yes as dirt in the ground it has no value and that is why about 30 years ago. Accounting rules were changed not to carry assets like Oil Gold and REE in the ground. Simply it is worth what it can be sold for minus the cost to dig it up and process it into something sellable. right now this is Near Zero meaning very low value for the stuff in the ground. here is the annual report for FCX. Can you find any in the ground Gold or Copper on their balance sheet. I will make it easier for you start looking on PG 76. Take a good look and tell me what it is. Yet again an up ramper says something untrue hopping to increase the value. Denial is a great way to sty happy but not a good way to invest.
I have owned Freeport which is now Freeport Mcmoran for most of the last 30 years and I own it now. I have sold all my holdings and staid out for a year or two when i saw problems coming Always a good thing to do. It is like Warren buffet selling lots of stock and increasing his cash by over US $ 20b because he thinks a recession is coming. It is also why I am holding bounds for the first time in about 60 years,
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