Copper is under US$1.40 per pound. That's all that counts at the moment & it's not good for PNA. They might survive at that level, but the risk is that copper falls even further, taking PNA over the edge. PNA (total) costs estimated (refer latest broker report) to be $1.25 when in steady state. That includes development & interest payments but doesn't include capital repayment. Can you see the problem?
pna, page-5
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