Freeport McMoran (FCX) Message Board

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Gold/Mining/Energy : Freeport McMoran (FCX)

FCX 41.18

-1.2%

9:30 AM EST

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To: MWitte who wrote (27)	5/7/1999 11:57:00 PM
From: Herc	of 141

Though I haven't researched it I suspect that metals have become the commodity de jour in place of oils, which are selling off. Oils started to go up in early March and now seem out of favor. FCX has gone up 70% and copper has gone up about 15% Oil has gone up 50%, and my NBL has dropped by to about the same prior to March. What I haven't researched is when FCX, Phelps Dodge, etc. started up. I know FCX's ascent began later than early March. I suspect they will fall out of favor again soon. What is interesting is that Rio Tinto that owns a chunk of the Grasbourg mine has been near its 52 wk. high for a while. And FCX's proven reserve subtracting lifting costs is worth at least $150/share. I have a geologist friend who does seismographics for FM Oil & Gas, and he says that Jim Bob Moffett is such a hands on manager that he reviews all the seismic charts himself.

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