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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

Post by guiltedge1on Jun 10, 2014 7:51pm
219 Views
Post# 22647510

Freeport withdraws from a copper JV

Freeport withdraws from a copper JVFreeport withdraws from a copper JV: “Freeport-McMoran’s withdrawal from the KSK copper joint venture with Kalimantan Gold (LON:KLG, CVE:KLG) in Indonesia underlined the seemingly strange decisions major firms sometimes make in challenging times. Freeport funded a whopping US$33mln in exploration on KSK since the joint venture's inception in 2011, including more than 30,000 metres of drilling, and 4,762 line kilometres of airborne surveys. This exploration identified 15 targets - five of which are considered high priority. At the time of Freeport’s decision, Kalimantan stressed it was not due to the geological prospectivity of the project, which it claims is not in doubt". https://www.proactiveinvestors.co.uk/companies/news/69267/big-picture-kalimantan-gold-looking-to-future-after-freeport-mcmoran-pull-out-69267.html Make of that what you will. Plus we know Grasberg is due to halt open pit and in 2015/2017 and go underground at 1% grade per presentation Dec 11 2013: https://www.fcx.com/ir/2013present/Macquarie_FINAL_DEC13.pdf
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