Freeport answerI received an answer to my email from Freeport. It was very vague (see below). I quoted 11.6 million when it was really 12.6 million spent in 2013 with Reservoir. Since I’m in the ball park it sounds like they will be spending about the same amount in Serbia again in 2014. What we do not know is how much is with Reservoir and maybe some other project(s) in Serbia. Since they spent 24 million on other areas in 2013 we are not positive it is all with Reservoir or even all in Serbia for that matter. Serbia is the only one they showed in the July presentation but has since been pulled. We should know a lot by the end of the month if Freeport comes through with the budget and 2013 drilling results.
” The early results from the Timok greenfield project in Serbia have been positive and we are continuing to do exploration work in the area. The 2013 budget amounts you have cited below are in the ballpark, and we expect to spend a similar amount on exploration in Serbia in 2014. Beyond estimated spending levels, we have not provided any additional details on this project in our disclosures. If the project becomes more material to our company in the future, we will be prepared to provide additional details at that point. Thank you for your interest in FCX”.