RE:RE:RE:Thoughts on con call?You might be right about not being close to a resolution. Raising money made it easier for Reservoir to negotiate there end of the operating agreement but with a resource estimate out it might be more difficult to negotiate with the Serbian goverment (a great reason to stop drilling and proving up more resources). It is staright forward that it is 15% taxes and 5% net smelter royalty but the kicker is can you get them to agree to a 30 freeze on these fees and taxes. Freeport has experience with goverments changing the rules down the road.
One positive is that Freeport can only go so long without drilling or they will be in default with the JV.
One thing for sure is that Shareholders and would be buyers did not take the current news as positive based on the stock action. We really need to get the agreements done and get back to drilling. I'm sure glad we have a drill bit that will be turning this summer otherwise this could have been a long hurry up and wait summer with nothing else going on.