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RESERVOIR MINERALS INC V.RMC

"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."


TSXV:RMC - Post by User

Comment by psj567on Dec 13, 2013 3:44pm
128 Views
Post# 22004678

RE:RE:RE:RE:RMC in Driver's Seat

RE:RE:RE:RE:RMC in Driver's Seatcd673:  In its Q2/2013 earnings conference call presentation, Freeport outlined a 2013 exploration budget of $185 million divided by geographic regions (North America, South America, Africa, Indonesia and Other Areas), with 13% allocated to "Other Areas." For 2014, Freeport's global exploration budget has decreased to $130 million but the share for "Other Areas" has increased to 24%, or $31.2 million. At the 6/24/13 NYC Investor Conference, Freeport presented a slide outlining its worldwide exploration program. The only greenfield project listed on the slide and the only project that would fall into the "Other Areas" category is Serbia.It should be noted that this public guidance by Freeport matches up with PM Dacic's comments that Freeport indicated to him it wanted to significantly increase its spending in Serbia in 2014. I used the figure $20-25 million in my prior post to be conservative. I hope that answers your question. IMO, Freeport intends on drilling Timok agressively in 2014.
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