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Hi El,

We need higher copper prices and not one that keeps falling, PNA like any other miner needs to make a profit at the end of the day.

They have debt to service and they have still exploration expenses that eat into the bottom line.

As i have said in one of my previous posts we need a turn around in copper prices because PNA and many others can not keep operating at todays small margins especially when they have to service such a high debt.

Many analysts have rated copper of the best performing base metal, once we see a turn in the economical growth prospects.

So from that perspective we look fine with PNA and ofcourse the gold credits will do wonders when the copper price lingers.

But at the end of the day we need also for PNA a copper price that is going to be higher otherwise i see dark clouds on the horizon.

We need to see PNA able to make a QTR profit otherwise this one will also just be a name of the past.

I certainly hope this will happen as I am a holder of PNA and at much higher levels then todays shareprice.

But we are now in no mans land we have a situation where you and I have never dealt with before and I could be wrong but if the tide does not turn soon, we will see a blood bath in the aussie miners and heaps of them will go belly up.

On the other side if thing do turn out for the better then PNA will be in a great postition.

time will tell

jojo