Freeport McMoran (FCX) Message Board

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Gold/Mining/Energy : Freeport McMoran (FCX)

FCX 41.18

-1.2%

Nov 3 9:30 AM EST

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To: teevee who wrote (21)	2/14/1999 11:53:00 PM
From: Herc	Read Replies (1) of 141

I bought the stock about a year ago and perused their annual report. Since I live in New Orleans where they're headquartered, I figured the extra local coverage would give me an edge. The gold, copper and silver they had in proven reserves THEN was worth over $100/share after subtracting debt and after subtracting what I figured was their cost of getting it out of the ground. And that is at today's depressed prices. Rio Tinto that owns part of FCX has been trading at non depressed levels. I can't figure that out. I have made $5000+ just trading it on dips. since Nov. It ain't going to go broke! Also you may know that Henry Kissinger is on the board to deal with sticky international situations like Suharto. Also their chairman, Jim Bob Moffett, is locally infamous for his Elvis impersonations at company soirees. He seems to be a VERY capable CEO.

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