by end of '16
Pretty much every time you hear that kind of statement , bad news
Say $ 40 ? Sell all production , pay of the bank & put the leases up for sale . And fire management .
It came from the registration statement FCX filed .
So FCX is selling 20 % of its $ 9 billion acquisition of PXP & MMR for $ 100,000,000 ? Quite the haircut .
Better get those options re-priced while the Board is stupid enough to still believe in you .