Monterrico Metals Share Discussion Threads

[dontyo] 27/3/2008 14:18

just gone long 10000, looks like Ambrian cap have a few to get rid of, should then be blast off. Seems a few have started buying, agree this looks a steal. Loads of my stocks been hit last few days due to CFD/Spreadbet co's asking for more margin and thus many forced to close out of stocks. A great time for those with funds, a sad time for those who play with margin.

[stuart14] 27/3/2008 14:01

I never understand how it can be difficult to get stock when a share has fallen so far.

[david adams] 27/3/2008 13:47

It's bouncing nicely and tricky to get stock, another forum poster states the co is dismayed at the further fall, bring on a mbo. Looks like margin calls has decimated this stock. 300p - 110p in days!! What say a bounce to 160p region?

[stuart14] 27/3/2008 13:18

Haven't looking in here for ages. I thought they accepted the offer. Clearly not.

[david adams] 27/3/2008 13:07

there was a seller, hoping he's gone as this should bounce huge and it would appear it has started. Didn't they refuse a bid around 500p?? Ludicrous price but an opportunity has arisen here.

[papalpower] 27/3/2008 13:04

Whats caused the fall ?

Sorry, not been watching this for yonks since taking me profits and leaving :)

[david adams] 27/3/2008 12:57

coming back now on level 2.

[spectoacc] 27/3/2008 11:17

Hmm - seems to have a v. small free float, who could be selling? If it's the shorters argument, who could they be borrowing from? Gone long a few down here, just over a quid.

[metalera] 27/3/2008 11:07

nope still there!

[metalera] 27/3/2008 00:14

reckon someone is very short of these, might get caught out spectacularly if a positive news release is put out. Most of the easy sellers probably left before the fall, due to inactivity. In the mean time keep hope the discount price lasts a while / post tax year end.

[aimslave] 26/3/2008 19:06

Hi cerr - Cheers for the comments.

I understand a fall was enevitable after the announcement, although i think the scale of the drop is beyond announcing a delay. It may well just be the MM's robbing the weak as they see value elsewhere, and take their money off the table.
I think you pointed out yourself, that in the mining sector a fall of over 60% in a company with a proven resource on an announcement of a delay is over done, and yes quite rare.(show me a miner that doesnt experience delays)
Cripes they would all be worth 0p if they lost 60%+ every time a delay was mentioned.

Lets not forget, MNA is moving out of explorer stage, the asset is proven, MNA doesnt need to prove to the market that copper is usefull. I assume small bio tecs and alternative fuel sectors will suffer worse than some sectors due to the extra risks that any new product simply may not work as planned, or as the technologys are new, there is no guarntee even if it does work, that people will want it.
Copper does what it says on the tin, (excuse the pun). :o)

i realise the DFS needs to be completed, to futher derisk the project, but the chinese want that copper, and i for one think they will get at it. Not if, but when.




------------------------------------------------------------------
From recent RNS's

"As the DFS considered an operation treating 25Mt per year over a 20 year life,
utilizing only 40% of the resource, Management is concerned that a number of
components of the DFS design will limit long term mine expansion and hence
prevent the full potential of this important resource being realized."
----------------------------------------------------------------------

And later


"I am confident that the new options being
prepared for evaluation by the trade off study will provide opportunities to
unlock considerable value from Rio Blanco and also improve environmental and
social aspects of the project."

-----------------------------------------------------------------------

So they are looking to produce more copper, quicker than was previously indicated, and are now working on how they can make that happen. Seems a decent reason for a delay IMO,
But more importantly i think it does not justify the level of savaging the S/P is getting.
Its all good though, keep falling pleaseeeeeeee.
A truck load at 80p would be dandy.


Edited - All IMHO please DYOR

I dont hold yet just to clarify my position....

[cerrito] 26/3/2008 17:32

I sold all my shares in the buyback and have been keeping half an eye open on this since then but without buying anything.
To be honest I was surprised that following the March 12 update the price held up albeit just for a few days.
The fall we have seen in the last few days mirrors the fall in other stocks I am in which will not see any earnings for 2/3/4 years- for example fuel cell companies like ITM/CWR; biotech companies like PLE/SAR and to some extent a miner like VML.
Will people who buy at these prices be able to sell out at 200p+ in the next couple of years?...most probably..I am quite relaxed about the Chinese connection.
Will I be buying at these prices? Probably not.

[aimslave] 26/3/2008 17:24

A T - Do you have access to the Crest data?
Am wondering wether it may just be shorts, but cant see the on loan figures to confirm, or rubbish the thought.

[aimslave] 26/3/2008 17:17

pretty much spot on A T :o)

Alot of head scratching going on.

[aim_trader] 26/3/2008 16:47

What's going on here then?

I've read through the last posts. I'm guesing every one is as baffled as me?

[the_doctor] 26/3/2008 13:32

Agreed.

Buy here and either the Chinese will buy the remaining stock
or
In the long term, they'll develop the mine

[aimslave] 26/3/2008 13:28

Chinese wouldnt sell out IMO, they're here for the copper, not the money.

[metalera] 26/3/2008 13:04

If the MCAP really is £35m then this is an excellent takeover play for an opportunitistic buyer or strategic stake builder

[the_doctor] 26/3/2008 12:52

I guess credit wise, the $1bn needed may be tricky?

BUT.... they're Chinese, and the govt there is keen to secure resources

[aimslave] 26/3/2008 12:48

think they had to stefeild as part of the takeover ageement. Am not sure if there was a tie in period or the listing had to be kept for good though.
In regards to finance for the project is anyone aware how well funded they are or not?
(i didnt really follow the story after the chinese got involved)

[stefield] 26/3/2008 12:39

still dont really understand why they bother to keep it listed ?

[stefield] 26/3/2008 12:39

very little volume, i think its just a question of a few sells and no buyers, its a very illiquid stock since the takeover

[aimslave] 26/3/2008 12:33

Certainly value to be had at this price IMHO. But there is nothing more satisfying than picking the bottom. erm if you catch my drift :o)

Support around £1.15 and then 80p. Very little volume causing this fall.

[the_doctor] 26/3/2008 11:00

I'd buy a long term holding here if I had the cash ready