As we all know, PNA (like OZL) has substantial Gold reserves that help to keep C1 cash costs at the lower end of the cost curve for copper.
The article below suggests that Gold has a way to run that will help PNA (and OZL).
http://thebull.com.au/articles/a/14736-gold-stock-record-highs.html
It is long - but well argued.
HT1
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