Article in AFR today about EQN potentially being taken over by Xstrata, First Quantum or Oxifex.
Usually rumour and speculation, but look at ZFX takeover of AGM, made offer just as coming online... wouldn't be surprised if the same happened with EQN.
Flow of positives starting now... takeover speculation because of outstanding assets and cheap share price, commissioning starting, massive mine life of outstanding copper resource at low production costs, UFS due any day now, and I am sure that there will be a tax issues update in the Quarterly report... they will have to disclose something about it in the Quarterly at least, which is due tomorrow I beleive. If that does come out tomorrow and the tax stability program is kept as I have previously posted, then today might be the last day before a massive rerating.
Could be wrong and everyone should do their own research, but the downside is limited now... it has been held down by warrant expiry as well as sell off of the CEO's shares by Merrill Lynch, but it has held firm around $5.
Good luck to all holders! :)
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