spp, page-18

I like your optimism jxscul, but I'm not convinced a stockmarket recovery is imminent just yet.

Employment numbers last night were horrible, and there are no firm signs the US housing market is heading in the right direction yet. In short, the economic indicators aren't telling us just how deep this recession will be, and until we know, I'm not prepared to say the price of copper has stabilised.

Why do you think US$1.30 for copper is significant jxscul? If PNA's cost of production is under US$0.90, surely they can survive (but not prosper admittedly) POC in the US$1.10 - 1.30 range?

Agree with your comments about the refinancing, though I suppose when margins are tight it helps if refinancing can be completed under more favourable terms. Gives them more cash to bring BH online! ;-)