Out of EQN, PNA and OZL, I would put EQN as the least desirable....

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