take over in the winds

Hi everyone,

With the recent market manipulation pushing the share price lower we can have the beginning of a take-over in play.

Looking at the 45 million shares traded in Toronto last night, could be another indication that next week will give us some fire works.

I have always been saying that this company is very much a take-over target and maybe the time has now arrived.

The following article gives even more amunition for the take-over scenario.

good luck to all holders and if EQN has to go lets hope it will be for nothing less then $10 per share.

jojo


Is the Ox eyeing Equinox?
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Friday, November 23, 2007
Kate Haycock

AN OXIANA and Zinifex merger has been rumoured for months now, but could Oxiana be considering a takeover play for emerging copper miner Equinox Minerals instead?

Oxiana is rumoured to be considering a bid for Equinox, which is rapidly progressing its substantial Lumwana copper project in Zambia into production.

Oxiana managing director Owen Hegarty has not been shy about his expansion plans for the company, which have so far focused on Australia and the Asia Pacific.

The company's flagship operations include the Sepon gold and copper project in Laos and the Golden Grove copper-zinc-gold and silver mine in Western Australia.

These combined operations are expected to produce up to 78,000 tonnes of copper, 150,000t zinc, and up to 65,000oz of gold.

The Melbourne-based mid-tier miner is also bringing the Prominent Hill project online, with production expected to start next year. In its first full year of production, Prominent Hill is expected to produce 117,000t of copper, 86,000oz gold and 390,000oz of silver.

Equinox's Lumwana project, due to come online in the second quarter of 2008, has a production rate target of 169,000t of copper concentrates a year for the first six years, and a planned mine life of 37 years.

The project is the largest single foreign investment in the African nation of Zambia, and once it reaches targeted production will be a substantial copper producer. Equinox is also looking at establishing uranium production from the mine.

However, dual-listed Equinox would not be a cheap buy: the company's market capitalisation in Australia is $2.72 billion, while on the Toronto Stock Exchange it has a market cap of $C2.38 billion ($A2.77 billion).

Oxiana has a market cap of around $A5.48 billion on the ASX.

Equinox would be a new foray for Oxiana beyond its Asia-Pacific focus. Previously, the Ox has been linked with zinc miner Zinifex, but a deal between the two has yet to materialise.

Equinox managing director Craig Williams was not available for comment this morning.

Shares in the company were last trading at $4.81, down 16c, while Oxiana was last at $3.57, up 5c.