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

">

">

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?