Monterrico up on bid approach

Shares in would-be copper producer Monterrico Metals jumped from 196p to 308.5p last week as rumours of a bid approach were confirmed by the company. If you bought on my recommendation here in April at 280p (which was followed by further ‘buy’ recommendations lower down), you should certainly continue to hold. Monterrico’s mine is one of the few big copper projects around and anyone of half a dozen mining giants could afford the £100 million price tag it would probably cost to secure it.