I'm now hearing some of the "talking heads" suggesting that the depressed Europe market is now the place to invest with the most upside potential of all the global opportunities. Hopefully so which you would think would result in some love for our VJET soon
So tell me JB........just how "overvalued" was FCX five years ago when it was +$60 pps and prior to the 5-year decline in the metals industry? This latest 5-year decline is now long in the tooth and one of the longest duration metals declines that we have experienced in the last +40 years. I'm betting the inevitable turn around is going to be sooner rather than later and will be quite violent upward when it finally turns around due to many issues. Copper will always be a critical metal on the global scale.
So you are recommending that management reverse the ill-timed and overpaid for oil acquisitions with another ill-timed and undervalued sale of the assets? Two wrongs do not make a right. Bad idea! I totally understand why they made the acquisitions. They just had terrible timing and way overpaid. Management was highly rewarded for their shrewd acquisition of Phelps Dodge Mining in 2007. On the contrary, Management should be held accountable (compensation wise) for this latest blunder with the oil acquisition. The BOD should be ashamed of themselves for rewarding management for such poor performance. They should be held accountable also. Innocent shareholders are the ones currently paying the price for this poor performance by management!
$42 pps.......but I thought that 6 months ago! It's a crazy world we live in now and very unpredictable with all the manipulation going on by not only our government...... but globally as well.
Totally agree with you Nick. I've noticed that most of the large sized purchases were made near the lows within the last month so the large shareholders (like myself) are now all in and awaiting news to propel this to the expected gains. Only difference is that my crystal ball suggests the run-up will occur much sooner than your projection. Either time scale should be highly profitable though. Thanks again for your very informative comments on this opportunity!
Excellent question. Unbelievable that the "peanut gallery" has not thought this big issue out like you!
Hopefully it is favorable news of the Indonesian long term contract being consummated. If so, FCX will jump $10 pps in a matter of days
When the Indonesian contract situation is resolved......and if a win win for both parties....you will see FCX jump $10 pps basically overnight. Very risky to be shorting FCX during contract renegotiation time!
Correct IG. Don't know what planet "Institute" has been on for the last 15 years........maybe he has been in an institute.......hence his name. That could explain his naivety or why he is so uninformed !
From memory (which no longer is as reliable) the COW is revisited by this July and Ackerson has targeted the long term renegotiation by the end of the year. Since the Indo government is requiring new smelter capital investment for the long term it is only realistic that FCX can accommodate that request and justify to its shareholders if they have a long term contract extension in hand. So in other words, it seems like there is incentive from both sides for the long term extension to happen sooner rather than later. Otherwise, both sides will not obtain their objectives.
I'll settle for +$60............ which hopefully comes shortly after FCX resigns a long term agreement with the Indonesian government for the Grasberg mining
What most socialists (former demoncrats) conveniently forget......the Congress was totally controlled by the demoncrats when all those negative events occurred. But blaming everything on Bush seems to have been a successful tactic so far for the left wingers