RE:Can anyone give a summary of the online presentation Here is a very brief summary I sent to a couple of friends who are also shareholders but could not participate on the call. This was done quickly and literally within 2-3 minutes of the call be completed. I took away no negatives from the call. On reflection I did like the way Simon answered the question and explained that the 100% owned adjacent property would not be included in the JV negotiations. He explained that FCX and other companies are closely watching what happens at the property and chose his words carefully precisely when explaining that the property is not part of the JV "negotiations". He made sure to not rule out other possibilities in my opinion.
"Good call but almost 90 minutes. They have many interesting projects that companies are watching, including the drilling on the 100% owned land adjacent to Cukaru Peki. While they inform FCX of the activities on the 100% property, they have no intention of including that in the JV. The JV is taking time because both parties believe it will go into production as a mine and RMC wants to protect its interest as a minority shareholder (25%) with respect to such things are capital calls, budgeting, cost overruns, etc. Simon did highlight that FCX Chair/CEO has begun to talk up the project and he indicated that the key for both parties now is to define the limits of the size of the porphyry copper deposit. The high grade is currently estimated at 65 million tons and if the step out drilling is remotely successful, several hundred million tons (possibly up to 1 billion) could be added. FCX has also started drilling on non-Cukaru Peki JV properties to the north in addition to its Cukaru Peki drilling.
On balance, very positive call."