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

Not high risk now at all - even lower risk.

Reuters and Bloomberg have reported that Monterrico Metals's biggest shareholder (Greater Europe Fund) have rejected the offer. Their valuation is quoted as being in the range USD 500M to USD 1000M. Wow! That puts the share price at a minimum of 9.76

Shareholders rejecting the offer means positive price action. The risk just got even lower.

I was surprised no-one commented on this yesterday. Any thoughts, guys?


Zijin group says level of acceptances needed for Monterrico offer cut to 51 pct
AFX


LONDON (AFX) - Xiamen Zijin Tongguan Investment Development Co Ltd, or the Zijin consortium, said the level of acceptances required for its acquisition of Monterrico Metals PLC to become unconditional has been lowered to more than 50 pct from 70 pct.

As of yesterday, Zijin had received acceptances representing about 39 pct of Monterrico's share capital.

The consortium said it will not increase its 350 pence per share offer for Monterrico and added that the deadline for the offer, which had been extended from March 27 to April 13, will not be extended again.

The consortium comprises Zijin, one of the largest gold producers in China, copper producer Tongling and Xiamen, a large state-owned conglomerate.

sounds like a fairly typical chinese ploy to frighten some undecideds into selling out .... whether or not they should is a personal view

Indeed.

I was fairly astonished that such a large proportion as 39% had accepted. Only 11% and they could block other moves effectively. I don't see it a very bullish for an upward price move or am I overly pessimistic?

Interesting developments this week.

I see no response from anyone over yesterday's announcement that the Chinese have declared the thing unconditional.

There was a piece in the Times this morning - you have 2 weeks to accept the offer or risk diluting your holding should Zijin keep the listing an draise new funds.

Anynoe still holding as it seems "game over"?

I'm still holding - not sure what to make of it at the present.....

Long-term: as we move towards production, you'll have a share in a mine, so the price will go up.

Short-term: the Chinese might need to buy in the market to get up to 70% but I'm only guessing. That would put the price up.

Raising funds shouldn't be a problem for holders of the shares. Any calculation of value of the shares includes future profits and dilution. Even including all this, the price will go up as we move towards production.

I think you miss the point. The Chinese have more than 50%. I refer you to my post #136. They are in control and it's pointless really for the average punter such as ourselves to expect any premium down the road.

It'a game over unfortunately. Take the money and stick it somewhere with potential IMO. MNA treated you well, but it must be time to move on.

So what happened to the other 10-20 parties that were supposed to be interested??!!

Red herrings?

The Chinese are picking up all sorts of companies with commodities assets for their own ends. They've been doing it for several years. My belief is that once they have >50% of a company they won't sell out as they wish to control their own destiny, i.e. they are picking up supplies of oil, copper, etc, etc at current prices which in several years will look cheap.

They ain't going to sell out for any price, therefore IMO, the share price of MNA will remain 350p or thereabouts. Time to pick something that might rise?

I think my logic stands up.

Interesting turn of events the past couple of days, but I can find no news to be driving this price fall.

Have I missed something?

ttt

Anybody out there? Is there anyone still holding out now?

I sold out at 350p Big Al. I still feel that it was undervalued but was looking more and more risky to hold. Good luck if you're still in though.

I flogged my last on the day of the bid, queen1. I've said all along it was never going any higher than that. It's unfortunate for those clinging on, but I've put the money to far better use in the intervening months! ;-))

Me too Big Al. Have invested in XTR this week and seen an 18% rise already which is nice!

spoke to co, dismayed at the further fall, expect 'action' soon, shares started tick back up.

coming back nicely now, got the impression they were to announce something good but obviously couldn't say over the phone.

Is penalpower still in this? All the hallmarks.

forced sellers pulled it down to crazy levels, coming back nicely and proving tricky to buy in size.