Well folks and ewes, I did warn last week that many brokers would likely have waited for the first project startup derisked quarterly before putting out there buy recommendations. No suprise to see the more cautious coming in now the first really positive QR is out of the way.
40 really is not expensive if everything continues to go closely to plan and poc holds closer to 200 than 150
Remember also the aussie producers costs afflicted by the $A rise eating the poc rise, not us though. Also our debt in USD.
Lots of pluses with holding this one as your copper stock, and then if the pog takes off even better. Remember also if the poo rises again we don't rely on diesel for our power gen. Quite a few inherent hedges.
EL
PNA Price at posting:
36.9¢ Sentiment: LT Buy Disclosure: Held