Cashcost will probably not stabilise until around the March quarter. I would expect copper production be be around 12kt in the December quarter, and probably 13-15kt in the March quarter, depending on grade scheduling. So as long as the project is tracking on commissioning forecasts, and that other development costs are contained, I don't think it should be panic stations. Cashflow, assuming currency and metal prices stabilise, should increase over the next six months.
I make current mkt cap at about $280 million. Obviously there is also a large debt.
angus
PNA Price at posting:
18.9¢ Sentiment: None Disclosure: Not Held