pna share price vs gold/copper correlation

It's a well nown fact that resource stocks rise and fall withj the price of commodities. However there seems to be a different crrelation of the proce of CCu to say mid range miners like PNA's Share price.

For instance CU price was down just 0.33% overnight yet PNA SP decliuned 3.2%. This is nearly 10 times the fall of Cu! Let's throw in Gold's price of 0.1% fall overnight and it's a compelling argumant that PNA does not correlate directly to the movements of the spot market rather it does but by a bigger factor.

The crazy thing for me, based on Commsec Commodities (which I've never trusted)is that as of the afternoon update, Cu was up $19/ton or .2%. Based on this PNA'a SP should have come back in the afternoon but did the opposite until after the bell!

I know it's not all about the CU price and world events and general sentiment add a lot to the mix. However, PNA seems to be one of the most sensitive Copper stocks with regard Cu price correlation.

Does anyone agree and if so why? Every time Cu drops it seems PNA is oversold!
Cheers
Dave