HELLO ALL

TAKE A GOOD LOOK AT THE CHARTS BELOW. CHECK THIS COMPANY IT SEEMS A GOOD PUNTER BASED ON ITS COPPER MINING POTENTIAL IN PERU.

.
RNS Number:9040S
Monterrico Metals PLC
05 December 2003
Monterrico Metals plc
Rio Blanco Pre-feasibility Study
Strong copper prices provide additional lustre to the results of the
Pre-feasibility Study at Rio Blanco in northern Peru.

LONDON: 05 December 2003 : Monterrico Metals plc. ("Monterrico" or the "Company")

is pleased to release highlights from the Pre-feasibility Study which examined
the economics for the development of the Company's 100%-owned Rio Blanco Copper
Project ("Rio Blanco or the "Project").
Discounted cash-flow analysis using data from the Pre-feasibility Study
indicates a pre-tax Project Net Present Value of US$320 million at a discount
rate of 10% and an internal rate of return of 33% using a copper price of 90
cents per pound.
The Pre-feasibility Study was compiled by GRD Minproc whose conclusions where
drawn from individual reports by Snowden Mining Industry Consultants, Vector
Engineering, SGS Lakefield, Golder Associates, Water Management Consultants and
Minproc.
The report appraised four process design options for the development of the
Project, as it is currently understood. The report concluded that the best
financial return for the lowest technical risk was to mine 10 million tonnes of
ore per annum (27,000 tonnes per day) using simple open cut technique and
produce a copper concentrate for shipment to a smelter. Production in this
scenario would average around 100,000 tonnes of copper in concentrate per annum
in the first seven years.
The key advantages at Rio Blanco are;
- The possiblity to mine higher grade ore for the first five years of
production (at an average grade of 1.13% Cu)
- Rapid payback of capital around 3 years and long mine life, 32 years.
- Waste to Ore ratio very low at around 0.7:1 over life of mine.
- Simple metallurgy allows for high recoveries of around 90 - 95% and the
production of a clean high-grade concentrate (30 - 38% Cu)
- Estimated capital cost for the project is US$191 million, which is
modest for its size due to simple mining and processing.
To date, Monterrico has not taken into account the molybdenum present in the
resource. Molybdenum may be extracted in the concentration process and would be
a valuable by-product. The company intends to calculate a molybdenum resource
as the part of the feasibility study, and this has the potential to further
improve the economics of the project.
The Company has recently secured GBP10.2 million (net) to fund the Bankable
Feasibility Study. Drilling contractors have initiated the 20,000 meter infill
drill program to define proven and probable ore reserves. Tunnelling contractors
are extending the "Karlita" tunnel and are presently at 270 meters through
Henry's Hill. Monterrico currently has 20.17 million shares in issue trading at
around 168p and an undiluted market capitalisation of GBP33.9 million.
Chris Eager (CEO) said: "The timing for the Project couldn't be better, there
is sustained international demand for clean high grade copper concentrate and
the outlook for rising copper prices. Rio Blanco looks very attractive at the
current copper price (around 95 c/lb) and sensitivity analysis indicates that
the project could generate robust cash-flows at much lower prices. The
Feasibility Study has begun and results from both the drilling and tunnel should
be released prior to Christmas."
Contact:
Christopher Eager, Monterrico Metals +44 20 7448 5088
Keith Irons, Bankside Consultants +44 20 7444 4155 / 07885 356 639
Richard Chase, Ambrian Partners +44 20 8528 1456

http://www.monterrico.co.uk/

i WOULD LIKE TO SEE MORE INPUT FROM THOSE METALS GURUS HERE AND CHARTIST. i THINK BASED ON THE NEWS RELEASE TODAY THIS CAN GO TO 200P B4 XMAS.

shares jumped so far 6.58% today. highest price 200p!! as my prediction. somes news below.

16:26 05Dec2003 RTRS-Monterrico shares up 8 pct on copper project news

By Clare Black
LONDON, Dec 5 (Reuters) - Shares in UK-listed copper miner Monterrico Metals plc gained over eight percent on Friday after a positive report on its Peru-based Rio Blanco project.
Monterrico said a pre-feasibility report, which assessed four design options for the project, showed the site could produce 100,000 tonnes per year of copper in concentrate.
Monterrico stock, listed on London's Alternative Investment Market (AIM), jumped 12 pence to a life high of 183 pence on Friday.
The shares started off the year at just 44 pence, but have soared since the discovery of Rio Blanco.
Chris Eager, managing director of Monterrico, told an investment seminar in London on Friday the mine would produce an average of 103,000 tonnes of copper in the first five years of its projected 32-year life.
The estimated capital cost of the mine was $191 million.
Total costs would be around 49.7 cents a lb for the first five years, Eager said, adding the study had assumed a market price for copper of 90 cents.
Copper futures on the London Metals Exchange (LME) were quoted at $2,146 a tonne (97.3 cents/lb) on Friday.
Eager told Reuters Monterrico had started drilling for the bankable feasibility study, which it expected to complete towards the fourth quarter of 2004.
"The project looks very robust financially. Copper prices are good and firming and there is a shortage of good, clean high grade concentrate in the world so I see no reason why it shouldn't go straight from feasibility study to construction in 2005," he said.
The Rio Blanco resource also contains the minor metal molybdenum, which has not been taken into account in calculating costs.
Molybdenum prices are around $6.20-6.50 a lb and have risen by some 85 percent since the start of the year
NO PARTNERS ENVISAGED
Eager said Monterrico, which acquired 100 percent of the Rio Blanco property in April 2003, intended to build the mine alone.
"At the moment we are not entertaining any other partnerships as we are fully funded...I think we can add a lot more value before speaking to anyone else," he said.
Concentrate from the mine could be trucked to a Pacific port, though it was also possible to ship concentrates out via the Amazon.
He said around 80 percent of the mine's output would be sold on long-term contracts in the first four to five years.
Monterrico has five other projects in Peru, including a gold joint venture with the world's biggest gold producer, Newmont Mining Corporation .

Highest reached now 204pence!! 190-197 b/o low volumes

xmortal,

Well this is my first look at Monterrico, and i must say the chart is impressive.

I'm going to look into them more, prima facie this does look good.

aimtrader,

I think this have some more to go, as the coppper find is of great value and it can be a good chance for a take over by a biggy.

Price has quadrupled in 12 months, to a nine-year high. Sadly I didn't buy that long ago, but I am sitting on a nice profit.

People are (understandably) frightened of buying into stocks whose price has already done amazing things. But I usually include one such in my portfolio if the story and charts look sound. At present I have two - this one, and AMR which has trebled in 6 months.

From Shares Magazine. Page 68:

Broker's Tips: Numis. Monterrico Metals - Strong Buy. Price Target 375pence

">

">

thanks

Sorry to post this one day late. yesterday shares added 2%.










Company Monterrico Metals PLC
TIDM MNA
Headline Drilling Report
Released 07:00 29 Dec 2003
Number 6810T










Monterrico Metals plc



First assay results from Rio Blanco Feasibility Study


LONDON: 29 December 2003 - Monterrico Metals (Monterrico or the Company) (MNA.L) is pleased to report the successful start-up of the Feasibility Study on its 100% owned and operated Rio Blanco Copper Project in northern Per(Rio Blanco).



Drilling at Rio Blanco is now focused on defining a mineable reserve on the Eastern Slope of Henrys Hill. The objective is to convert in part the current indicated and inferred resource of 177 million tones @ 0.99% Cu into a proven and probable ore reserve. Monterrico is now drilling on an approximate 75m x 75m grid to quantify and qualify the distribution of the enriched (supergene) and primary (hypogene) copper mineralization.



Assay results for the initial two holes of the proposed 20,000 metre infill program for the Feasibility Study are tabulated below. It is important to note both holes were terminated in mineralization.



RB 50 (290 / - 65)
From to (m)
Interval (m)
Cu %
Mo %
Cu % equiv*



Supergene ONLY


92 218



incl 174 204
126.0



30
0.94



1.48
0.015



0.014
1.03



1.57



Hypogene ONLY
218 411.5



incl. 228 276
193.5



48
0.51



0.71
0.016



0.021
0.61



0.84

Supergene + Hypogene


92 411.5
319.5
0.68
0.016
0.78






RB 51 (250 / - 65)
From - to (m)
Interval (m)
Cu %
Mo %
Cu 5 equiv*



Supergene ONLY
194 254



incl. 210 250
60



40
1.10



1.31
0.013



0.012
1.18



1.38



Hypogene ONLY
245 338.3



incl. 292 310
84.3



18
0.50



0.72
0.013



0.018
0.58



0.83

Supergen + Hypogene


194 338.3
144.3
0.75
0.013
0.83








* Copper equivalent grades have been calculated using current metal prices (US$1.00/lb. for copper and US$6.20/lb for molybdenum); %Cu equiv. = %Cu + %Mo x 6.2.



Monterrico recently announced the results of the Pre-Feasibility Study to develop a large-scale, open cut mining and milling operation at Rio Blanco. The report demonstrated the technical and economic viability of processing 10 million tonnes of ore to produce 100,000 tonnes of copper in concentrate per year. This process also allows the recovery of valuable bi-products including molybdenum and silver. Monterrico is now assessing the grade of molybdenum and silver that may be recovered in parallel to producing the copper concentrate. The recovery and sale of molybdenum and silver in concentrate would result in additional revenues that would further improve the project economics. As result analysis of copper and molybdenum is now reported and the total copper equivalent grade quoted.



The Karina exploration tunnel, driven along the 2,350m level, has been terminated at 322.4 meters midway across Henrys Hill. Monterrico earlier reported an interval of 90 meters @ 1.10% copper from the original 171 meters of advance. Laboratory results for the final 151.4 meter extension has received and include 60 meters at an average copper (only) grade of 1.23%. The contribution of molybdenum can be clearly seen as a valuable credit to the overall project economics.





Tunnel KARINA
From - to (m)
Interval (m)
Cu %
Mo %
Cu $ equiv*



ALL Supergene

28 322.4

incl. 64 154

incl. 170 230


294.4

90

60
0.91

1.10

1.23
0.014

0.006

0.029
1.00

1.14

1.41






Monterrico recently raised GB10.8 million, principally to fund the definitive Feasibility Study for Rio Blanco, which is scheduled for completion in early 2005.



Mr Chris Eager, managing director, said The first drill holes in the infill drilling campaign have further confirmed substantial widths of ore grade mineralization both in the enriched blanket and in the underlying primary zone. The scenario of building a concentrator at Rio Blanco has the advantage that we can factor in bi-product credits, increasing project revenues. Drilling deeper into the primary mineralization will increase Rio Blancos resource base significantly.







Ends

For further information:



Chris Eager, Chief Executive,

Monterrico Metals plc Tel: 020 7448 5088/ Mobile: 07903 158 301



Keith Irons, Bankside Consultants Tel: 020 7444 4155/ Mobile: 07885 356 639



Richard Chase, Ambrian Partners, Tel: 020 8528 1456



END

Thanks, xmortal. This link may make it easier to read:

http://moneyam.uk-wire.com/cgi-bin/articles/200312290700166810T.html

">

Monterrico tipped today

Of the horde of explorers and miners that have listed on AIM over the last couple of years one of the great success stories has been Monterrico Metals. The company was founded in 2001 and is led by Australian duo Chris Eager and Ray Angus. The former trained as a mining engineer and, following an MBA, gained extensive City experience as a resource banker with NM Rothschild, the latter is a through-and-through field geologist who has spent the past fifteen years in South America. The company acquired a portfolio of exploration projects in Peru and listed in mid 2002 at a price of 46p, raising 3 million.


Monterrico's main project is the Rio Blanco porphyry copper deposit on the Peruvian - Ecuadorian border, which currently has a resource of 1,071Mt. Within this is a higher grade core of 177Mt at 0.98% copper that would be mined first. A pre-feasibility study was completed in November 2003, which gave the project has an NPV of 320 million US dollars, using a 10% discount rate and a capital cost of 191 million dollars. Over a 30-year life the study anticipates average copper production of 90,000tpy, with 100,000tpy during the earlier years.


Since listing the board has focused on the development of Rio Blanco, and has managed to steer it swiftly through the process of resource definition and pre-feasibility study whilst carefully husbanding the company's resources. Monterrico's share price has risen steadily and it is currently trading at 234.5p giving the company a market capitalization of 47 million pounds. And it has net cash of 10 million pounds following a placing last year. This has been driven by a combination of progress at Rio Blanco and a rising copper price.


Copper on a High
Copper is currently trading at a high of 2,554 dollars per tonne because of the continued strength of demand in Asia, especially China and a lack of supply. This has been caused by a number of mine closures over recent years that have been exacerbated caused by last year's planned production cutbacks and the significant and ongoing pit wall stability problems at the vast Grasberg mine in Indonesia. It therefore appears likely that the copper price will remain strong over the short and medium term. It should however be noted that much of the rise in the US dollar copper price, as with other metals and oil, may be attributed to the fall in the value of the US dollar relative to other currencies. If the US dollar continues to trade at current levels then there will obviously be a negative impact on the sterling value of Monterrico's project and any future revenue from it.


The upside at Rio Blanco comes principally from further exploration, where work to date has focused mostly on the deposit's leachable cap. This was because the company initially envisaged constructing a heap leach operation and further deeper exploration could substantially increase the resource base. Additional upside may be found in the value of the molybdenum credits in the orebody, which Monterrico is currently evaluating. The management believe that the molybdenum credits have the potential to add up to 15 million US dollars per annum to Rio Blanco's cash flow at current molybdenum prices.


Although Monterrico's share price has risen significantly there remains further scope for increase as the NPV translates to 922p per share. Whilst it is unlikely to reach this level a 12-month target of 297p, a 70% discount to NPV based on past performance should be achievable.

Key Data

EPIC: MNA
Market: AIM
NMS: 500
Spread: 232p-237p
Market Cap: 47.3 million pounds

philjj. Thanks for these.....where did u see the article?? I believe the share will pass the 300p well before the 12 months period. I will investigate more regarding the other assest of Monterrico. Also I feel almost all mining are the hot shares at the moment, and some oil stock. I will do some swicth from the stale shares I have: I have my eye on

CDN, MIO, MANA, EUA, BDY, PET AND ENN. All high risk tho.

Up to 4.46% to 257.70pence. There is not stopping Monterrico. I think this will reach 300p in 2 months and pass 400p by end of the year. Read the article above and the directors dealing of today...... to me it is a good buy. There is loosing with the stock. High grade Copper demand is at its highest as manufacturing and China take off.

Company Monterrico Metals PLC
TIDM MNA
Headline Director Shareholding
Released 16:12 11 Feb 2004
Number 3013V

MONTERRICO METALS PLC (THE COMPANY)

The Company announces that on the 10th February 2004 one of its directors, Mr F Z Haller agreed an off market purchase from Torre International Holdings Inc of 112,092 Ordinary shares of 10p each in the capital of the Company at 225p per Ordinary share.



Following the completion of this transaction Mr Hallers direct and indirect shareholding will increase to 760,431 Ordinary shares of 10p each (3.77%) of the issued Ordinary share capital of the Company.



For further information, please contact:-



Mr Chris Eager, Chief Executive Officer, 020 7448 5088.





11 February 2004





END

It reached 267p today. nearly 4% up. At this pace we will reach 300 by end of March. Come on show me the money!!!

Good news. Copper has risen 1000 points since november last year now standing at 3000$/tonne. Great reads regarding copper in IC and Shares Magazine. If this continues MNA will reach 500p by the end of the year. Lets hope Rio Blanco get the go ahead after the feasibility report. Also Monterrico had again a mention in shares.

Price soars on solid demand

Base metal prices have rallied in recent weeks and copper is one of the metals leading the charge. In the past few weeks, the copper price has risen 10% to a new eight-year high of USc124/lb and analysts at Deutsche Bank think it still has momentum left. They think the copper price could test the 1995 high of $3,230/t in the coming months, if not weeks. There have been four such rallies in the past 35 years, but this is no flash in the pan, they say. Higher prices could be here to stay as improving demand and limited new mine capacity should support higher prices over the longer term.

Copper is the metal of choice for analysts at Deutsche Bank for its increasingly tight underlying fundamentals. A range of more speculative factors have also all aligned to give the price a fillip, in particular Chinese demand and US dollar weakness. In China, imports of copper rose a solid 15% year on year in 2003 and this momentum is expected to be a significant short and long-term driver of price. There are also signs of improving demand in some of the more developed markets, according to Deutsche Bank, particularly in the US and Europe, which are currently reflected in higher inventory outflows. Added to this, a strong speculative interest in copper has contributed to higher prices.

On the fundamental side, analysts cite tight supply as the key reason behind the price gain. A review of the projects in production, or due for production, in the next two years reveals just how limited these growth opportunities are. Apart from smaller expansions, there are only five large projects contributing to the growth in mine supply this year Sessego, El Teniente, Escondida, Collahausi and Olympic Dam.

A number of mining restarts should add to volumes, but the net result is more than offset by the impact of the Freeports Grasberg mine slippage and other disruptions, says Deutsche Bank. Freeport recently reduced its copper production targets for 2004 by 28% from 1.4mlb to 1.0mlb because of a delay in the mining of high-grade ore at the site. While these sort of disruptions tend to be once-offs, the main reason behind the fall in supply is the decline in exploration, R&D spending and capital investment across the commodity industry. These supply constrictions should place strong upward pressure on refined prices, increasing the probability of further price spikes.

Given this price momentum, Deutsche recommends investors take positions in mining stocks with exposure to the copper cycle. Its preferred pick is Anglo-Australian mining giant, BHP Billiton (BHP), which is in the process of ramping up its production of both copper and aluminium to tap into the improving demand. Analysts say: It continues to benefit from broad commodity exposure, while the expansion in copper and aluminium is proving well-timed. The groups opportunities are not just limited to earnings from copper; analysts also see the potential for expansion in its iron ore business. The volume expansion in iron ore, planned for 2006/07, would offset any momentum lost from the scaling back in its capital expenditure programme.

Australian-based mining giant Rio Tinto (RIO) is another miner offering exposure across a range of base metals. The company recently reported net earnings of $1.382 billion pre-exceptionals in 2003 against $1.53 billion the previous year. The result was weaker than expected, particularly in industrial minerals, aluminium and energy coal. Copper earnings were a strong point, as were earnings from iron ore and diamonds, according to analysts.

WMC Resources (A:WMRX) also recently reported full-year 2003 results. Full-year profits of A$246 million after tax were well ahead of consensus expectations of A$216 million. The income split revealed mixed results across its various divisions, with a particularly strong nickel contribution offset by weaker copper and fertiliser contributions, according to analysts. The surprise factor was the strong performance of the nickel price, particularly in the second half, which led to a premium in contained metal sales contracts.

Picking stocks with exposure to copper earnings is an investment choice that is underscored by strong fundamentals, according to Deutsche Bank. It is expected that the decline in copper inventory will increase the likelihood of further price rises, say the analysts, and for the mining giants which have a hand in this production, increased copper earnings may be a feature of balance sheets for years to come.


Copper mine expansions - major mine (Kt)
Country Mine 2003 2004 2005
Brazil Sossego 80 180
Chile El Teniente 283 458 454
Chile Escondida 860 1050 1200
Chile Collahuasi 393 465 475
Australia Olympic Dam 172 240 245
Source: Deutsche Bank estimates

UP 14% HERE IS WHY. MORE TO COME. GREAT GROWTH POTENTIAL MY ESTIMATES BY THE ENDO OF YEAR IS 400P

Monterrico Metals plc



New Primary Resource Potential at Rio Blanco


LONDON: 18 March 2004 - Monterrico Metals (Monterrico or the Company) (MNA.L) is pleased to report on the latest drill results from the Rio Blanco Copper Project (Rio Blanco) wholly-owned and operated by the Company, in northern Per



Previous drilling at Rio Blanco has focused on defining the tonnes and grade contained in the enriched copper blanket which consists of secondary copper mineralization amenable to heap leaching. The Pre-feasibility study (completed in late 2003) demonstrated that the most advantageous process route at Rio Blanco is now to build a simple flotation concentrator and market copper and molybdenum concentrates to smelters. This process route would allow Monterrico to treat ore from the large primary resource underlying the enriched blanket and recover molybdenum and other metal credits.



Molybdenum is currently trading above US$8.00 per pound, over six times the value of copper. The global resource potential at Rio Blanco may be substantially increased with the inclusion of additional drilling data from the primary copper/moly mineralization that underlies the enriched copper blanket. Monterrico will now report copper equivalent grades (%CuEQ) to include the contribution of molybdenum, as well as the copper grade. Latest drill hole RB-56 serves as an excellent example where the enriched blanket assayed 220m @ 1.09% CuEQ from 12m below surface. The remaining 109m tail of the hole averaged a primary grade of 0.56% CuEQ and was terminated in mineralization.



Monterrico has begun to quantify the primary resource potential of Rio Blanco. Latest drill results returned significant widths of high-grade primary copper and molybdenum mineralization, including RB-59 which assayed 198m @ 1.12% CuEQ from 46m below surface. The discovery of this zone is significant as it occurs on the margins and extends outside of the previous resource model.



Monterrico intends to publish a new resource estimate that will include copper and molybdenum from both the primary and secondary ore types. The company has commissioned GRD Minproc to assess the capital and operating costs associated with building an operation to treat 20 million tones per annum of ore. This reflects the expanding resource base at Rio Blanco, where doubling production capacity would substantially increase project returns.



Mr Ray Angus, Chief Operating Officer, said We are just beginning to examine the big picture at Rio Blanco and physically step-off Henrys Hill - where we have only explored for copper enrichment. The scenario to install a flotation circuit and concentrator allows the simple processing of both secondary and primary ore types. With the latest discovery of high-grade, near surface primary copper plus moly values in the porphyry shell, we are now running parallel programs to define reserves and to expand the global resource at Rio Blanco.



Ends

For further information:



Chris Eager, Chief Executive,

Monterrico Metals plc Tel: 020 7448 5088/ Mobile: 07903 158 301



Keith Irons, Bankside Consultants Tel: 020 7444 4155/ Mobile: 07885 356 639



Richard Chase, Ambrian Partners, Tel: 020 8528 1456

It has passed the 300p before end of March(as predicted on my post 12 Feb)and up nearly 10% today Now my conservative prediction by end of year is 400p. Come on all there must be people owning MNA. It gets lonely just me posting. any comments?

market cap as of 27.02.04 50 million

I've held Monterrico since they were 100p or so. Its taken about 8 months to triple so far. This may be due to the fact they are one of the few mining comp. to have more or less only good news flow. I think 400p by end of year is realistic. Just wish I had bought more at 100p, but am considering a re-investment in the near future

350-355 price. 12% up today. Lets pray it reaches 400p when further tests come positive on its Rio Blanco Copper reserves

Jeez I wish I had bought more at 100p! still think they are worth a punt and so do investors chronicle. Think 400 is within reach.

For you guys: Tipped as a BUY in the Sunday Telegraph today.

Monterrico Metals

We last tipped Monterrico Metals, the Aim-quoted copper-mining company, when we advised investors to sell at 84.5p in June last year. Our advice came after we had made a 65 per cent gain in six months and it seemed wise to lock in the profits.

We were rather hasty - the shares have since soared to 292.5p. However, we believe that, even at this price, there is money to be made from investing in Monterrico. The company is developing a copper deposit in Peru and is likely to announce this week that consultants from Amec have increased their estimate of its size.

Monterrico has consequently revised its mine plan upwards to produce 200,000 tonnes of metal a year, making it one of the largest copper mines in the world. The news, combined with investors' current strong interest in mining companies, should see the share price continue its stellar performance. Buy.

http://www.money.telegraph.co.uk/money/main.jhtml?xml=/money/2004/05/16/ccmm16.xml&menuId=243&sSheet=/money/2004/05/16/ixfrontmarkets.html&secureRefresh=true&_requestid=14314

RNS Number:7285Y
Monterrico Metals PLC
17 May 2004



Monterrico Metals plc



Feasibility Drilling Results from Rio Blanco

Further resource increase possible



LONDON: 17 May 2004 - Monterrico Metals ("Monterrico" or the "Company") (MNA.L)
is pleased to report that recent drilling of the Rio Blanco copper deposit in
Peru continues to push the mineralized envelope which is expected to lead to a
further increase in the geological resource. The drilling is being conducted as
part of the full bankable feasibility study of the Rio Blanco project ("Rio
Blanco") which is wholly-owned and operated by Monterrico.



Several of the latest drill holes on Henry's Hill intercepted thick zones of
copper and molybdenum mineralization in the enrichment blanket,including RB-60
with 112m @ 1.04% CuEQ and RB-69 with 84m @ 1.24% CuEQ. At the same time, as
new holes are drilled deeper, the zone of primary mineralization is being
developed underlying the secondary enrichment and off the flanks of Henry's
Hill. Examples include RB-63 with 92m @ 0.77% CuEQ and RB-64 with 213m @ 0.85%
CuEQ (See accompanying table).



The resource estimate published in September 2003 based on preliminary drilling
of shallow mineralization was 662 million tonnes at 0.7% copper excluding
molybdenum by-product credits. Recent drilling has confirmed that the deposit
is still open laterally and at depth. One of the most impressive results was
from RB-67, the easternmost hole drilled on the property to-date, which
terminated at a depth of 474m in an equivalent primary copper grade greater than
1%. Sample recovery commenced from 56m below surface, and the entire run
averaged 418m @ 0.60% CuEQ.



Mining and Engineering consultants from AMEC are currently re-estimating the
resources including the additional drilling completed over the past months. As
a result Monterrico has revised its initial development plans to provide for a
mining operation of 20 million tonnes of ore a year to produce 200,000 tonnes of
contained copper together with significant molybdenum in concentrate per year.



Peru is Latin America's second largest copper producer and production of 200,000
tonnes of copper a year from Rio Blanco would equate to around 20% of the
countries current copper production.



Good progress is being made on other aspects of the project bankable feasibility
study. In April AMEC began a review of the pre-feasibility geologic model and
consulted on the infill drilling program as part of its role to update the
resource estimate and open-pit design. Meanwhile, Hatch and SGS Lakefield
Research in Santiago, Chile, have begun to scope the detailed metallurgical
testing program and flow-sheet design.



Representatives of Vector Peru S.A., the geotechnical engineer, have arrived at
the project site to review core logs and collect samples for acid rock drainage
testing. Vector has also entered into detailed discussions with Monterrico on
planning for sterilization and geotechnical drilling and has also begun
coordination with Golder Associates on providing data required for the
environmental impact assessment.



Golder has commenced work on an EIA Scoping Report for the EIA, which will be
submitted for approval by the Republic of Peru Ministry of Energy and Mines
(MEM) in June. The Scoping Report is required for MEM approval of the scope and
methodologies of the EIA. The actual EIA is scheduled to be completed in the
first quarter of 2005.



Monterrico and its feasibility study manager, MTB Project Management
Professionals, have continued to evaluate options for access roads, supply power
lines and concentrate transport methods, as well as to further refine the
project organization and procedures.



Monterrico' CEO, Chris Eager said "Rio Blanco is one of the few substantial
copper projects in the world that can be developed in the next two years.
Recent drilling demonstrates that the resource drilled to date is only part of a
very large copper/moly mineralised system which is why we have revised our
development strategy to provide for mining and milling 20 million tonees per
annum to produce 200,000 tonnes of copper per annum"



Ends





For further information:



Chris Eager, Chief Executive,

Monterrico Metals plc Tel: 020 7448 5088/ Mobile: 07903 158 301



Keith Irons, Bankside Consultants Tel: 020 7444 4155/ Mobile: 07885 356 639





(See following technical note and drill results table, highlighting new drill
holes.)






Technical Note and Tables





The following drill holes represent examples of this style and are tabulated
below.


RB - 60 from - to (m) interval (m) Cu% Mo% CuEQ%

Supergene 126 158 32.0 0.91 0.045 1.19


Hypogene 158 264 106 0.55 0.035 0.77




RB - 61 from - to (m) interval (m) Cu% Mo% CuEQ%

Supergene 78 186 112.0 0.86 0.280 1.04

incl 102 186 84 1.00 0.032 1.20

Hypogene 186 224 38 0.54 0.032 0.74




RB - 63 from - to (m) interval (m) Cu% Mo% CuEQ%

Supergene 140 164 24.0 1.28 0.030 1.47


Hypogene 164 256 92 0.58 0.032 0.77






RB - 64 from - to (m) interval (m) Cu% Mo% CuEQ%

Supergene 84 98 14.0 1.01 0.019 1.12


Hypogene 98 311 213 0.56 0.046 0.85






RB - 67 from - to (m) interval (m) Cu% Mo% CuEQ%

Hypogene 56 474 419 0.41 0.030 0.60

Incl 246 304 58 0.60 0.021 0.73





RB - 69 from - to (m) interval (m) Cu% Mo% CuEQ%

Supergene 88 172 84.0 1.20 0.006 1.24


Hypogene 306 410 104 0.80 0.020 0.92

Incl 306 320 14 1.20 0.023 1.34
Incl 348 378 30 1.03 0.022 1.16






* Copper equivalent grades have been calculated using the ratio of metal prices
(US$1.00/lb. for copper and US$6.20/lb for molybdenum); CuEQ% = %Cu + (%Mo x
6.2).





Glossary

Core Sample Rock samples collected by diamond core drilling

Floatation A means of separating one type of mineral from another after
Concentrator milling, commonly separating sulphide minerals from silicate
minerals.

Grade The concentration of a metal or mineral of interest within a
rock. Grade is commonly expressed as a percentage by weight for
base metals and as a weight in precious metals, grams per
tonne.

Heap leaching A means of dissolving the chemicals of interest out of
mineralized rock by spraying solvent onto a large pile of
crushed material and collecting the solvent for further
treatment.

Hypogene A general term pertaining to mineralization originating within
the Earth, often by ascending fluids. (Primary)

Intrusion A general term describing a mass of igneous rock which
solidifies before reaching the surface.

Metallurgical The means by which minerals and/or metals of interest in the
Processing ore are separated and concentrated into a saleable form.

Metallurgical Laboratory based tests which examine methods of concentrating
testwork minerals and/or metals of interest.

Milling A means of further reducing particle size after crushing
resulting in a sandy or silty finess.

Mineral An occurrence of mineralization of potential economic interest,
Resource studied to the extent that a tonnage and grade has been
estimated and the confidence in these categorized.

Open-pit Extraction of mineralized rock froma pit without the use of
mining underground tunnels.

Ore Reserve That part of a Mineral Resource which has been demonstrated to
be economically extractable.

Porphyry An igneous rock which contains large crystals (phenocrysts)
usually of fedspar.

Porphyry A type of copper mineralization commonly exploited, usually
Copper being very large tonnages mineralization with relatively low
grades of copper and often molybdenum, gold and silver.

Primary Rocks that contain minerals of interest that originates within
Mineralization the earth. Sometimes occurring as a result of fluids rising
from deep within the earth to near surface resulting in
economically extractable concentrations of metals.

Secondary Mineralization resulting from the movement, chemical change or
Mineralization further concentration of primary mineralization. May Include
Supergene Enrichment and Enriched mineralization.

Smelting The winning of metal or amalgam from burning sulphide minerals
at high temperatures.

Supergene Concentration of chemical elements usually beneath and as a
Enrichment result of near surface leaching.




This information is provided by RNS
The company news service from the London Stock Exchange
END

Thanks Sue, I have sold the shares and made a handsome profit, however I am keeping track of it and copper prices. Do u hold some of this as well?

hello monterricans. I bought back some shares this morning. MNA had excellent reviews, in IC and Shares, also newspapers like the Times and Daily Mail. All decided is a BUY. The price has come back. HSBC has been appointed as strategic financial advisor. Numis raised is price target to 490pence which includes the extended ore which they recently announce.

Furthermore take a look at the charts at the beginning of the thread. Does it looks very nice? Upper bollinger twisting upwards broke the 20 and 60 day MA and the 200 MA still intact.

One must remember the fundamentals for this company which is spot on, a very good one. Even is China slows down (which i think may slow only a bit) the demand for Copper, good quality copper is much higher that the supply. The world is developing and raw materials like copper is needed. Huge ecomomic growth prospects comes from Russia, Mexico, Brazil, USA and SE Asia and Latin America

Finally some rumors have been going round as MNA can be a catch for mining gigants like Rio Tinto. Extracte from Minesite. see below

Bid Alert in on at the moment with Junior Mining Companies:

Feature Story

Date : May 27, 2004

Rumours Of Bids Swirl Round Three Junior Mining Companies.

Rumours grease the wheels of markets and there are a number buzzing round Londons mining sector at the moment. Most are constructive; some like the story in the Independent on Sunday tend to be destructive. It claimed that a source within Highland Gold had confirmed that it purchased the Maiskoye gold project in the province of Chukotka from a company called Deerfield Universal and that Roman Abramovich, the owner of Chelsea Football club, is a beneficiary of Deerfield Universal. He also happens to be governor of Chukotka and Russias independent Audit Chamber is carrying out an enquiry into public spending in the region. Ergo, claimed the newspaper, theres something nasty in the wood shed.

Russia, and especially its more distant regions, does not operate exactly like London and Mr Abramovitch is a very successful businessman even if he fell for the old ego trip of buying a football club. Whether or not he spends much time or energy on his role as governor of Chukotka in the Russian arctic is another matter and debates about conflicts of interest carry little weight up there. As far as UK investors are concerned Highland Golds lawyers, its brokers Cazenove and its advisers Fleming Family & Partners all must have been persuaded that the deal was kosher. Agreed they were legged over about the fixed assets at the Mnogovershinnoye gold mine which were being leased from the regional Kharbarovsk government. These were put up for sale and the company had to spend many millions of dollars to buy what it had a legal contract to lease. All part of the learning curve in Russia.

Turning to constructive rumours, they are certainly flying round Monterrico Metals since it announced today that it was bringing in HSBC Bank as strategic financial advisor. Names such as Rio Tinto and Xstrata are being mentioned in some quarters as possible bidders. In fact it matters not which company actually puts its money on the table; what matters is that Monterrico Metals has done what exploration companies are meant to do. It has established through the pre-feasibility study and the initial work on the feasibility study, that the Rio Blanco Copper project in Peru can be developed into a significant copper producer. Recent resource drilling further demonstrates that Rio Blanco is a very large copper porphyry system and that is what tempts the majors. Opportunities such as this occur rarely and it is even rarer for a junior to have 100 per cent control. When, not if , a bid materialises at a sensible price the Monterrico team will have made a lot of money for investors and can go on to repeat what it does best explore.

In a way the same goes for Cambridge Minerals. The company has been beavering away at the Lomero-Poyatos gold polymetallic project in Spain for some time now . Mike Thomsen and Garry Massingill both moved from senior positions in Newmont when the major pulled out of a JV with Cambridge as they wanted to remain involved in the project. By so doing they confirmed that it could prove to be a big one and all the results announced since then from exploration work have confirmed this theory.

A few months back hedge fund managers RAB Capital built up an interest of over 25 per cent in Cambridge through a placing and the story goes that they made clear that they did not think that the Cambridge team was the right one to develop a mine at Lomero-Poyatos. Huge respect was given to the team for its exploration expertise, but a strong suggestion was made and it is always wise to listen to major shareholders that a deal should be done with a developer. Two names seem to be in the frame and the company will make no comment on either. One is Oxus Gold and the other Agnico Eagle. The latter does not seem to have done much outside North America, whereas Bill Trew and his merry men have developed mines from darkest Africa to Central Asia.

It makes sense. The Cambridge team could concentrate on Hereward Ventures with some excellent projects in Bulgaria and Serbia. Mike Thomsen has already declared that he sees plenty of potential in them and he is an explorer. If a deal materialises Cambridge will also have fulfilled its role as a junior and can bow out with a profit for its shareholders. It is what is called proactive fund management and it forces difficult decisions.

The last company round which rumours swirl at the moment is Trans-Siberian Gold. The company has got itself into a very interesting position in the Far East of Russia in a very short time. It plans to bring the Asacha deposit on the Kamchatka peninsular into production late in 2005 and the Veduga mine in Krasnoyarsk should follow in 2006 at the same time as the Rodnikova open pit mine which is 60 kms north of Asacha. Between 2007 and 2111 Trans-Siberian Gold intends to produce at a rate of around 275,000 ozs gold and it has some great exploration potential also. The temptation has to be there for a major which has been left behind in the recent rush to buy cheap ounces of gold in the ground in an underexplored continent.

Minews has no special knowledge of who the bidder might be, but that does not matter. Rumours usually prove to be right if the story makes sense as this one does. Doubtless the regulators will leap around looking for insider traders as and when these deals eventuate. There will not be any unless it is now a sin to guess the name of a bidder correctly. But that is usually a pure fluke.

http://www.minesite.com/archives/features_archive/2004/may-2004/rumours270504.htm

Hello Again.

I topped up again at 365 pence & MONTERRICO is Up 6.21%. 20 Day Moving average just crossed upwards the 60 Day moving average.

We should see another blue day tomorrow. I managed to get an article on Bloomberg relating to more upgrades in Copper reserves in Rio Blanco.

This is getting better and better. I will update you later. It seems that im the only one with Monterrico???

UP 8.56% today. It has break its all time high. It looks like another blue day for tomorrow too.

Top up time guys...

Company Monterrico Metals PLC
TIDM MNA
Headline Director Shareholding
Released 08:37 09-Jul-04
Number 6685A


MONTERRICO METALS PLC (THE COMPANY)

The Company announces that on 8 July 2004, Mr R J Angus, a director of the Company purchased, off market, a total of 104,460 ordinary shares of 10 pence each from family members at a price of 4 per share. The shareholding of Mr R J Angus has increased to 1,349,460 ordinary shares of 10 pence each, which represents 6.62 % of the issued share capital of the Company.







For further information, please contact:-



Mr Chris Eager, Chief Executive Officer, 020 7448 5088

END

more good news


http://www.monterrico.co.uk/s/PressReleases.asp?ReportID=84224&_Type=Press-Releases&_Title=Absolut-Strikes-Gold-at-Monterricos-Pico-Machay

Date : July 7, 2004



Low Stock Levels Are Still The Key.


By Rob Davies


Judging by the price action in the market one could be forgiven in thinking that the steam had completely gone out of the hard commodity market. Over the week aluminium dropped US$10 a tonne; copper lost US$2 and zinc US$9.5/tonne. Nickel was the only base metal to register a substantial move. But its gain of US$257 a tonne needs to be viewed in the context of metal priced at US$15,240 a tonne, not the US$960 a tonne that zinc trades at.

On the face of it there were lots of excuses for traders to move prices around. The first upward move in US interest rates for four years was a significant event. But it hardly came as a shock to the market. Moreover, the increase was only a quarter of a per cent and took the rate to a still very reasonable 1.25 per cent . An increase in the demand for money, as indicated by rising interest rates, should be good for metal prices. But that good news was almost exactly balanced by a much weaker rise in US employment than was expected. An increase of 112,000 was half the forecast number of 250,000 and was sufficient to push money into the safety of US treasuries and drop the yield on the 10 year bond to a 2 month low of 4.44 per cent

In effect the market was saying why should we take risks on equities and commodities when there is so little pressure on employment even after four years of falling short-term interest rates. If employment growth stays weak it implies a less robust spending pattern in the future. While it is true metals did not perform strongly last week, it is equally valid to point out they didnt fall either. The reason for that is the support they continue to enjoy from low inventory levels. On the London Metal Exchange copper stocks are only just over 100,000 tonnes. That isnt much in a world that uses around 10 million tonnes a year and where rumours that a mine in Chile responsible for 3 per cent of world output may go on strike are rife.

Coppers role in the generation and transmission of electricity is its key USP (unique selling point) to use the modern vernacular. China has just completed its massive Three Gorges hydroelectric power scheme, but still suffers from a lack of electricity. To rectify that it is adding the equivalent of the whole generating capacity of the UK to its network every two or three years. That will need a lot of copper, as well as other metals like aluminium.

In the short-term low stock levels will keep the market supported, but there is perhaps more reason to be concerned about long-term prices. Given the scale of consumption now, the already high rate of recycling, and the long lead times of finding and developing new mines the market could stay tight for a very long time. There are few new large mines under development right now and unless some more start being planned soon the current portfolio of mines will be reaching the end of their lives before new ones are developed. But in todays markets few people are prepared to invest on a ten-year view.

NEW YORK, July 16 (Reuters) - COMEX copper futures surged to a three-month peak Friday morning, fueled by fund- and stop-loss buying, as traders said they saw room for more gains due to supply-side concerns in the market and a weaker dollar.
By 9:40 a.m. EDT, active September copper <0#HG:> jumped 1.85 cents, or 1.4 percent, to $1.3060 a lb, the highest for futures since April 19, in a $1.2850-to-$1.31 range. Spot July was up the same at $1.3080, and later months were 1.55 to 1.85 cents higher.
"The market is looking for higher prices because of the labor unrest and the weak dollar, and because warehouse stocks are down considerably," a COMEX floor trader said. He added that first chart resistance, basis September copper, lurked at $1.31 a lb, and then at $1.3150-$ 1.3240. Support was pegged down at around $1.2890.
The dollar fell against the euro after a muted rise in core U.S. inflation for June was reported, signaling the Federal Reserve is likely for now to keep its promise to be "moderate" as it raises interest rates.
June consumer prices rose 0.3 percent, versus expectations for a rise of 0.2 percent. But the "core" number that excludes food and energy rose 0.1 percent, below forecasts for a gain of 0.2 percent.
The greenback extended its retreat after separate data showed U.S. asset inflows fell in May. The euro rose above $1.24 * up about 0.3 percent on the day. A softer dollar boosts immediate demand for dollar-priced metals like copper from traders holding foreign currencies.
Fundamentally in copper, analysts say strong metal consumption mixed with steadily falling refined stocks in exchange warehouses has lent a bullish tone to the market.
On the labor front, No. 3 copper producer Grupo Mexico SA's La Caridad operations are unable to make deliveries this week due to a strike there.
At Grupo's U.S. unit Asarco Inc., workers said Thursday they will resume contract talks with the company in mid-August. Some 750 workers have threatened to go on strike if talks between the company and copper unions are not resolved.
At the London Metal Exchange, three-months copper gained to $2,832 a tonne from its last close at $2,806.
COMEX is a division of the New York Mercantile Exchange.

Monterrico plans new study on Peru copper project
Fri 16 July, 2004 20:17
RELATED REPORTS
MNA.L Profile Report
Business description, 3yr and interim financials, key stats/ratios & analysis.
| 12 pages | 10 | Details


By Eduardo Orozco

LIMA, Peru, July 16 (Reuters) - Britain's Monterrico Metals Plc MNA.L , which aims to develop what could become Peru's No. 2 copper mine, has agreed to carry out a new, fuller joint environmental impact study with the government to convince farmers that the mine will not pollute land and rivers, the company said on Friday.

Peasants in Peru's northern Andes oppose plans to build the $370 million Rio Blanco copper project and on Thursday rejected conclusions of a government report that said the mine's environmental impact would be minimal, regional authorities said.

"Community leaders reject the report and they want the miners to go. They think the project will contaminate their fields and the rivers," said Tomas Saavedra, a government official for the northern Piura region who was present when the report was presented.

Around 1,000 armed peasants in April attacked the copper project near the Ecuadorean border, seeking to drive out the miners.

"There will be another report and this time the company will take part. It will be much more detailed," said Monterrico spokesman Jose Arrieta from Piura. Monterrico says Rio Blanco could be Peru's No. 2 copper producer from 2007.

The impact of mining on the environment has been a sensitive issue since farmers in the northern fruit-producing region of Tambogrande last year held demonstrations and blocked roads to protest plans for a gold and copper open pit mine right under their town that they said would ruin their crops.

Peru in December canceled its option agreement with Canada's Manhattan Minerals Corp. MAN.TO for not meeting agreement requirements, and Tambogrande residents claimed victory as theirs.

Monterrico said exploration at the remote Rio Blanco site was continuing despite several stoppages caused by local resistance. The company has diamond-drilled some 49,000 feet (15,000 meters) of rock to a depth of up to 980 feet (300 meters) to determine the size of the deposit.

"We expect to drill another 5,000 to 6,000 meters (16,400 to 19,600 feet) at this stage," Arrieta said.

Mining analyst Luis Bravo of Lima-based Centura SAB brokerage said Monterrico needed to investigate peasants' demands more carefully if it were to resolve the conflict.

"It's better to have the opposition before the investment starts. It's very important for the project sponsors to understand a bit better what the people need and to explain the environmental impact and compensation studies," he said.

The mine, which would take between 12 and 18 months to build, would have an average output of 200,000 tonnes a year of copper, Monterrico's Chief Operating Officer Ray Angus told Reuters earlier this year. That production rate would equal a quarter of Peru's total 2003 copper output, Monterrico has said. (Additional reporting by Robin Emmott)

For you guys : press mention in the Guardian Newspaper today

Monterrico Metals, the copper company, was marked 14p higher at 394.5p, amid talk that two Canadian firms have expressed an interest in acquiring it. According to yesterday's gossip, they are prepared to offer around 600p for Monterrico.

http://www.guardian.co.uk/business/story/0,3604,1273290,00.html

I went long these on the latest pullback.

600p is good for me! Thx SueHelen. ;-))

Might consider a couple more early Monday if there's legs in this story.

Hey Monterricans.

Any more hens on the Canucks that want Monterrico. I'm unable to trace anything in Canada...any news would be very welcome.

Might wan't to try checking out www.coppernews.com - gives some updates on the state of copper mining.

Sooner44

Hi, it is up 8.69% today with excellent more that average volumes... maybe some news coming soon.

now 11.31% and volumes rising

and finished at 16.31% By the amount of volume, i would like to think that some good news are on the way very soon. Let see it it breaks the 500 tomorrow with some good news. Thanks

xmortal - Why such a major jump? The Times ran a good article today on the state of Copper and again raised the issue of bid speculation, again suggesting 600p bid price - but nothing bubbling in the rumour grapevine as to bidders...any thoughts?

Sooner44

The rumours been around for at least 2 months so I guess so long it pushes the price up, i dont really care. Lets hope some news are out soon to keep the momentum.

Up 5.58% today. and passed the 500p mark. nice ride

The Indpendent reckons they could reach 700p. There should be some good news soon regarding Rio Blanco. What a great couple of days.

Jacks: could you post the article of the Independent pls?. Thank you.

Hey, currently 519 and rising, and still no news! Like to see the Independant article - that is a big statement, I wonder where they have reahced that figure from?

is it in todays, independent or yesterday?

XMortal. The article is in todays paper. It makes impressive reading. I have made a decent profit and getting a bit twitchy, I will now hold on and not sell as planned. Any tips would be much appreciated with Monterrico

XMortal. Sorry not able to post the article. Gave the paper to a friend at work who now wants to jump on the band wagon.

I first noticed them in an article in shares mag at 80p but really got in at 120p. Then i sold at 370p and went back at 360p So I am in a profit already an twice. I have a feeling some mining co will approach them eventually. I will hold at least till it gets round 550-600p. I dont much about monterrico themselves but Peru itself is more stable now, more and more mining cos are piling at it has huge mineral reserves. It is the second most important industry after fishing. visit: www.peru.com You may get an idea of where the country and some useful links. Beatiful country and yummy food. Been there twice.

Got it:

Fill ya boots.

Todays Independent.

Monterrico Metals jumped 68.5p to 488.5p on talk that the company's management team had given mining majors until 1 October to table bids for the company. Back in May, the group in effect put itself up for sale when it appointed HSBC as a strategic adviser. Numis Securities believes Monterrico's directors, who are major shareholders, are keen to crystallise their interest in the company so that they can go on to start a new mining venture.

Monterrico's major asset is Rio Blanco copper project in Peru and the broker suggested yesterday that it may soon come out with a statement upgrading the size of the find. Numis hiked its price target all the way to 704p.

XMortaling. Will you like me be buying some more? I will be looking to sell at 6.50. What about you/ others?

Hello Jacks. I cant really advised you to buy. The decision is yours. I could add more if only have more cash. My holdings is around 3000 so it is not bad.

Hi Xmortal, they are still on the up today. The progress is now slower than earlier in the week. I will watch for more news before diving in. I have other mining shares, Griffin and Manorivers, both have made progress this week.

Blasting up over the last couple of days. I have seen a recent price target of 700p - and rumours of a sale price of between 670-700p (Evening Standard).

yes sounds good. I have taken my profits around 530p. Still I feel i can go up. Good luck to all of holder. Thanks

Anyone have a view why the sp has taken a hammering today?

Looks like the trip the company arranged for brokers last week was a success, since the sp has been spiking in the last few days.

rgrds
gk

sp in free fall! Any idea what the heck is going on?

Been coming back teh last couple of weeks & today its gone ballistic +12% so far today. Whats the news?

Have been watching it rise and recoup my losses. Have not seen any news on this one. Would love to know what is going on though!!

Polish company has stated it wants to buy out the mine!

Big jump up today - anyone aware of any news. Haven't seen anything myself

I know there have been problems with the locals, but is anyone else worried about how much these are falling by, almost daily...

These may go as low as 300. nothing gonna happen for the next 2/3 months and the sp will drift IMO. I'm waiting on side lines will be interested around about Feb/Mar 2006.

With regards the news released yesterday about the feasability study delay, is this not a huge over-reaction that the sp dropped 65p !! Any comments would be appreciated

Does anyone know if there's a good chance that with the peruvian elections looking as tho they're heading to a right wing / ex military politician, that these shares could well be worth zip in the very near future if he decides to take back the various mines....? Surely this is a huge possibility

Take it as no replies, everyone must have bailed already !!

It's not looking that good I must say as they had trouble raisng more cash recently. Though they did manage in the end. drift back to 200?? just another guess.

With no definite news with regards the elections, why is this going up quite nicely again ? Typical since i bailed out at around 2.50 having got fed up with the daily drops....

I like the look of this one and the shares look relatively cheap considering what Monterrico is sitting on, (Potentially one of the largest copper mines in the world), and the good article in shares magazine may have swung the negative feeling towards MNA. Any Thoughts?

Agreed, but a great deal still hinges on the election result

When is that decided?

Looks like it's down to a two horse race now between Ollanta Humala and Alan Garcia with no candidate getting the needed 50% of the vote, with the final voting set for June 4th. They're both left wing politicians which is worrying, with Garcia not so extreme in his views tho, which definitely makes him the more favourable candidate for monterrico. Here's hoping

Thanks for that info, are you predicitng some sort of grab of assets if Humala is appointed?

Copied from bbc report, it says Humala has promised to redistribute the countries mineral wealth and also opposes a free trade agreement with the U.S. Both candidates have also said they would consider further tax rises on resources. Recent polls suggest that Garcia is in the lead so far with 54% of the vote if it were decided now, but who knows what will happen support-wise between now and 4th June.
However downbeat i sound, this company has such serious potential with the assets it already owns, so i'm just going to keep an eye on it for a little longer before jumping back in. Good luck if you hold already

Thanks, that too is my main reason for holding them, the copper asset could be the largest in the world. They said something like 25 million tonnes could be mined a year, and at around $7'000 a tonne, MNA could be huge.

Pleasing Resulta and I think the market interpruted them well too. DOES ANY ONE KNOW THE election result day?