Out of EQN, PNA and OZL, I would put EQN as the least desirable. Why?
1. C1 cash costs are quite high. Any downturn in copper prices and you potentially have a $6.3B albatross around your neck.
2. Grade is poor when compared to PNA and OZL
3. Sovereign risk. EQN has had a number of issues with power and taxes from the Govt. (So has Aust - We would hope they have learnt!!!!)
The only thing going for it is long mine life and U by-products.
I also know that AM cannot bid for OZL, but really - is RIO his pin-up company cause he is doing exactly the same thing.?
MX, agree with your last post. Well done TB!!
HT1
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Out of EQN, PNA and OZL, I would put EQN as the least desirable....
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