targets havent been updated, would expect some next week...
The very fact that its trading at a prem to the minmetals bid means that hedge funds expect a higher bid and/or EQN to reject the Bid.
Minmetals has been known in the past to sweeten their bids.
Think Lundin has shrugged off EQN for good.


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## toocool (5 April 2011)

Watching Squak box this moring EQN did the same thing in US (or Canada) not quite sure what exchange its on over there, but the broker was saying it will take a bit of more like $9 to get the take over.

Interesting times, I got stopped out in late Feb @ $6.50


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## thierry (6 April 2011)

interesting times indeed. sold out @ 7.55. 

will see what happens.. from reading articles on the web, it is unlikely a competing bid will come.. which means this could play out for a long time.


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## intoshares333 (6 May 2011)

Equinox takeover by Barrick group is in motion after $7.3 billion dollar offer was put forward.  As a shareholder I received an information pack and a letter from the Barrick group offering to buy my shares for $8.19 CAD (canandian dollars ~ 7.9 AUD). I'm new to investing so I am seeking help as to what I should do. The Equinox board of directors are recommending the shareholders to accept the offer, but I'm hesistant. What are the implications if I choose to decline the offer? I've read part of this info pack, and there is a section about "compulsory acquisition" which I don't understand much about. Does anyone else have shares in Equinox and what are your plans and thoughts about this?


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## rustyheela (14 May 2011)

Im accepting. Excellent premium, was hoping maybe BHP would have a crack but to no avail, but wish it wasnt being taken over coz its been an excellent growth stock and investment for me, having held for 5 years through the ups & downs ( bought more during the GFC  - its always the darkest b4 dawn!!) its one of the largest copper producers in the world to come on line in years and as a pure copper play, thats what i liked about it. Now it got a fair bit of money coming, looking for a home and not sure where to park it!!


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