Brisbane, April 19, 2011 (ABN Newswire) - Following a significant increase last week in the share price of MetroCoal Limited(ASX:MTE) (Metallica 45.3% shareholding) and frequent questions from shareholders and investors, Metallica Minerals Limited (ASX:MLM) is pleased to provide an update on its cash position and the approximate value of the Company's ASX-listed investments, as of today, 19 April, 2011. Similar updates will be issued periodically.
Metallica's cash and listed share investments currently total approximately A$57 million compared to the Company's market capitalisation of around A$33 million. Metallica also has substantial additional mineral asset value in its flagship NORNICO nickel-cobalt & scandium project in north Queensland, plus advanced zircon-rutile and limestone-lime projects.
Metallica Minerals Limited (Metallica) was incorporated in 1997 by Founding and Managing Director Andrew Gillies. Metallica was established with the primary objective of creating opportunity and wealth for its shareholders through the evaluation and development of mineral projects in Queensland. Metallica was listed on the Australian Stock Exchange November 2004 (ASX:MLM). Metallica's focus and flagship project is its North Queensland Nickel Cobalt (NORNICO)
Contact
Andrew Gillies Managing Director Metallica Minerals Limited Tel: +61-7-3249-3000
John Haley Director/CFO Metallica Minerals Limited Tel: +61-7-3249-3000
ASX:MTE) (Metallica 45.3% shareholding) and frequent questions from shareholders and investors, Metallica Minerals Limited (
Metallica Minerals Limited
MetroCoal Limited
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