EQN - Equinox Minerals

[Gunlom]

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....

 

[It's Snake Pliskin]

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?

 

[Sean K]

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.

 

[It's Snake Pliskin]

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.

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...

 

[Sean K]

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.

 

[tinhat]

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

 

[takestock]

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?

 

[thechap1]

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.

 

[Boggo]

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)

 

[skc]

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)

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

 

[Boggo]

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.

 

[SilverRanger]

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.

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

 

[skyQuake]

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

 

[skc]

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...

 

[robz7777]

Will we see another bid come forward for Equinox?

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

 

[kingcarmleo]

minmetals just can't leave our copper alone.

 

[thierry]

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?) ?

 

[skyQuake]

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?) ?

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.

 

[toocool]

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

 

[thierry]

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.