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Antofagasta: Recommendation downgraded to SELL

October 19, 2012, Friday, 12:45 GMT | 07:45 EST | 16:15 IST | 18:45 SGT
Contributed by Fox-Davies Capital


Fox-Davies has remodelled parts of the Antofagast model to allow for higher capital expenditures at both El Tesoro and Michilla, and the throughput rate has been increased marginally at Esperanza.

The only other changes made in the model were some minor adjustments to depreciation to allow for the higher capital expenditures.

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