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Non-Tech : HIDDEN VALUE STOCKS -- Ignore unavailable to you. Want to Upgrade?

To: GC who wrote (17)	12/5/2000 4:04:44 PM
From: Herc	Read Replies (1) \| Respond to of 47

I just ran the #'s on FCX, Freeport McMoran Copper & Gold, using its "recoverable reserves" of copper, gold and silver from its 1999 annual report, its LT debt from its most recent quarter, and today's spot prices for copper, silver & gold and come up with recoverable reserves of all three elements of $235.81/share AFTER subtracting the LT debt. And this includes deductions for their lifting costs of 33 cents/lb. of copper and estimates of 40% lifting costs for gold and silver. And the lifting costs for the gold and silver may be part of the 33 cent lifting cost for copper. So FCX has recoverable reserves of copper, gold and silver of $235.81/share after debt and lifting costs. And it's trading for less than $9. Go figure!