Stock Market & Financial Investment News

News Breaks October 4, 2012 08:44 EDT QMM, FCX Quaterra sells Butte Valley, Nevada, copper prospect to FMMP Quaterra Resources announced the sale of the Butte Valley porphyry copper prospect to Freeport-McMoRan Mineral Properties, or FMMP. FMMP has paid Quaterra $2M, with a contingent acquisition bonus of $1M possible in the future if FMMP acquires certain additional designated properties in the area. Quaterra also retains the right, if and when FMMP completes a positive feasibility study, to elect to have either a 30% working interest in the project or a 2% NSR royalty. Butte Valley is a large, partially explored porphyry copper system located in eastern Nevada about 40 miles north of Ely in north-central White Pine County. The FMMP purchase includes 1,442 unpatented claims staked by Quaterra and assignment of its rights to an additional 41 claims held under lease from a prospecting syndicate. Quaterra also announced a modification to FMMP's earn-in requirement on its Southwest Tintic porphyry copper prospect in Juab County, Utah. The time for FMMP to complete aggregate expenditures of $3.25M and $4.725M has been extended by one year to Aug. 29, 2013, and Aug. 29, 2014, respectively. As of Aug. 15, 2012, FMMP has spent a total of $3M on the project. News For QMM;FCX From The Last 14 Days Check below for free stories on QMM;FCX the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 19, 2013 13:37 EDT FCX Death toll mounts at Freeport's Grasberg mine, Bloomberg reports Subscribe for More Information May 16, 2013 08:12 EDT FCX Freeport, Plains Exploration announce preliminary results of merger election Subscribe for More Information May 15, 2013 17:18 EDT FCX BP Capital gives quarterly update on stakes Subscribe for More Information May 14, 2013 07:29 EDT FCX BofA/Merrill to host a conference Subscribe for More Information May 13, 2013 07:36 EDT FCX Plains Exploration CEO urges holders to support Freeport McMoRan merger Plains Exploration (PXP) CEO and Chairman James C. Flores urged shareholders to support the merger with Freeport McMoRan (FCX) in a letter. The letter explained that "The strategic nature of the transaction, including the fact that the combination of the PXP, FCX and McMoRan Exploration businesses is expected to create the largest diversified U.S.-based natural resource company with an enterprise value in the top five among global mining peers, increase geographic diversification of the combined company within the U.S. and increase commodity diversification for the combined company. The scale of the combined company, which will enable it to compete more effectively than either PXP, FCX or MMR on a standalone basis, through increased cash flow and lower cost of capital investment in future development projects, exploration and acquisitions." May 9, 2013 14:30 EDT FCX Options Update; May 9, 2013 Subscribe for More Information 08:13 EDT FCX PXP announces support for merger with Freeport-McMoRan Subscribe for More Information 08:02 EDT FCX Freeport McMoRan says agreed terms for Plains Exploration are 'best and final' Subscribe for More Information 08:01 EDT FCX Freeport McMoRan says agreed terms for Plains Exploration are 'best and final' Subscribe for More Information May 8, 2013 14:03 EDT FCX Freeport McMoRan reiterated as an Overweight at Morgan Stanley May 6, 2013 10:49 EDT FCX Cliffs Natural rallies after analyst raises stock to Outperform Mining company Cliffs Natural (CLF) is climbing after FBR Capital analyst Mitesh Thakkar upgraded the stock to Outperform from Market Perform in a note to investors earlier today. WHAT'S NEW: After meeting with Cliffs' management, Thakkar is more convinced that the company can use various methods to offset declines in iron ore prices. Specifically, Cliffs Natural can reduce its spending on various initiatives, and sell assets to raise cash if necessary, the analyst contended. In addition, there are signs that China's iron ore imports could increase, while Cliffs' stock has slumped 49% this year, making its valuation attractive, the analyst wrote. Thakkar kept a $28 price target on the shares. TODAY'S PRICE ACTION: In mid-morning trading, Cliffs gained 85c, or 4.3%, to $20.75. OTHERS TO WATCH: Other metal producers rose slightly, with Alcoa (AA) adding 0.75% to $8.70, BHP Billiton (BHP) gaining 0.4% to $67.80, and Freeport McMoRan (FCX) gaining 0.75% to $31.40. 09:49 EDT FCX CR Intrinsic says Plains Exploration worth 40% more than current market price Subscribe for More Information 09:37 EDT FCX CR Intrinsic Investors to vote against Plains Exploration acquisition Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.