Found this in an analyst briefing yesterday.....FCX's con call was yesterday.....
Event
· Freeport Speaks, Today in their 3Q conference call, Freeport-McMoRan* spoke about their excitement over the high-grade Cukaru Peki, greenfield discovery in Serbia with JV partner Reservoir Minerals. The bottom line here is that Freeport is unquestionably committed to continuing its exploration and assessment of this exciting find.
· Freeport's CEO Richard Adkerson said the following, which is better than anything any analyst or any one on the message boards could have penned, so it is presented here in full:
“Now Serbia. There's nothing in the natural resource business like Greenfield exploration. I mean nothing. The idea of making some investments in exploration, defining a new asset and creating huge value. That is the happiest day you can have in a company like ours....I go back and think what are the big success stories you know during my long career in the mining business: Greenfield exploration. They are few and far between. Few and far between. We have an active program Jim Bob worked with and we find Junior mining companies around the world on exploration concepts that have the potential to be big. We won’t look at anything unless it has the potential to be big. So that is why you haven't heard from us about this program. This does. You've been there. There have been some really exciting core holes that are controlled. A lot of work needs to be done. It's in a traditional mining area and the government of Serbia is very anxious to see us come in and invest. The current status is we are not actively drilling out. We are working on partnership arrangements with our partner there. I saw them briefly in London when I was there last week. And we are excited about it. But it's longer-term a lot of work to be done but it is a greenfield project that if it is successful could add a lot of value to the company. “