Pat: Now that Equinox Materials seems to have their new mine/concentrator up and running steadily, I would appreciate your comments on this company as a suitable investment. Thanks.
Equinox Minerals, $1.88, symbol EQN on Toronto (Shares outstanding 685.8 million; Market cap: $1.3 billion), is focused on mining and exploration in Zambia.
Equinox first sold shares to the public at $0.71 each, and began trading on Toronto in June 2004. The Perth, Australia-based company is also listed on the Australian Stock Exchange.
Equinox operates its 100%-owned Lumwana copper mine in Zambia, West Africa. Lumwana began production last December after a fire delayed its start-up for four and a half months.
When it reaches full production by the middle of this year, Lumwana will be one of Africa’s largest copper mines. At full capacity, it will process in excess of 20 million tonnes of ore per year for 37 years. Equinox expects the mine’s operating costs to be around $1.15 U.S. a pound. Copper currently trades around $1.96 U.S. a pound.
There is high-grade uranium mixed in with the copper ore at Lumwana. Last April, Equinox completed a feasibility study for a uranium-treatment…
Privacy Policy and Terms of Use
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Changes to this Policy
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