UP 9.5% in Canada overnight! Wow.... Volume was double normal as well.
Its on takeover rumours, from CS report:
http://www.bloomberg.com/apps/news?pid=206...mg&refer=canada
From the link:
First Quantum, Equinox's largest shareholder, could pay as much as A$3.7 billion ($3.5 billion) for the 82.7 percent holding it doesn't already own, the report said.
From my quick calcs that values EQN at $7.60 per share or so!!!!
Was always going to happen with the size and mine life of Lumwana with the share price down on temporary weakness.
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