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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: gpphantom who wrote (72900)	9/11/2000 8:23:22 AM
From: Big Dog	Respond to of 95453

Re FCX gold. You may want to look at the FCX class B stock. This is currently selling at about 18. This preferred stock will be 'cashed out' at some future date (I think in 2004 or so...but could be off a year or two) for 10% of the then current price of gold. So if gold is $280 in 2004, this stock is worth $28. If gold is $400, the stock is worth $40, etc. Plus...it pays about 5% dividend while you wait. Bottom line, if gold stays at current levels, the stock moves up $10 between now and 'cash in time' and there is the money-market level dividend while you wait. I like it and own it. FWIW, back when gold spiked higher some months ago, this stock went to about $23-ish. big