Equinox MineralsLtd. (EQN.TO) Buy, Sell or Hold

Equinox MineralsLtd. (EQN.TO)

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COMMENT

In his fund, he has sold everything that has to do with base metals because he strongly believes the US is going into a very, very bad recession. The rest of the world will slow down dramatically. If you think the price of copper will hold here, this is a very good asset.

BUY

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.

COMMENT

Has had a good run. Developing a copper mine in Zambia, which has been in the news for its intention to increase royalties/taxes. Expecting about 400 million pounds and will go into production in Q2. Has been on budget and on time. Expecting a revaluation as they go into production. Expecting a feasibility study by the end of March for a uranium deposit.

BUY

Production is probably within the next year. The stock is extremely strong and is moving up again. There is some supposition that it will be taken out. Has an interesting uranium deposit also. Copper is at its old highs again.

HOLD

The closest thing we have in the world to production in almost any metal. Also has uranium. Could be a takeover.

HOLD

On the copper side this is her choice and it also has a uranium spin also. Expects production in 2008 and thinks the stock will continue to do well through that period. There are rumours that the company may do some sort of off-tick agreement which would crystallize the uranium.

BUY

A Zambian copper play and is obviously in the right spot. Expect the price of copper will continue up and the stock will follow.

TOP PICK

400 million pounds of copper, will make it one of the premier producers out there. Have some fixed priced contracts. Will be a cash flow generator which will bring down their debt which is a bit higher then he would wish.

BUY

Has all his previous negative comments been rectified. The debt is a little high. But they have Uranium up side. Thinks it's going to go higher even after the current spike.

BUY

One of the intermediate copper producers. Metals are into a recovery after their deep correction. Also has some uranium deposits. Could be a takeout. Should go higher.

COMMENT

Recently had a move up again. Recently was down to $3 and was attractive on a trading basis. He is not that bullish on copper as he is starting to see inventories build up. If you are going to be in the metals, this is the kind of stock you want to be in

BUY

On the Zambian side of the copper belt border, so is less vulnerable to the political problems on the Congo side. Strong asset. Seems to have a fairly spicy uranium deposit as well. Thinks it will continue higher.

BUY

Building a mine in Zambia and the stock is trading at 1.5 X earnings based on the current copper prices. Also have some uranium.

HOLD

Should be one of a portfolio’s best junior, not quite producing company. Copper with possibly some uranium assets. If you are a trader, you could sell some to buy back later. Will probably be taken out.

WEAK BUY

Has an uptrend, which is good, but if it can go from 1 to 3, that fast, it can also go from 3 to 1. So if you buy it watch it very carefully. Don't get caught sleeping.

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Equinox MineralsLtd. (EQN.TO)