Given the size of the project/reserves and the current price of copper I wouldn't be too distressed if they were to hedge a reasonable amount of the first few years of production. I am pretty heavily into base metal stocks ( CMR,OXR,ZFX ... ), all my holdings are strictly 100% unhedged, so a bit of downside protection with EQN considering the scale of the financing involved wouldn't be a bad thing. I think a clever hedgeing strategy would be view positively by the market at current prices.
EQN could be a great mid-tier mining company holding for the patient. Given the sheer scale of the project I doubt they will stay independent for long after production begins. Too big for the big boys to ignore.
project status, page-4
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Last
25.5¢ |
Change
-0.030(10.5%) |
Mkt cap ! $31.58M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 28.0¢ | 25.5¢ | $113.1K | 425.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 46595 | 25.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 26.0¢ | 50000 | 1 |
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| Last trade - 15.59pm 05/08/2024 (20 minute delay) ? |
| EQN (ASX) Chart |