RE:RE:Fitch downgrades FCX to one level above JunkGet your facts straight. Freeport did extensive drilling this past year, more than any of its other exploration projects. It spent about $20 million in 2015 on Cukaru Peki. As of about a week ago they had over a dozen rigs drilling. Second, RMC will have no problem raising the funds to purchase 100% of Cukaru Peki. There is plenty of money available for good projects--- look at Rio who just closed a $5 billion financing for its OT deposit. Cukaru Peki is the highest grade copper discovery, maybe ever, let alone in the past 30 years. The DSO makes it immediately and significantly profitable even at today's depressed copper prices.The gold credits alone from the DSO are extremely profitable at today's gold prices. In its Q-3 earnings conference call in October, Freeport promised investors (and creditors) that it would execute on asset sales within 6 months time or about when it has its 2016, Q-1 earnings conference call. That means between now and the end of Q-1 Freeport will announce asset sales. Cukaru Peki likely will be one of them.
Many of us on this board have been shareholders since the spinout of RMC from REO. Stop your customary negativity and pay attention to the facts.