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.
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