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

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!

Hi all - As I questioned a few days ago, are there more bids in the wings? A SP of 366p when the bid is 350p seems to suggest so.

Big Al - thanks for the explanation.

Numis seems to think it's worth 6+
Seymour Pierece says "ultra-conservative" assumptions give a price of 4+

It seems that the Chinese are trying to get it on the cheap then. The worry is that the MNA Board seem content with 350p.

potentially interesting play if one dares .... that said, downside looks very small

I bought at 300p and held my nerve when it fell do sub 200p as I had faith in the assets and prospects of the company. So 350p would be a nice profit but 400p would be better!

not sure what to do about this one .....am quite tempted to buy, but volumes are small (avr about 98k tho today 168k) which implies low liquidity

Missed the last bid therefore potential value gone?

not necessarily - i.e. if there is a counter