John ZechnerEquinox MineralsLtd.EQN.TOBUYApr 28, 2008
Not a huge fan of the commodity complex but this is cheap on the basis of the current copper price. There is the risk of Zambia and some of the changes in the legislature right now but thinks this is already accounted for in the stock. Thinks it will get taken out in a couple of years.
He sold a quarter of his position at $7.50, then another quarter yesterday and will sell the rest over the next couple of days. He’s not reinvesting the proceeds back into copper either.
Big resource in Africa where there is a lot of political risks. First Quantum (FM-T) has a stake in this company but doubt if they would be interested in taking it over right now as they have their own problems.
Copper company with operating mine in Colombia and are in the process of bringing it up to full production. Also have some uranium in this mine. Has had a good run and we now need to see copper prices sustained.
Zambia based copper producer. Stock has been improving in the last few days. It gets waterlogged in the mid-$4 range. Owned it for the long term. Doesn’t know how much higher it goes until either it expands its copper asset or the price of copper goes up.
Copper and Uranium. They don’t talk much about their uranium property. They are a growing copper miner and ability to generate reasonable cash flow. Would like to see a bit of a pull back before buying.
Copper as well as uranium in Africa. A little concerned about Copper. Inventories dropped dramatically last year but have built almost back to where they where. Has great growth potential and might even be a takeout candidate. There is still a lot of political risk in Africa and he would be more inclined to look at North American risks instead.