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Gold/Mining/Energy : Copper - analysis
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To: Stephen O who wrote (1809)7/10/2007 10:02:16 AM
From: Cal Gary   of 2131
 
NP says nothing dark about Equinox's African asset

2007-07-10 09:25 ET - In the News

The National Post reports in its Tuesday, July 10, edition that UBS Securities analyst Alec Kodatsky rate Equinox Minerals "buy" in new coverage. The Post's Jonathan Ratner writes in the Trading Desk column that Mr. Kodatsky describes Equinox's 100-per-cent-owned Lumwana copper project in Zambia as a world-class asset. Zambia is politically stable, says Mr. Kodatsky. With production expected in the second quarter of 2008, this makes Equinox a potential takeover target. Mr. Kodatsky targets Equinox stock at $4.75. The stock closed Monday at $4.04. While annual copper-in-concentrate production of 169,000 tonnes is expected in the first six years of the mine's 37-year expected lifespan, Mr. Kodatsky also points out that Lumwana also contains a uranium resource of 21.8 million pounds of U3O8. Expectations are for a uranium facility feasibility study to be completed in the first quarter of 2008. "Equinox owns a number of highly prospective exploration properties in close proximity to the Lumwana plant site, which could justify an eventual expansion of the existing operation," says Mr. Kodatsky. However, the biggest challenge Equinox may face is limited smelting capacity in central Africa.
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