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Metal Storm Firing System In Running for US Marine Corps Contract
Brisbane, May 10, 2006 (ABN Newswire) - Metal Storm (ASX: MST)(NASDAQ: MTSX) advises that the US Marine Corps (USMC) Systems Command, on behalf of the USMC Warfighting Laboratory has placed a notice on the US Federal Business Opportunities website, that it intends to award a Sole Source research and development Contract to Metal Storm for the design and fabrication of a stacked round firing system for FIN Stabilized High Explosive Ammunition. The USMC is required to place such a notice where it intends to solicit and negotiate with only one source before confirming a contract award. The amount currently set aside for this contract is approximately US$331,000, subject to negotiation. Metal Storm expects to be advised of the outcome of this process, and whether USMC will proceed to the negotiating and awarding of the proposed contract, by mid-June 2006. Metal Storm will advise the ASX and NASDAQ markets once it has been notified by the USMC of a confirmed contract award.
About METAL STORM LIMITED
Metal Storm Limited is a multi-national defence technology company engaged in the development of electronically initiated ballistics systems using its unique "stacked projectile" technology. The company is headquartered in Brisbane, Australia and incorporated in Australia. Metal Storm Limited technology and products are represented in the USA by Metal Storm Inc., which has offices in Arlington Virginia.
Metal Storm is working with government agencies and departments, as well as industry, to develop a variety of systems utilising the Metal Storm non-mechanical, electronically fired stacked ammunition system.
Metal Storm's weapon technology uses computer-controlled electronic ignition and a system of stacked projectiles, to achieve a completely non-mechanical gun that is very lightweight and compact, providing a very high firepower to weight ratio. The Metal Storm weapons system utilizes multiple barrels mounted together on one platform which allows varying munitions types to be deployed in a single, low cost, lightweight weapon system. Firing the weapons by electronic ignition requires no moving parts, allowing reliable long term unattended weapon operation.
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