I would seriously doubt RIO will try to move on EQN given that the latest production figures had our cash cost up to $2 per pound. Based on these figures this is not a Tier 1 asset, despite the cries from many posters that Lumwana is the best thing since sliced bread.
Lumwana is now relatively high cash cost, albeit with a massive mine life and significant production tonnes.
I also thought MMG would not have put foward a bid with all the money intended, allowing a 20% sweetener in the case of a rival bid. Which has now happened.
The annoying thing is I now have to find another copper investment that I think is at good value.
What are others looking to do with the cash? Re-invest in which companies?
barrick offer c$8.15, page-24
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Last
26.0¢ |
Change
0.005(1.96%) |
Mkt cap ! $32.20M | |||
| Open | High | Low | Value | Volume |
| 25.0¢ | 26.0¢ | 25.0¢ | $18.36K | 72.45K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 47481 | 24.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 26.0¢ | 44467 | 2 |
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| Last trade - 15.32pm 16/08/2024 (20 minute delay) ? |
| EQN (ASX) Chart |