News

April 17, 2008

Equinox Will Soon Have The Largest Producing Copper Mine in Africa, Not To Mention A $1.5bn Uranium Stockpile

By Our Man in Oz

Try as he might Minesite’s Man in Oz cannot see Craig Williams, chief executive of Equinox Minerals, sitting for long on top of the world’s most valuable waste dump. That’s why the dual-listed Australian and Canadian company, with its flagship asset in Zambia, will press the “go” button later this year on the uranium phase of its Lumwana project. All that’s needed is a clear set of laws from the Zambian government and Equinox will not only be ranked as one of the world’s biggest copper producers, but also as one of the biggest uranium producers, a combination which should be of immense appeal to investors, and predators alike. Little wonder that since the start of 2007 the Equinox share price has been marching north, starting at A$2, rushing up to A$7, and now nestling at around A$5. That’s roughly the same price paid by the first raider on the Equinox share register, First Quantum, late last year.

It’s First Quantum’s 17.27 per cent stake in Equinox, as much as the uranium phase of Lumwana, which ought to have everyone interested in mining dusting off their Equinox file, as the company gets down to the business end of a 10 year odyssey in Africa. From being a company regarded as something of a curiosity when it moved early to secure an asset position before the resources boom took hold, Equinox today is in a near-priceless position, poised to play a starring role in the minerals world....