EQN - Equinox Minerals

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....

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?

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.

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.

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 · 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.

tinhat · 4 February 2011

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

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?

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.

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)

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.

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 · 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.

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.

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 · 4 April 2011

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

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...

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..?

kingcarmleo · 4 April 2011

minmetals just can't leave our copper alone.

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?) ?

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
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 · 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

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.

EQN - Equinox Minerals

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