BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: william smith who wrote (27139)	9/29/1997 12:43:00 AM
From: alan holman	of 28369

FREEPORT-MCMORAN COPPER & GOLD INC. Grasberg Reserves/Resources Increased Again New Orleans, LA (9/18) - Freeport-McMoRan Copper & Gold (FCX) announced that aggregate proven + probable reserves and geologic resources at its Grasberg copper-gold project, Papua New Guinea, now total 3.15 billion tonnes containing 74.9 billion pounds copper and 108 MM ounces gold. Proven + probable reserves at year-end 1996 were reported at 2.01 billion tons containing 52.7 MM pounds copper and 76.2 MM ounces gold. The company expects to move approximately 200 MM tonnes grading 1.86% eCu from geologic resources to proven + probable reserves by year-end 1997 (2.2 billion pounds copper and 3.5 MM ounces gold). These additions are to come principally from the Kucing Liar deposit. A further 250 MM tonnes are expected to be moved from geologic resources to reserves by year-end 1998. Source: NR. Contact: James R. Moffett, chairman, New Orleans, LA, (505)582-4000, NYSE (FCX).

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