hi jojo,
I'm a long term holder and sometimes trader in EQN but am not particularly concerned about the shareprice. This is a typical market correction imo and if it's not over yet, will be over soon. Plus a takeover discount so we've got a double hit.
The more articles that I'm reading, the more comfortable I'm getting with the debt in this deal. I agree - EQN has astute and highly competent management.
My concern is with Lundin itself. I'm in EQN because it's a copper company and there are a lot of non-copper base metal projects in the Lundin portfolio, particularly in Ireland and Sweden. Although perhaps these might be divested if the takeover is successful? I also have avoided DRC in the past which is my one and only ethical stand in my portfolio.
I like the Citadel deal. My thoughts are that they could have done better for a followup deal - perhaps with an asian or south american copper company or project. But then these guys live and breathe mining and know all the companies and projects, so are obviously seeing value that I don't see. Or perhaps moving to be a more diversified miner which I would prefer not to happen. I didn't buy EQN for zinc and nickel, obviously.
Anyhow, it's early days and this takeover could go either way so I shall watch with interest and perhaps pick up even more shares as this has provided a good buying opp imo.
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Last
28.0¢ |
Change
-0.010(3.45%) |
Mkt cap ! $34.67M |
Open | High | Low | Value | Volume |
29.0¢ | 29.5¢ | 28.0¢ | $74.80K | 261.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 27.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
28.0¢ | 31 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 0.275 |
2 | 17000 | 0.270 |
2 | 30000 | 0.265 |
3 | 77661 | 0.260 |
1 | 24869 | 0.250 |
Price($) | Vol. | No. |
---|---|---|
0.280 | 31 | 1 |
0.285 | 8454 | 2 |
0.290 | 37520 | 2 |
0.295 | 20000 | 1 |
0.300 | 50000 | 1 |
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