FCX's Public Guidance Re Serbia 2014 Exploration BudgetAs I posted on December 13, 2013 and explained the basis for in a second post on the same day, based on its public disclosures and guidance, Freeport has budgeted $20-25 million for exploration in Serbia for 2014. It is highly unlikely that any of it is going to be spent for any reason other than advancing Timok. Respecting Timok's materiality to FCX, look for a materiality disclosure by FCX in the first half of 2014. It has no other option under applicable SEC disclosure rules.