Post by
templetooth2 on Mar 29, 2023 8:18pm
Equinox gone!!!
Probably the most significant news in the last 6 months.
This stock is now back in the land of the living, rather than the purgatory of waiting for the 7.5 million share dump. Equinox must be having a b. of a time with inflationary pressures at Millstone project in order for their plans and promises to change so quickly since their offload of $70 million worth of SLS not so long ago.
I was doing a very quick calculation of price per pound of copper. With 156 million shares out, at $6 per share, you have a market cap of $936 Million Cdn. or US$693. By my rough, very rough calculation, we have 1,200 million tonnes of resources at .5% recoverable CuEq or 11 pounds of Cu per tonne.
1200 M tonnes X 11 lb per = 13,200,000,000 pounds. Call it 13 Billion pounds divided by 156 million shares gives you 83 pounds per share. At $6 per share, 7.3 Cdn cents per lb or US 5.4 cents per lb.
I was reading that Lundin paid 29 cents per lb for Caserones at 4500 ft elevatioin in the Andes, according to CIBC as posted by retiredcf. Mind you, that's a producing mine. But it illustrates there's a small smidgeon of room for this sucker to soar!!!!