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Additional Information
Market: ASX
Sector: General Mining - Nickel and Cobalt
EPIC: MLM
Latest Price: A$0.23  (0,00%)
52-week High: A$0.52
52-week Low: A$0.20
Market Cap: A$32.26M
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Metallica Minerals
www.metallicaminerals.com.au

Metallica Minerals are a  multi commodity resource company with major interests in
Nickel-Cobalt
Coal – Energy
Bauxite
Tungsten
Copper-Gold

Since its establishment in 1997 and ASX listing in November 2004, Metallica Minerals (ASX code: ‘MLM’) has maintained a core focus on the sustained development of its flagship NORNICO nickel-cobalt project in northern Queensland, while expanding its business through a complementary series of strategic resource project acquisitions, non-core asset sales, corporate alliances, and cutting-edge technological advances.

Full Metallica Minerals profile here
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Metallica Minerals has A$5.8m cash position ahead of Greenvale resource upgrade

12th Nov 2010, 11:28 am

Metallica Minerals (ASX: MLM) has updated its cash position and the value of the company’s ASX-listed investments as a result of regular questions raised by shareholders and investors.

The company has a 49.1% interest in MetroCoal (ASX: MTE) with 80,000,000 shares valued at 31 cents each and a market value of A$24.8 million.

MLM has a 29.9% interest in Cape Alumina (ASX: CBX) with 38,600,000 shares valued at 35 cents each and a market value of A$13.5 million.

Metallica has a 76% interest in Planet Metals (ASX: PMQ) with 45,500,000 shares valued at 16 cents each and a market value of A$$7.3 million.

The company also has a 16.4% interest in Orion Metals (ASX: ORM) with 11,866,658 shares valued at 23 cents each and a market value of A$$2.7 million.

The total listed investment market value A$48.3 million and MLM has A$5.8 million cash at bank. MLM shares are currently trading at 32.5 cents.

On November 9 MLM reported that a phase 2 drilling programe will target high grade zones of nickel and cobalt outside the resource boundaries of the Greenvale Nickel-Cobalt Project in Queensland.

Before the end of 2010, Metallica is set to complete; drilling an additional 150 holes for 4,000 metres, survey pick up of all phase 2 drill holes, a survey of existing pit outlines and a Greenvale and Lucknow resource update.

The resource update at Greenvale due in December is highly anticipated.

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