copper price - $1.50 for 2nd half 2009, page-8

Well lets put Citi's view in perspective.

Leaves PNA with a margin of approx US 90c/lb, and by then Goldman debt refinanced/cash chest.

Other more marginal miners, eg JML,EQN and KZL would get crippled, there'd be loose assets all over the place. Might not be such a bad thing for a growth seeking, cash manufacturing PNA.

Destroy a lot of marginal prdn, frighten off mosr developments for years, poc would be bound to explode, unless of course this were all due to a GFC part II - does Citi have inside info on a GFC part II ? they certainly did on part I.

EL