Never heard Russ be anything but arrogant sounding at a cc. Never once has he leaned a ear toward the common shareholder.
Everyone knows now they can not make money unless copper sells for at least $3.50 / lb.
Vegas, you might see FCX going the way of SDRL in terminating their dividend. Something tells me things are going to get a lot worse for all commodities before they start to get better again. We could be looking at a deep bottom coming across the board here, and I'm not sure the rebound will be so swift this time with China taking a big breather. Copper is now selling for almost what it cost TGB to produce it. They are so far away from profit at this level, it's just sick! Someone should just ask Russ how much copper needs to sell for in order for them to actually turn a profit. My guess...$3.50.
Well, we know there is no way they can put a + in the earnings column. Not until copper gets back to at least $3.50. Any push in SP would be news driven. What news at this point, I'm not really sure.