Copper on kitco.com now down to $1.72 USD, DOW down 300 points, Global markets in turmoil, governments under pressure PNA won't hold up on Monday.
Going on the Sept Qtr report I would be factoring in a market cap of about $150 Million that would bring PNA back to 10.5c absolutely not out of the question in this climate.
Why ANZ did not force PNA to hedge 70% of production 3 months ago when copper was over $3 USD a pound is beyond me. PNA management & ANZ have made a serious mistake in their over confidence that the price of copper would hold up through this mess, and it hasn't.
PNA Price at posting:
17.0¢ Sentiment: Sell Disclosure: Not Held
