EQUINOX MINERALS LIMITED (Symbol-EQN)

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dakota
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EQUINOX MINERALS LIMITED (Symbol-EQN)

Post by dakota »

Equinox Signs 5-Year Agreements With Mopani and Glencore for Balance of Lumwana Concentrate
Jul 18, 2007 - 09:31

TORONTO (CCNMatthews) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Equinox Minerals Limited (TSX:EQN)(ASX:EQN) ("Equinox" or the "Company") is pleased to report that its wholly owned subsidiary Lumwana Mining Company Limited ("LMC") has signed Concentrate Sale and Purchase Agreements (the "Agreements") with Mopani Copper Mines Plc ("Mopani") and Glencore International AG ("Glencore") for a total minimum contractual "take and pay" tonnage of 600,000 dry metric tonnes ("dmt") of Lumwana copper concentrates. The Agreements also grant Glencore a first option right to process further additional annual quantities of Lumwana copper concentrates determined as the difference between the current LMC scheduled production, less the base Agreement commitments above, and less LMC's commitments to Chambishi Copper Smelter (refer to Equinox announcement dated February 15, 2007). Any optional quantity will be distributed and treated between Mopani and Glencore in the proportions specified below.

This represents the balance of concentrates for the initial 5 years based on the scheduled production of the Lumwana Copper Project concentrator currently under construction.

The 5-year Agreements will commence from the start of LMC's production scheduled to commence in mid 2008 and combined, carry total base commitments of 120,000 dmt of copper concentrates (containing approximately 53,000 tonnes of copper metal) annually. The contracted commitments will be distributed 66.7% delivery to Mopani (for toll treatment at the Mufulira smelter) and 33.3% delivery to Glencore for trading. The Agreements will charge LMC copper treatment and refining charges ("TCRC's") to be determined annually based on global benchmark terms (refer to the October 2006 Technical Report for details of Lumwana concentrate).

Glencore is a privately held company owned by its management and employees. Headquartered in Baar, Switzerland, Glencore is one of the world's largest suppliers of a wide range of commodities and raw materials to industrial consumers and counterpart commercial producers.

Mopani is a joint venture company controlled by Glencore (73.1%). The other shareholders are First Quantum Minerals Ltd. (16.9%) and Zambian Consolidated Copper Mines Limited (10%). Mopani is an integrated copper and cobalt producer located in the Copperbelt of Zambia operating the Mufulira mine, smelter and copper refinery and the Nkana mine and cobalt plant. Current capacity of the Mufulira Copper Smelter is 800,000 tons per year of concentrate.

Lumwana, owned 100% by Equinox, is located in the North Western Province of the Republic of Zambia. The Lumwana mine will produce an average of 169,000 tonnes of copper metal per year contained in concentrates for the first 6 years of its 37 year mine life. Construction remains on schedule for commissioning in Q2 2008.

Commenting, Craig Williams, Equinox President and CEO said: "These Agreements complete the placement of 100% of the current LMC scheduled production into firm off take agreements, meet yet another key milestone to project financing and secure Equinox's presence in a growing and stable part of southern and central Africa."

Soon the money will be rolling in :)
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Post by arthur »

Yup, as soon as there is money, Zambia will nationalise it.
You want the truth, you want the truth, you can't handle the truth.

The masses have never thirsted for the truth, whoever supplies them with illusions is their master, whoever supplies them with the truth, their victim.

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Post by dakota »

arthur wrote:Yup, as soon as there is money, Zambia will nationalise it.
They keep you informed do they? :roll:
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Post by arthur »

The lessons of history are that they are bound to repeat themselves.
You want the truth, you want the truth, you can't handle the truth.

The masses have never thirsted for the truth, whoever supplies them with illusions is their master, whoever supplies them with the truth, their victim.

If you do not risk anything , you risk even more. Jong
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Post by dakota »

arthur wrote:The lessons of history are that they are bound to repeat themselves.
Governments change all the time, I have more faith in the knowledge of the people that are operating the project than I have in yours.
A fool and his money are lucky to get togethere in the first place
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Post by arthur »

Talk to me a year from now, I will not invest in any area where politics can confiscate my holdings, I am exiting ALL my LA mining shares, I will stay close to home.

Zambia used to be called ???
You want the truth, you want the truth, you can't handle the truth.

The masses have never thirsted for the truth, whoever supplies them with illusions is their master, whoever supplies them with the truth, their victim.

If you do not risk anything , you risk even more. Jong
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Post by 2 yen »

Interesting to see the miners riot in Peru (I think) on TV yesterday. They
obviously don't want nationalization as they know the gov't picked operators will be useless. My sell order is in for EQN at $6. A bird in the hand......
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Post by dakota »

My sell order is in for EQN at $6. A bird in the hand......
You may not have to wait too long....
A fool and his money are lucky to get togethere in the first place
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Post by dakota »

arthur wrote:Talk to me a year from now, I will not invest in any area where politics can confiscate my holdings, I am exiting ALL my LA mining shares, I will stay close to home.

Zambia used to be called ???
I already have my initial investment back so I'm only working with the profits already gained.

I don't need you to tell me how and where to invest, I know a hell of alot more than you about where to invest and where not to! I don't have to buy mutual funds to do it for me, like you do!! :roll:
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Post by arthur »

Nope, dakota, WRONG as usual, I have NO MUTUAL FUNDS, so why don't you check your facts before you put your mouth in motion.

you are starting to irritate me, but you're Dutch, that says it all.

Wooden shoes, wooden head, wouldn't listen. :roll:
You want the truth, you want the truth, you can't handle the truth.

The masses have never thirsted for the truth, whoever supplies them with illusions is their master, whoever supplies them with the truth, their victim.

If you do not risk anything , you risk even more. Jong
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Post by dakota »

arthur wrote:Nope, dakota, WRONG as usual, I have NO MUTUAL FUNDS, so why don't you check your facts before you put your mouth in motion.

you are starting to irritate me, but you're Dutch, that says it all.

Wooden shoes, wooden head, wouldn't listen. :roll:
arthur
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Posted: Sun Apr 15, 2007 3:34 pm Post subject:

--------------------------------------------------------------------------------

I'll try stockhouse tomorrow,not much on their today, but I am now in the camp of letting Fund Managers kick these tyres but I may play a few if I get something that I hear and like, for the fun of it.


So you were lying then??
Last edited by dakota on 20 Jul 2007 14:28, edited 1 time in total.
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Post by ModeratorZ »

arthur wrote:Nope, dakota, WRONG as usual, I have NO MUTUAL FUNDS, so why don't you check your facts before you put your mouth in motion.

you are starting to irritate me, but you're Dutch, that says it all.

Wooden shoes, wooden head, wouldn't listen. :roll:
Knock it off.
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Post by arthur »

I MAY PLAY

MAY is the operative word.

Mike, people should be able to disagree without your heavy hand.
You want the truth, you want the truth, you can't handle the truth.

The masses have never thirsted for the truth, whoever supplies them with illusions is their master, whoever supplies them with the truth, their victim.

If you do not risk anything , you risk even more. Jong
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Post by dakota »

Equinox Minerals Limited: Uranium Feasibility Infill Drilling Confirms High Grade Uranium Mineralization at Lumwana
Nov 14, 2007 - 11:00

TORONTO (Marketwire) -
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Equinox Minerals Limited (TSX:EQN)(ASX:EQN) ("Equinox" or the "Company") is pleased to report that the Company's Uranium Feasibility Study ("UFS") infill drilling program at its Lumwana Project in the Northwestern Province of Zambia has further defined and confirmed discrete zones of high grade uranium mineralization within the larger Malundwe copper ore body currently being mined as part of the Lumwana Copper Project development. Intercepts of note include 17 meters of 0.56% U3O8 (hole MLW0062), 11 meters of 0.75% U3O8 (hole MLW0159), 6 meters of 1.41% U3O8 (hole MLW0192) and 2 metres of 2.56%U3O8 (hole MLW0115).

The Malundwe deposit hosts significant uranium mineralization along the central portion of the copper ore body's western flank, primarily within two discrete uranium mineralized bodies. The purpose of the UFS drilling program is to upgrade the previously defined Malundwe "Indicated and Inferred" uranium resources (see press release dated May 02, 2005 available on the Company's website) to an "Indicated and Measured" status. Equinox has completed an intensive infill drill program comprising a total of 158 reverse circulation (RC) percussion drill holes and 12 PQ diamond holes spread along the 2km strike length of mineralization (Figure 1). With the inclusion of the pre-existing drill holes, most of the uranium resource within Malundwe is now defined by 50m x 50m spacing, with the exception of some areas of higher grade uranium mineralization which have been drilled on a 25m x 25m spacing. Of the 170 holes drilled, 135 intersected uranium mineralisation of greater than 200ppm U3O8.

Logging has been undertaken by geology, scintillometer and gamma probe to ensure all uranium intercepts were identified. Uranium occurs almost exclusively as uraninite, varying from coarse aggregates of up to 3cm long to finer grained disseminations. Quantification of the uranium content has been achieved by chemical assay of 14,183, one meter samples, with sample collection commencing four meters above the first detected uranium (by scintillometer) in any given hole, to the end of the hole. Table 1 below presents significant intercepts (greater than 3,000ppm U3O8) encountered in the second phase of the resource program (the first phase was reported in the press release dated July 24, 2007 available on the Company's website). A complete table of all uranium intercepts to date within the Malundwe ore body that exceed 200ppm U3O8 can be found on the Company's web site filed with this press release.

The uranium mineralization preferentially lies associated with the hangingwall and footwall contacts of the Malundwe copper sulphide ore body, and significantly, also extends into the footwall suite of rocks that are barren of copper. The remainder of the Malundwe copper sulphide orebody does not contain any significant uranium mineralization and typically has a low uranium background of less than 10ppm U3O8.



Table 1: Significant Uranium Drill Intercepts at Malundwe
(intercepts greater than 3,000ppm U3O8)

--------------------------------------------------------------------------------
HOLE EAST NORTH RL FROM TO Width U3O8 U3O8 Au Cu Depth
(m) (m) (m) (%)(kg/t)(g/t) (%) below
Surface

--------------------------------------------------------------------------------
MLW0009 370966 8646650 1274.9 93 95 2 0.75 7.55 0.73 2.87 93

--------------------------------------------------------------------------------
MLW0011 370913 8646650 1273.4 85 88 3 0.54 5.39 0.48 1.36 85

--------------------------------------------------------------------------------
MLW0016 370989 8646753 1280.8 77 86 9 0.34 3.44 0.34 1.4 77

--------------------------------------------------------------------------------
MLW0020 370893 8646751 1277.4 66 67 1 1.29 12.85 0.25 0.45 66

--------------------------------------------------------------------------------
And 72 80 8 0.78 7.78 0.38 1.05 72

--------------------------------------------------------------------------------
MLW0040 371111 8646950 1295.0 75 76 1 1.41 14.09 0.12 1.99 75

--------------------------------------------------------------------------------
MLW0062 370843 8647050 1288.7 10 27 17 0.56 5.57 0.58 1.31 10

--------------------------------------------------------------------------------
MLW0063 370809 8647050 1290.7 11 13 2 0.38 3.82 0.47 0.71 11

--------------------------------------------------------------------------------
MLW0068 370805 8647101 1294.0 16 18 2 0.32 3.19 0.49 2.38 16

--------------------------------------------------------------------------------
And 23 24 1 0.71 7.05 0.21 0.68 23

--------------------------------------------------------------------------------
MLW0075 370842 8647149 1295.6 21 22 1 1.44 14.44 0.23 1.62 21

--------------------------------------------------------------------------------
MLW0080 370801 8647201 1300.9 42 44 2 0.72 7.20 0.16 0.72 42

--------------------------------------------------------------------------------
MLW0084 370813 8647249 1302.9 50 56 6 0.36 3.61 0.37 0.91 50

--------------------------------------------------------------------------------
MLW0088 370795 8647300 1307.5 66 75 9 0.51 5.06 0.35 0.34 66

--------------------------------------------------------------------------------
MLW0094 371062 8647398 1320.6 75 76 1 0.47 4.69 0.15 1.42 75

--------------------------------------------------------------------------------
MLW0111 370949 8647551 1323.5 92 94 2 0.40 4.00 n/a 0.03 92

--------------------------------------------------------------------------------
MLW0115 370952 8647602 1326.9 81 83 2 2.56 25.61 0.08 1.01 81

--------------------------------------------------------------------------------
MLW0119 371011 8647651 1331.6 79 82 3 2.11 21.12 n/a 0.02 79

--------------------------------------------------------------------------------
MLW0159 370957 8648221 1335.4 67 78 11 0.75 7.54 0.17 1.18 67

--------------------------------------------------------------------------------
MLW0191 370930 8648257 1334.5 72 77 5 1.20 11.97 0.22 1.82 72

--------------------------------------------------------------------------------
MLW0192 370861 8647001 1287.1 24 30 6 1.41 14.07 1.75 2 24

--------------------------------------------------------------------------------
MLW0194 370943 8648194 1335.0 63 65 2 0.88 8.78 0.26 0.64 63

--------------------------------------------------------------------------------
MLW0200 370890 8646703 1275.6 81 82 1 0.40 3.99 0.41 2.22 81

--------------------------------------------------------------------------------
MLW0201 370851 8646752 1276.1 61 63 2 1.66 16.62 0.69 1.3 61

--------------------------------------------------------------------------------
MLW0204 370871 8646856 1281.0 47 49 2 0.40 4.04 0.29 0.75 47

--------------------------------------------------------------------------------
MLW0210 370866 8647298 1303.8 50 51 1 0.45 4.49 0.38 1.8 50

--------------------------------------------------------------------------------
NOTE: All holes were drilled -80 degrees/090 degrees except MLW0159 and
MLW0201 which were drilled -80 degrees/270 degrees;
Intercept thickness approximates true thickness (except for MLW0159
and MLW0201);
Cut off grade of 200ppm U3O8 applied, but only intercepts greater
than 3,000ppm U3O8 shown on this table; and
Refer to the Company website for a full table of results applying a
200ppm U3O8 cut-off.


SRK Consulting is currently undertaking the uranium resource estimate of Malundwe and Golder Associates Pty Ltd. will apply economic and mining factors to identify the mining reserve for the UFS, which is expected to be completed by the end of Q1-2008.

Commenting on the UFS drill results, Craig Williams, Equinox President and CEO said "the UFS infill drill program has provided the confidence required to fully evaluate and define the discrete, high grade uranium zones associated with the Malundwe copper orebody. We are encouraged that the ongoing UFS will support a viable development plan to extract a uranium by-product as part of Lumwana copper mine that is now at an advanced stage of construction".

On Behalf of the Board of Directors of Equinox:

Craig R. Williams - President & Chief Executive Officer

For information on Equinox and technical details on the Lumwana Project please refer to the company website at www.equinoxminerals.com.
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Post by cashew »

I'm wondering what people think about EQN nowadays. Pretty soon they'll be in production. I've got some money I can afford to lose, so I've been accumulating this past week. Down right now, but hoping for a big relief rally.
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Post by cashew »

:D :D

that's been a wild ride past couple of weeks and i'm down more but still holding on. i'm thinking if a global recession hits, China will need to spend to keep social unrest down. lottsa electricity and indoor plumbing.

make a lot of poor people happy
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Post by Springbok »

cashew wrote::D :D

that's been a wild ride past couple of weeks and i'm down more but still holding on. i'm thinking if a global recession hits, China will need to spend to keep social unrest down. lottsa electricity and indoor plumbing.

make a lot of poor people happy
I still have 8000 shares. I bought shares and warrants very early on and because I sold some warrants and tendered others, without some work don't really know what my cost is (hold this in my RRSP). But it is not very much, so the $1.50 current price doesn't bother me too much.

A couple of investment houses downgraded their estimates, but they are still in the $2.75-$5.00 range. Other copper miners like FM might be a better buy, but I think EQN is still a good hold if you are patient.
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Post by cashew »

Brick and mortar projects in Asia
You're going to see hundreds of billions of dollars worth of fiscal spending initiatives announced across Asia in the next two quarters,'' said Tim Mercer, chief investment manager of Hong Kong-based hedge fund Musashi Capital Ltd. ``The majority of this will be in infrastructure and bricks and mortar projects. This will be supportive of commodity prices.

http://www.bloomberg.com/apps/news?pid= ... ommodities
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Post by cashew »

China's manufacturing sector's getting hit hard. More spending on infrastucture. Type of thing that I think will help copper.
China's cabinet has pledged extra infrastructure spending to stimulate the world's fourth-biggest economy amid the global slowdown. The government has already lowered rates three times in the past two months, increased export rebates and cut property transaction taxes.
http://www.bloomberg.com/apps/news?pid= ... refer=home
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Post by 2 yen »

Cashew...sure hope you're right. I own a large chunk of Moly Mines and they need China to even get the new mine opened next year. I'm gambling that hundeds of millions of Chinese who haven't entered the middle class, still want to. It would have to be a domestic consumption driven expansion, though, less reliant on western markets than in the past.
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Post by cashew »

I agree. Must have been a lot of social change happening in these countries over the past decade. A lot of momentum for growth.
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