Stockchase Opinions

Alexander Lane, B Comm, CEquinox MineralsLtd.EQN.TOBUYJun 29, 2009

Copper in Zambia. One of the best global plays in copper. Expect it will be acquired.
$2.84

Stock price when the opinion was issued

metal mines
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PAST TOP PICK
(A Top Pick June 9/10. Up 122.13%.) Sold his holdings in the $5 range at a profit.
SELL
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.
COMMENT
Chinese will probably have to pay more if they want to acquire them and the stock price is confirming this. They want long life reserve assets.
WAIT
Wants to be careful in the basic materials over the next couple of months. Wait for the stock to break out. See what happens at Chinese New Year.
DON'T BUY
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.
BUY
Ranks 53 in his model. ROE for 2011 is 52%. Free cash flow of 8%. PE for 2011 is 8 times.
WAIT
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.
BUY
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.
BUY
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.
TOP PICK
It’s at support. It could be a potential take-over target and this will provide some support also. Leveraged to copper play.
DON'T BUY
Copper is good. But he has stayed away from this because of political risk.
HOLD
Copper looks good from here. It’s at least going to hold firm from here. Try to find someone whose production is ramping up.
BUY
This is a big copper producer coming on in Zambia. Also has a uranium deposit. Could be a takeover candidate.
SELL
(Market Call Minute.) Continue to have operational problems.
DON'T BUY
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.