Monterrico Metals Share Discussion Threads

[arf dysg] 03/5/2007 11:23

I thought Zijin were trying to get the Michiquillay mine. What's the story? Did Anglo American outbid Zijin?

[enamel] 03/5/2007 09:50

Anglo American has brought The Michiquillay copper mine from the Pervian Government for $403m.

[shaken] 03/5/2007 08:44

and your shares a lot less as they will have issued more to raise funds.....

[karm] 02/5/2007 18:29

Once they get the license it will be worth a lot more.

[the_doctor] 02/5/2007 17:35

Yes, I did wonder that, although Zijin will still auction it to the majors

Furthermore, if Zijin wanted to sell to a major, wouldnt it be better off retaining the 30% rather than selling it?

[enamel] 02/5/2007 17:33

Because if they had entered the bidding the price of the prize would have soared.

[the_doctor] 02/5/2007 17:28

doesnt make sense - why would the miner pay more to Zijin when they could have entered the bidding and got it cheaper.

[enamel] 02/5/2007 17:27

It would not surprise me if after 6 to 12 months Zijin sold out at a large profit to a major mining company.

I am begining to suspect that the directors sold out because they knew that they were unable to raise the funds to develop the mine and that MNA was in danger of going bust.

[the_doctor] 02/5/2007 14:27

Well, its more a sad reflection on the mining majors.

No other bidders came in, so investors cant be blamed.

But then, I guess it suggests that they feel they have enough copper from other, more cheaply accessible/ lower investment sources?

[shaken] 02/5/2007 14:08

this is like watching enamel dry............

[enamel] 30/4/2007 22:46

Why would anyone buy stock at 350p or more when Government approval and funding is so undecided?.

Anyone that does is taking a huge gamble that everything will somehow turn out all right.
Are institutions known gamblers? I think not.

The fact is that MNA shareholders allowed themselves to be pressurised to sell out cheaply for a short term gain.

It is a sad reflection on AIM and the City. I will not waste any more time by posting further. I wish posters better luck in the future.

regards and good night to all,

enamel.

[shaken] 30/4/2007 20:55

karm - why do you think that? and that and that? what do you know that nobody else knows??

[karm] 30/4/2007 16:38

I don't think the Chinese will let the share price fall. IMO they will move this up to raise funds. If there is stock that Zijin have to release I'm sure the institution will take it off there hands.

[dmelon] 30/4/2007 16:20

good luck to all - this was a strange one.

i put my money in AU. and TOM. if they ever get bought out i hope it is more straight forward than this one.

[shaken] 30/4/2007 16:07

Mining Journal Online - London,UK
Zijin plans to retain a stake in Monterrico of not more than 70%, and will sell shares to create a free float of at least 30%.

WHEN, not IF, MNA start selling shares do you think that will that make the price go up? maybe some institution or other major player might wish to hold shares but why would they not already be holding?

Does MNA have any interest in keeping share price up - I don't think so... brave holders all......

[shaken] 30/4/2007 13:46

bad karma karm..........

[karm] 30/4/2007 12:42

The game is just about to begin.

[terropol] 30/4/2007 12:25

This Game is OVER gents. Time to move on. I am on AAZ now...

[shaken] 30/4/2007 12:03

then that's some of the remaining 10.1% - but why would one want to buy if most have sold and those who have not ares till selling?

[karm] 30/4/2007 10:06

You can still buy online at 354p

[shaken] 30/4/2007 09:47

CONGRATULATIONS TO:

karm, konkel, go-baby-go and other PIs still holding...

You are holding some of the remaining 10.1% of stock - you are clearly amongst the few who have got this deal right, or are you ?

The Board of Zijin Consortium is pleased to announce that as at 1.00 p.m. on 27
April 2007, net valid acceptances of the Offer had been received in respect of a total of 23,649,509 Monterrico Shares, representing 89.90 per cent of the voting rights normally exercisable at a general meeting of Monterrico.
(this means that most if not all institutions have dumped MNA at 3.50)

[go_baby_go] 27/4/2007 20:40

Haven't sold out. Sold 5k put still hold 55k shares.

[konkel] 27/4/2007 18:39

Even if they get 100% acceptances there will still be a quote and a free float of 30%; this will come from either up to 30% of acceptancees opting for the scale back option and, if this doesn't happen, the Chinese will "place" stock to reach the required level. My view is that anyone wanting to sell will have already done so either in the market or by accepting the bid and therefore there won't be any sellers of the stub equity. In my experience, a stock in which there are no sellers normally only goes one way!! Ergo, I'm sitting tight.

[karm] 27/4/2007 17:53

Price will start to rise from next week IMO.

[bageo] 27/4/2007 17:46

Zijin undertook to maintain a shareholding of not more than 70%.