20th Oct 2006 - Media Bid Comment : Link to Hemscott Article Click Here


8th Oct 2006 - Mineweb Article : Link Click Here




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

Major Shareholders :

Framlington 9.05%
ISIS Asset Mgmt PLC 8.44%
Raymond John Angus 5.59% (Director)
Lehman Brothers International (Europe) 5.40%
Christopher John Eager 4.96%
AMVESCAP PLC 4.56%
Frederic Zachary Haller 4.28% (Director)
Aviva PLC 3.50%
Allianz AG 3.08%

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Broker Recommendations :

Fortis Private Inv Mgt 15-09-06 BUY
Collins Stewart 14-08-06 BUY
Hargreave Hale 18-05-06 BUY

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Shares in Issue

26.31 million

If the links do not auto open the player on clicking, then open WM or RP and then copy and paste the link into the "Open URL" function.


Interview With:
Richard Ralph CMG, CVO
Executive Chairman

Dated September 14, 2006


Listen with Windows Media - Link Below :
http://www.wallstreetreporter.com/uploaded_files/2006/September/14/wma/MonterricoMetalsPlc.wma

Listen with Real Player - Link Below :
http://www.wallstreetreporter.com/uploaded_files/2006/September/14/ram/MonterricoMetalsPlc.ram
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Director Trades :

Director Buys :

21/12/2005 R Angus BUY 10,000 @ 376p = 37.6K
21/12/2005 C Eager BUY 5,000 @ 376p = 18.8K
20/09/2006 Frederick Haller BUY 10,000 @ 167p = 16.7K

Why is it all small outfits feel the need to release these inconsequential RNSs which clog up the newswires.

That tells us nothing new .................... unfortunately! ;-)

Big Al, as obvioulsy the buyer is trying to buy cheap, and MNA are doing there best to get the best price, which means keeping everyone aware of events.

That is why the news is released "without" the potential buyers consent.

Yeah, they're all at it, PP. It pisses me off the management take the time to release this crap - they could be adding value by other means IMO! ;-)

I suppose the one snippet which is new is that MNA have supplied all the "due diligence" information but fundamentally that means serious talks have been going on and continue.

Price is up some more... what does this to to the downtrend?

...... and the moral of the story, Al, is take notice of volume. Muppet!

;-)))

My calculations of NPV put these shares as worth more than recent trading levels. I've been a long-term holder for a relatively short time. :)

Arf - I looked at the chart whilst away working. I knew the 220-240p level was important. I know an increase in volume is important. What did I do? You guessed it.

BTW - this has nothing to do with bids, etc. It's simple TA at support, including a retest of a double-bottom (+/-)

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/02/04/cnchina04.xml


I was expecting around 400p, but cannot complain at 340p considering we were allowed to buy at 170p recently, its a bagger for me, but the Chinese will get it cheap.

You'll notice on the first rise that the price went straight to 340p before falling back.

And for those who still remain under the impression that the Chinese are stupid and need foreigners to help them exploit their own resources, you'll see that in fact they are continuing to buy up all the resources in the world, and sell their own defunct or non-viable resource area's to AIM companies :) imo.

Much better than the "modest premium to 257p" that was touted initially.

Just goes to show, the price was known all the way back in October, PP? ;-0

Indeed it was Big Al.

Not that I'd imply anything by that, don't you know. Stange how it always seems to happen that way, isn't it? ;-)))

There were rumours of more than one interested party - several in fact. Do we feel there will be any counter bids or is this likely to be as good as it gets?

Trading only at a slight premium, queen1. Might imply little chance of anything better, but you never know. Must say I'm not inclined to take the risk.

How do you get 350p as only a slight premium to 257p Big Al?!

queen1 - meant the current trading price. Often I notice that in bid situations, once the first bid is in, companies can trade significantly higher that the bid price because those in the know expect a better offer to come. I'm not seeing that this morning really. Sorry for the confusion. The 257p bid is irrelevant.

From AFN :

grigor - 5 Feb'07 - 12:13 - 1006 of 1018



http://investing.reuters.co.uk/news/articleinvesting.aspx?type=stocksNews&storyID=2007-02-05T115057Z_01_NOA532653_RTRUKOC_0_MONTERRICO-ZIJIN.xml&pageNumber=2&imageid=∩=&sz=13&WTModLoc=InvArt-C1-ArticlePage2

Monterrico Metals agrees Chinese takeover
Mon Feb 5, 2007 11:51 AM GMT

(Reuters) - Peru-focused copper miner Monterrico Metals has agreed to a takeover by a Chinese consortium valuing the company at around 94.6 million pounds but the miner believes the offer underestimates its value and hinted at an auction.

........

"We have made soft irrevocable undertakings and that yardstick (the 350p/share offer) may greatly underestimate the intrinsic value of the company," he said.

"An auction, if it were to occur, could extract greater value for shareholders."

........

"I think the project is worth a lot more and this is a bit of a cheeky bid by Zijin ... which should flush out other interested parties," Numis Securities analyst John Meyer said. He raised his price target to 633p from 589p.

........

Meyer recommended shareholders wait before making a decision on the Zijin offer because other offers could come in.

I hope for holders that it comes to fruition, but I've always been a bit sceptical of analysts!! Mind you, a valuation of 5 was bandied about in the Telegraph (from memory) 2-3 years ago.

Time will tell, I guess.

Just as a matter of interest, has anyone sold into this rise?

I'm not selling, no no no no no. The price peaked at 370p today. That was just a symptom of the fact that MNA is worth more than 350p. That was just to whet our appetite for the real bid which is doubtless coming along.

Big Al, I notice that in post 107, on 2nd February (Friday) you said "BTW, this has nothing to do with bids, etc. It's simple TA..."
I disagree completely. It was entirely to do with the bid.

C'est la vie Arf. Did the bid drive the TA? Did the MMs manage to drive it down to a natural buying level in the timescale it took for the TA to work? Strange place these markets.

Either way, nice one for those who still hold. Congrats. I'm only jealous because I failed to re-enter at a good level last week. LOL!