I don't think a comparison of a company with coking coal assets can be compared to one with copper.
You should be looking at t/o premiums paid on producing copper assets not coal to begin with. One is a bulk commodity the other base metals. Both command different prices on a NPV basis.
Why is coking coal more valuable than copper? Are you comparing on a per tonne basis? Coking coal fetches aound $220 plus per tonne and copper close to $10,000. This is because of they are completely different products. The global abundance of coal is far greater than copper, meaning copper will naturally command a higher price per tonne.
One other point is RIO never offered the bid that low. The formal takover offer for RIV was at $16.00 per share, representing a 46% premium to one month VWAP. They then ended up offering a 50 cent sweetener or just over 3% increase to bring them to $16.50.
A number of analysts have stated that a fair price for EQN would be between $8-9 per share. I think that is a fair price but I do not want to see my shares go cheap, I then have to research and choose another copper play to gain exposure with.
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Mkt cap ! $32.20M |
Open | High | Low | Value | Volume |
26.0¢ | 26.0¢ | 26.0¢ | $454 | 1.746K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 20000 | 25.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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26.5¢ | 10000 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 20000 | 0.255 |
1 | 40000 | 0.250 |
1 | 15000 | 0.225 |
1 | 9090 | 0.215 |
1 | 28068 | 0.210 |
Price($) | Vol. | No. |
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0.265 | 10000 | 1 |
0.270 | 20000 | 1 |
0.275 | 8951 | 2 |
0.280 | 70000 | 1 |
0.290 | 11610 | 2 |
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