it will break 26.5 today, page-12

Stowaway, its a given that Insto's are not going to use the current spot price of copper for their valuations on PNA so you don't need hard proof just a bit of common sense.

In addition remember PNA make a copper concentrate not copper metal so PNA would not be getting the LME price but a discounted price probably around 15% to the spot price.

I'm factoring in a 25% fall in the price of copper so that would give us a price around $1.50 to $1.60 USD per pound.

I will find some info and post it on this thread a bit later.