Monterrico confirms bid propos

Monterrico Metals updated the market last week about the progress of its takeover talks. It confirmed it had now received an indicative offer from a third party, but with a number of conditions still attached to it. In December the company said any offer would only be at a ‘modest premium’ to the then market price of 257.5p. The shares are currently 283p, just ahead of the 280p at which the shares were tipped here last April. Await further news.