On Wednesday, Shares of Freeport-McMoRan Inc. (NYSE:FCX), gained 1.46% to $11.78.
Freeport-McMoRan Inc., stated a net loss attributable to common stock of $3.8 billion, $3.58 per share, for third-quarter 2015 and $8.2 billion, $7.77 per share, for the first nine months of 2015, contrast with net income attributable to common stock of $552 million, $0.53 per share, for third-quarter 2014 and $1.5 billion, $1.47 per share, for the first nine months of 2014. FCX’s net loss attributable to common stock comprises net charges totaling $3.7 billion, $3.43 per share, for third-quarter 2015 and $8.1 billion, $7.71 per share, for the first nine months of 2015, primarily for the reduction of the carrying value of oil and gas properties and other items. Net income attributable to common stock for the 2014 periods comprised net charges totaling $114 million, $0.11 per share, for third-quarter 2014 and $236 million, $0.23 per share, for the first nine months of 2014.
Merged Sales Volumes
Third-quarter 2015 merged copper sales of 1.0 billion pounds were slightly below the August 2015 estimate and lower than third-quarter 2014 sales of 1.1 billion pounds. The variance to third-quarter 2014 primarily reflects lower volumes from South America as a result of the sale of Candelaria/Ojos in fourth-quarter 2014 and lower volumes at PT Freeport Indonesia (PT-FI) associated with lower ore grades and the impact of El Niño weather conditions, partly offset by higher volumes from North America.
Third-quarter 2015 merged gold sales of 294 thousand ounces were slightly lower than the July 2015 estimate of 315 thousand ounces and lower than third-quarter 2014 sales of 525 thousand ounces, primarily reflecting lower volumes at PT-FI associated with lower ore grades and the impacts of El Niño weather conditions.
Third-quarter 2015 merged molybdenum sales of 23 million pounds approximated the July 2015 estimate and the third-quarter 2014 sales of 22 million pounds.
Third-quarter 2015 sales from oil and gas operations of 13.8 MMBOE, counting 9.3 million barrels (MMBbls) of crude oil, 22.8 billion cubic feet (Bcf) of natural gas and 0.7 MMBbls of natural gas liquids (NGLs), approximated the July 2015 estimate of 13.6 MMBOE and were higher than third-quarter 2014 sales of 12.5 MMBOE, primarily reflecting higher volumes in the GOM, partly offset by lower volumes in California.
Freeport-McMoRan Inc., a natural resource company, engages in the acquisition of mineral assets, and oil and natural gas resources. It primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, in addition to oil and gas. The company operates through North America Copper Mines; South America Mining; Indonesia Mining; Africa Mining; Molybdenum Mines; United States (U.S.) Oil and Gas Operations; Rod & Refining; and Atlantic Copper Smelting & Refining segments.
Shares of Great Basin Scientific, Inc. (NASDAQ:GBSN), skyrocketed 37.14% to $0.0720, during its last trading session.
Great Basin Scientific, Inc. (GBSN), declared that on October 14, 2015, the Company received notice from the NASDAQ Listings Qualifications Staff indicating that the Company did not satisfy the minimum $35 million market value of listed securities and $1.00 bid requirements for continued listing on The NASDAQ Capital Market, as set forth in NASDAQ Listing Rules 5550(b) and 5550(a) price, respectively. In accordance with the NASDAQ Listing Rules, the Company has been offered a grace period of 180 calendar days, through April 11, 2016, to evidence compliance with the Rules. In order to satisfy the Rules, the Company must evidence a market value of listed securities of at least $35 million and a closing bid price of at least $1.00 per share for a minimum of 10 successive business days (and generally not more than 20 business days) on or before April 11, 2016. The notice has no effect on the listing or trading of the Company’s common stock on The NASDAQ Capital Market at this time.
The Company is considering its options to address the deficiencies, counting as formerly declared to file a proxy for a special shareholders meeting to solicit a vote on the implementation of a reverse stock split to evidence compliance with the $1.00 bid price requirement.
Great Basin Scientific, Inc., a molecular diagnostic testing company, doing business as Great Basin Corporation, develops and commercializes molecular diagnostic systems that are designed to test hospital-attained infections. The company’s platform provides C. diff test, a rapid medical diagnostic test for the detection of C. diff, a gram-positive bacteria that causes severe diarrhea and other intestinal disorders.