The exit of the Chairman of the Board at Freeport-McMoRan (FCX) brought a lot of headline news, but the investment story isn't altered to a large extent. Though James Moffett is credited with finding and developing the Grasberg mine, he is 77 years old and the story has moved long beyond copper exploration. At $7, the stock story is solely focused on the price of copper. The market cap is down to only a little over $8 billion, but the company has plans to generate roughly $600 million in free cash flow with copper at $2/lb. Freeport previously estimated that a $0.10 move in copper would impact cash flows by $110 million. With the current copper price comfortably above $2/lb, the copper miner is set to see free cash flow beat estimates leading to a stock rebound in 2016. At this point, investors are too worried by the debt load that stands at over $20 billion caused by the acquisition of the oil and gas properties. The debt level is concerning, but the ability to create solid free cash flow will allow Freeport-McMoRan to begin paying down debt and rolling over loans.