Maybe this idiot FCX management should sell the next 50% stake to the Indonesians --now-- (for not less than $8.4 billion), and keep the majority of the oil assets ?? This extortionist Indonesian government, seems to be as much or more risk than holding on to the oil business for the long haul ??
This scenario would leave FCX with 30% (or is it 40%) stake in Grasberg, and a much improved balance sheet.
Zepatier carries a warning alerting patients and health care providers that elevations of liver enzymes to greater than five times the upper limit of normal occurred in approximately 1 percent of clinical trial participants, generally at or after treatment week eight. Liver-related blood tests should be performed prior to starting therapy and at certain times during treatment. Zepatier should not be given to patients with moderate or severe liver impairment.
Not according the oil futures trading now. Copper futures are flat at $2/pound.
I suggest you get ready to cover your short first thing in the morning.
Copper production cost $1.50 per pound.
The extortionist Indonesian's and FCX shorts can EAT THIS GROSS MARGIN on Tuesday !!
If you are long, you must put in a limit order to sell (obviously at the pps limit price you are willing to sell) in order TO PREVENT THE SHORTS FROM BORROWING YOUR SHARES. If you have long shares sitting in an account with now limits on the shares, then YOU are helping shorts borrow your shares to sell.
And maybe Flores is an idiot ? But I hope not, since I'm also long.
I remain long and hope you're correct this will recover. I do not trust FCX current management whatsoever. Question I'm asking is a reliable Reuters article last week said FCX has hired Lazzard to run an auction for the O&G business in Jan (or 1Q). Hope Icahn will not allow current management to give O&G business away at a fire sale, or is Ichan driving this ? This does not make sense to me, at least so soon after common stock raise of 20% dilution over the last Q.
Seriously. Depends on how long such $20 persists. This commodities related businesses is fairly easy to understand. Too much debt, and a sustained price collapse is a financial armeggedon. Ie potentially bankrupt. I'm long FCX and have learned a valuable and very very expensive lesson. Hope they can survive, but this management is completely incompetents.