The main reason for the SP falling is the increase in taxes where-
Royalty increase from 0.6% to 3%
Company tax rates increase from 25 to 30%
Possibly a further 15% tax may apply if rate of return is in excess of 8% of capital
Worse still is the possibilty of a Copper windfall tax where revenue above $3.50 lb is taxed at 75% , 50% above $3.00 and 25% above $2.50.
The government has torn up the stability agreement which was the reason why EQN agreed to go ahead and invest in Zambia. This has badly damaged the reputation of Zambia for investment.
opes and eqn, page-11
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Last
24.0¢ |
Change
-0.010(4.00%) |
Mkt cap ! $29.72M | |||
| Open | High | Low | Value | Volume |
| 25.0¢ | 25.0¢ | 21.0¢ | $26.75K | 118.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4761 | 22.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 25.0¢ | 48052 | 2 |
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| Last trade - 15.24pm 04/10/2024 (20 minute delay) ? |
| EQN (ASX) Chart |