I wonder if some miners will take out some currency hedging the AUD v USD at these levels? That would protect revenues as the AUD is now 64.5c so even a 2.21 usd price of copper is equivalent to 3.43 in aud terms.
PNA will test 30c big time on Monday. Early to Mid next week maybe my first entry point in PNA around the 20c to 25c mark.
Regards
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- deidre
deidre, page-21
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