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

Price is getting marginally stronger actually.

There is potential for more news this week or next, so plenty of things going on.

Trying to read this and they're heading negative. This doesn't smell like a high price take-out. Will continue to watch with interest. ;-0

Some profit taking at present, which is to be expected given the big rise up from 165p to where it is now, and the fact that its only a "very early approach".

If people want to take profits then fine, I will wait for any drop to stop, and buy a load more, just like most others will I am sure, whether they sold or not ;)

Profit-taking on very low volume this morning PP? Hmm

I will re-enter if they come back far enough, but that is some way below current levels. I do hope they get taken at a decent price, but please don't over-expose yourself as these things can easily fall apart.

Best of luck,
Al
;-)

Big Al, I think 400p would be the very minimum offer, however once a BFS is done and more details out, then a figure far ahead of this easily possible.

Interesting times ahead.

Just bringing this to where I can find it without going right down the BB.

I'm still watching, but it's all gone quiet. More perturbingly the share price has done nowt. Hmmm.

Its still undervalued imo Big Al, even after the rise.

Share price up today. There's support out there.

PP - may be, maybe not. Don't see it myself, but hey! ...... such is life in the market

;-)

If this does suffer from a takeover I'm going to go right off my trolley.

Why "suffer" from a takeover Arf Dysg? Doesn't sound like too bad a strategy to me, dependant on the price obviously, especially if there's more than one interested party.

queen1, I was being ironic. What I'm actually doing is buying more, hoping that there WILL be a takeover. I reckon that the net present value of the mine is 12 pounds a share. This goes up a bit if they borrow money from the banks instead of paying for the mine infrastructure costs immediately. 12 pounds a share assumes a very low copper price, around $1.50/lb. Every $0.10/lb increase on the copper price adds 3 pounds sterling per share to the net present value.

The feasibility study, out any day now, should clarify things.

It was planned for December, but if it slipped a month or two it should not make any difference.

Fair enough Arf Dysg. 12 a share would be lovely but a little rich I feel. A takeout price around 5 though shouldn't be out of the question.

December would be nice but I'd still be happy with a little new year present.
5 a share would value the company at 130m. That really isn't much considering the likely yearly output of copper.

Suppose the mine capital cost is half a billion pounds, that means there's only a fraction of that left over for the shareholders. I suggest that if the value of the mine (in today's money) is only slightly greater than the capital cost, margins are thin enough that the whole enterprise is dubious. I think margins are a lot better than that.

If even a fiver was in the offing, I'd really expect this to be trading at higher levels than this.

12 is sheer fantasy IMO

Fair points both. I'm sure the market will lead the way eventually.

Shares Mag of 26th Oct quotes Seymour Pierce as saying that a bid is likely to be around 403p a share.

Which is only 107 mil and seems cheap to me.

however, if the market is only valuing the co at 67 mil, then the likelihood of a half-billion pound takeover seems a bit reomote to say the least.

Will be interesting to see if the BFS has an effect on the SP. Might have a pop at this if I can free up some cash.

st - see my post 69.

There are always those in the know and on the day of announcment the price didn't even threaten 4. That says it all IMO.

Big Al, you have to admit that the "announcement" was couched in the vaguest of terms and concerned a "very preliminary" bid approach.

So less of a bid, more of an expression of interest. Surely one would expect the SP to go a lot higher if i.) the JORC/BFS was in place; ii.) the bid was looking a lot more serious and real money was actually being mentioned.

I think 5 a share, or 140 mil, for this co would be pretty cheap.

WDIK, but would be interested to hear others' thoughts.