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

Taken part out. ;-)

JV ?

Cashed in a couple more. ;-)

No selling from me, expecting news next week, and not going to sell myself short of what potential gains are to be had on major news.

Cannot knock people for taking profits, sometimes you miss out on bigger gains but that is part of the game.

PP

Been taking profits when I've deemed fit for many years. No regrets. Made about 45% in around 4 weeks. Compound that over the year!! ;-))

Expecting short term pullback so may increase holding again if appropriate, but for now, that's nice and I'll run the rest.

Rio Tinto on the prowl for new projects......would be nice if they are after another Copper play, but in Peru ;)

Yestedays Rio Tinto RNS :

http://www.investegate.co.uk/Article.aspx?id=200610181256446585K

Yes :)

Possible bid news released on RNS today :)

Nice one PP

Out completely ;-)

No bid below 500p IMO, and we should see some more gaps up, when the weak sellers dry up.

The reason for a big mark up this morning and come slowely down is to get people to sell IMO, will not be too many sessions before its up above todays open IMO.

Do we have a flavour as to who may be doing the bidding? You mentioned Rio tinto earlier PP. Any other thoughts?

500p may be a tad ambitious IMO PP. She's not spent much time above that in the conpany's whole existence. 400p is a possibility, but I'm sure they'd have opened it higher if 500p was likely.

Best of luck with it and never forget it could all come to nothing too.

Big Al, its grossly undervalued.

Small cap takovers are often way above the price when the bid talk comes out. They are buying the future, not the now, and so must pay a premium is the potential in future is large.

queen1, no idea, happy to keep holding and adding and waiting.



A reminder :

* Numis has a buy rating and 607p target price for Monterrico Metals

http://www.citywire.co.uk/News/NewsArticle.aspx?VersionID=85962&MenuKey=News.Home

PP - I'm fully aware of the Numis rating and I've been caught up in numerous takeovers before. They are buying value and in their eyes. That's never a broker's target price unfortunately - I wish it were.

http://www.hemscott.com/news/comment-archive/item.do?id=14641

Monterrico leaps on approach

Kam Patel, 20/10/06 14:17

Shares in Monterrico Metals, the copper miner boasting a potentially world class find in Peru, shot up after it revealed it is the subject of a 'very preliminary approach'.
The company's shares have raced ahead in recent days, rising a hefty 33% in just the last seven days to yesterday's close of 261p. The announcement of an approach today led to them soaring another 20% or 51.5p to 312.5p by midday.

In its very short statement, Monterrico says that no terms have been indicated or details provided by the party that has approached it.

Monterrico's flagship project is the 100% owned Rio Blanco copper/molybdenum prospect in Northern Peru. A bankable feasibility study for the prospect is underway with the group reckoning on low-cost open pit mining operation.

Production is due to start in 2010 and reach 25m tones per annum of ore producing 220,000 tonnes per annum of copper in concentrate and 2,500 tonnes per annum of molybdenum, which would make Rio Blanco one of the 20 largest copper mines in the world.

There is plenty of upside potential, however, with broker Numis reckoning that there is 'excellent' potential to double ore production at the site, which would more than compensate for a fall off in the grade.

Results of the feasibility study are due for release in December. An environmental impact survey is also near completion.

In the wake of today's statement from Monterrico, broker Numis reiterated its buy stance on the stock. It has a price target of 607p.

Seymour Pierce, meanwhile, cautioned todays news might be a little premature as any bidder may want to await full details from the feasibility study. Still, it believes the shares look 'very good value' and reiterates its 'buy' stance.

It has not been plain sailing for Monterrico in Peru. Last year its share price suffered after violent protests by protesters who allege mining at Rio Blanco will contaminate coffee crops and water supplies for farmers across the region.

The company has always insisted it has strong local and national political support for the operation.

A delay to the bankable feasibility study for Rio Blanco earlier this year further dented sentiment over the stock.

Even after the sharp appreciation in the share price in recent days and today, the stock is well off the 590p all time hit in October 2004.

It may be that a bid is coming now, before the results of the feasibility study in December, because the bidder knows they will be good, which will send the sp soaring, so they are now trying to get it on the cheap.

PP & q1

Don't wish to stick a downer on things, but feasibility studies, etc are very subjective. Keep a calm head here. ;-))

Well, even after the rise through 310p, Numis say buy, so do Seymour, and even conservative Seymour say MNA is "very good value" at present levels.

It would make sense to start bids now, ahead of BFS finalising.

It is obvious the BFS should greatly increase the prospective resource.

After BFS Numis could raise their target price to anywhere near 1000p if the BFS confirms the thoughts, so a takeout pre-planned and ready at say 750p would make sense.

Its all speculative, but the very good thing is weak holders have sold out, and now we should hopefully see the big buyers push the price upwards, as they will know over time exactly how much this will go for.

Happily holding and adding :)

Agreed Big Al but I also feel there's legs in PP's figures as well. I guess we'll just have to wait and see!

20:20 Oct 06 Copper Day presentation by MNA for those who would like some more info on MNA :

http://www.mclwebcasts.com/Copper-monterrico-6-10-06_files/Default.htm