Freeport Has 9 Drill Rigs On-Site WorkingThere are currently 9 drill rigs working on site: 5 drilling the high grade area and 4 drilling the porphyry. Something is up. At a time when Freeport has slashed its operating, development and exploration budgets across the board, it is increasing its exploration and development expenditures at Timok. Freeport obviously is expediting its internal due diligence on Timok, most likely for the purpose of determining whether to keep the project or sell its interest in order to raise badly needed cash. Sounds like Icahn and Freeport's lenders are forcing Freeport to make a decision sooner rather than later respecting Timok. That Freeport is now drilling the project expeditiously and exhaustively indicates just how important the project is to Freeport's future--- be it to raise cash because it is one of the few things Freeport can sell in this market and make some money-- or to keep the project and focus its development monies away from Grasberg and into Serbia. Either way, RMC and its shareholders win and win big. RMC's right of first refusal under the JV Agreement of any sale of Freeport's interest in the project is currently as valuable as the underlying asset itself. Kudos to management for having had the foresight to have negotiated and obtained this right. With about $35 million in its treasury and a very consevative annual overhead, RMC can outwait Freeport-- a rare occurrence in a joint venture arrangement between a major and a junior.