RE:RE:RE:RE:Executive AppointmentsI'm "knotshure" where you got the idea that RMC has a huge monthly burn rate, but it is patently false. The YEARLY burn rate for the company for G&A purposes is only $2.5M. Salaries are very much inline with a junior explorer, and the leadership has a vested interest in making this a success as a bg part of their comp is based on options, so we are all in this together. This year the burn rat will be higher because they have committed to $5-6M for drilling the 100% land, but the company has ~$43M in cash and equivalents, so to suggest that FCX can simply wait for RMC to run out of cash is utter and complete BS.
Simply put, FCX has to get going to meet the timelines laid out in the current JV. They might be playing a very dangerous game if we hit anything on our 100% land. Fair value for RMC for the high grade on the JV land is $10-$15 a share. If we hit shallow low grade on our 100% land, that will be $20-$30 a share, if we hit shallow high grade, $30-$40 a share. One way or another, we should know in the next 4-6 weeks.