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10/28/14

Let's see what Freeport (FCX) has to say about its exploration activities in Serbia

From the 3q14 earnings call, today:


“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 in creating huge value. That is the happiest day you can have in a company like ours. And you know in the oil and gas business it happens a lot more frequently than it does in the mining business and that is again the support of about prices you go back to you 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. The to 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 an area that's traditional mining area for 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."