We have attacked the $4.70-80 level 4-5times so far and on Friday finally broke through and closed on $4.78. Have we finally broken upwards or do people expect another pullback?
With copper going up 2% on LME on Friday night, this might finally be the real breakout.
The quarterly announced increased production despite the mine water problems a couple of months ago.
I've had a feeling this has been held back as some accumulation was happening, especially with the lower $Aus, and copper prices stabilising to going up, now still around A$3.50/lb. Gold still at A$1500/oz.
The recent refinancing didn't hurt either.
Breakout?
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