Shocking day for PNA as it finishes on its low at 18c down 16.28% on the one key announcement that all share holders have been hanging out for the Set Qtr Report.
IMO PNA is too dangerous to enter until the price of copper stabilizes and finds support and the global economies find the bottom of this massive sell down, neither will happen any time soon, its a long road ahead.
PNA's $300 Million market Cap looks over inflated to me even if costs are contained the falling price of copper will put the squeeze on PNA big time.
I am factoring in a market cap of $100 to $150 million that would mean PNA may come back to 10.5c, not out of the question if copper pulls back to the $1.50 mark I've been talking about.
All this rubbish about BHP being interested in PNA, you have got to be joking umpire. BHP are going after RIO do you think they will spend a minute even thinking about a low grade operation in Laos, dream on.
Rough ride ahead, the facts are in the Sep qtr report. Have your fingers and toes crossed as if it's a down night tonight then sell pressure will be massive on monday.
Can't believe so many of you have watched this stock fall from its highs of $1.25, buying all the way down, just feeding the insto's as they were heading for the exists.
PNA Price at posting:
17.0¢ Sentiment: Sell Disclosure: Not Held
