Remember that our production costs are $.60 to $.80 a pound, that is pretty darn good when Cu is $2.30. Leaves about $1.50/lb or $3360/ton.
It is also pretty good whatever the price of Cu, because it means that our company can continue operations at a Cu price too low for other miners to contemplate.
Last man standing, so to speak, barring subsidised production.
IMO once the next financials come out we will likely see the beginning of a profitability trend which should weave its' magic on the SP.
Additionally, we may now be seeing the exit of the short term holders ("any profit's a good profit") mumdads and the mopping up of those loose change shares by the likes of AMP or even another instutional investor. Traders will hang around for a while until the get smoked by a couple of nasty shorts.
Of course those instutions might have been playing their games, punching down and mopping up, but when they have had their fill, when they think it is no longer worth the effort, I feel that the SP will trend to stability.
In the meantime, my shares are in the drawer. The bottom one.
$.50 is not in my sights ATM, I'm 'way above that. However if we are having a guessing comp for $.50 can I say August 5th? This year.
PNA Price at posting:
$1.80 Sentiment: LT Buy Disclosure: Held
