By the looks of it, the copper space might heat up even more in the next 12-18 months.

Now that most majors are starting to have decent valuations, they also have less leverage left.  Copper could go to $4-$5 and their SP might only double from the current levels.

This being said, stocks like Copper Fox still have plenty of upside left and people will be looking for these opportunities shortly if copper continues its climb.  As prices rise, the gap between our market cap and NAV should close and seeing 10 to 15 times your money could still be possible from these levels, but this opportunity could dissapear quickly (or maybe not).  Time will tell, but many signs are pointing in the right direction and I think the worst is behind us.

MoneyK