Monterrico Metals Share Discussion Threads

[papalpower] 09/10/2007 07:55

Well, the share price was 180p when the thread started, and it has in the recent past been over double that, so not bad, considering the full potential of the asset was never realised now, then, or so far.

[shaken] 09/10/2007 07:45

This thread should really be visited by the TSO ... should have read massive potential DOWNSIDE............

[papalpower] 05/9/2007 16:34

RNS Number:2643D
Monterrico Metals PLC
04 September 2007

AIM: MNA


MONTERRICO RECEIVES NOTIFICATION OF PLACING OF ITS SHARES

Monterrico is pleased to announce that Xiamen Zijin Tongguan Investment
Development Co., Ltd ("Zijin Consortium") has today announced that it has
entered into a conditional placing and purchase agreement (the "Agreement") with LS-Nikko Copper Inc ("LSNC") for the proposed sale by the Zijin Consortium to LSNC of 2,630,606 ordinary shares of 10 pence each in the capital of Monterrico (the "Shares"). These Shares represent approximately 10% of the total issued share capital of Monterrico. The Shares are being placed at a price of 370 pence per Share, which is at a premium to the current share price.

Completion of the Agreement is expected to occur on 21 September 2007 subject to satisfaction of a condition precedent.

Following the acquisition by LSNC the total voting rights will be as follows:-


Total Voting Percentage of Total Voting Percentage of
Rights Total Voting Rights Rights Total Voting Rights


Zijin 23,649,509 89.9% 21,018,903 79.9%

LSNC - - 2,630,606 10.0%


LS-Nikko is a Korean joint venture founded by Korea's LG Cable and Japan Korea
Joint Smelting. It is the second largest copper smelting company in the world.

Please refer to the corresponding TR1 forms announced today for further
information in relation to the above holdings.

Mr Richard Ralph commented: "The fact that a major player such as LS-Nikko
Copper Inc should have wished to take a substantial shareholding in Monterrico
Metals plc, and at a premium to the current market price, is a very welcome and
encouraging development. It undoubtedly represents a demonstration of
confidence in both Monterrico Metals and in the successful future development of its world class Rio Blanco copper/molybdenum project in northern Peru."

[tastyteaser] 24/8/2007 07:11

Cerrito: I agree but the take over was based on Zijing promise to keep 30% float in AIM for 12 months only - so in 9 months they have no requirement at all to do this if they wish

[cerrito] 23/8/2007 21:53

tasty teaser
my question
but if the copper market stays strong and there are no major world political/economic bumps once approval of the EISA is in sight-albeit in about nine months time- they will be able to place these shares at well over 350p

[cerrito] 23/8/2007 21:48

agree stefield is a smart move I wonder if it will have to be copied albeit for much smaller amounts to all the communities disrupted by the pipeline
anyway congrats to those who bought at 270 a couple of weeks back

[stefield] 23/8/2007 07:21

a nice 'bribe' to keep the locals happy. looks like a smart move to me.

[tastyteaser] 17/8/2007 12:03

Shareholder
Shares
Percentage





Xiamen Zijin Tongguan Development Co. Ltd
23,649,509
89.9%



Information correct at 15 August 2007.


Xiamen Zijin Tongguan Development Co. Ltd ("Zijin Consortium") acquired its interest in Monterrico as a result of a recommended cash offer for the share capital of Monterrico (the "Offer"), which was agreed between the Boards of Zijin Consortium and Monterrico. The Offer was declared unconditional on 12 April 2007, and when the Offer period closed on 27 April 2007, Zijin Consortium declared that it had received valid acceptances for 23,649,50 shares which represents 89.9% of Monterrico. Zijin has announced that it intends to retain the listing of Monterrico on AIM and intends to restrict its shareholding in Monterrico to not more than 70%. Accordingly, Zijin Consortium has stated that it intends to place the relevant number of securities with Independent Placees to achieve a Free Float of not less than 30% Monterrico shares.

From AIM 26 Disclosure - when will free float be issued so we remaining shareholders can get some upside?

[cerrito] 08/8/2007 21:59

seems we have missed the boat to get back in today's volume has been over the weekly volume in the recent past

[cerrito] 08/8/2007 08:26

Stefield as you say a concern is why they need a listing and the expenses it involves and the hassles of dealing with the likes of us and I am not sure how to deal with that
The stability agreements: First I have heard of these and cannot remember a reference to them before..I am sure better to have it than not, but not sufficiently important for any leaking of these agreements to have driven the price up yesterday.

[cerrito] 07/8/2007 18:51

Coincidentally with today's price action I have today been looking at this having sold out all my shares in the tender offer.
The situation is somewhat more complicated than saying you cannot trust the Chinese. Perhaps I am being naïve but I think they will be keen to be seen playing with a straight bat and I took wording in the Annual report to mean that they were currently looking at maintaining their AIM listing for more than one year.
As mentioned on this board and in the Seymour Pearce note how they are going to sell down 19% of their shares in the thin market that we currently have is not clear to me and presumably the Chinese will have to take a loss as I see nothing on the horizon that will bring these shares up to 350 with them as an unfinished seller...indeed there must be stock exchange rules that establish that they cannot do this when they have price sensitive information-as for example news that the EISA is ready.
Another downer is that we are a long way from getting sign off from the Peruvian authorities for a go ahead...ie MNA have to make a decision on the pipeline and if they decide to go ahead with this there will be modifications to their EISA report and then there is the 6/8 month delay in getting approval.
On the other hand they have the ability to get loans like the $8m loan to keep them in cash and nothing in the world economy has meant a change in the assumptions that were used to justify a 700p price. President Garcia seems to be onside although of course they will not have started producing by the time his Presidency finishes.
I am intrigued but not buying at the moment but could be tempted at 250ish.
The next event I guess will be the publication of the interims which may well contain further information on the EISA and perhaps anything noteworthy on the Social Programme. Given the simple accounting situation of the company ie they have no operations-their accounts could have been finalized by mid July so we could get news anytime between now and the end of September.

[shaken] 07/8/2007 17:57

NO???????????

nice one stefield - how much you going to invest?

[aspers] 07/8/2007 13:50

NO!!!!!!!!

[stefield] 07/8/2007 10:25

from the AGM

Mr. Ralph also reiterated that the Company will maintain its AIM listing and
also intends to improve the flow of information to investors.

i think the chinese obviously have the cash to develop the mine, so should still be worth a lot in the future. its just a question of trust !!

[stefield] 07/8/2007 10:22

moving up a bit today. would anyone ever consider buying back in ??

[enamel] 06/6/2007 09:02

The new Management are very optimistic.

Reminds me of the PI shareholders who were very optimistic until they were screwed.

Perhaps the new management will get screwed.

[aspers] 04/6/2007 16:17

Walked away with a nice profit but not what it should have been!!!!! anyway my other tip at the time RRR going great guns and will be a multibagger within the next month!!!

[scab] 04/6/2007 12:21

just popping back on here to see what's been happening,very sad,we certainly got screwed by the company,however, another lesson learnt !

[aspers] 01/6/2007 22:42

The management got what they deserved.....the chop chop suey!!!!!!!

[shaken] 01/6/2007 14:52

lol.... chinese hello = 'knee how' let's hope they have the 'know how' .. not that I care a penny any longer..........

[arf dysg] 01/6/2007 10:42

Sounds like they made friends with the Chinese and got stabbed in the back.

Anyway, I note that the MNA management is optimistic about the prospects for the mine. I bet they are.

And more junk journalism in the summary via AFX news... they say Monterrico Metals operates exclusively in Puerto Rico. Hahaha! I once saw a journalist talk about the Rio Blanco mine in Brazil, now we have it in Puerto Rico. It's the incredible wandering mine show, folks! The only one on the planet.

I note that the finance team is now headed by Shan Shan, who is a panda. (eats, shoots and leaves)

This is a circus.

[enamel] 01/6/2007 09:40

Desperate times. The old management is being kicked out by the Chinese. The Chinese are returning the favour for allowing them to acquire MNA on the cheap.