This one certainly did not stick to the script as tightly as one might expect, but not too many alternatives are available. It went right down to the max. of $13 but now seems poised to go higher with new agreements between the Chinese ( Mongolian) government, Rio Tinto etc. etc. See previous blogs. To some extent this mine should be quite insensitive to the price of copper itself, it is that big and the costs are that low.
The alternative,with low probability, would be consistent with the TSX as a whole and would consist of a series of 1-2 (with irregular corrections as wave 2). In that scenario the stock should not trade above $23 (overlap).