Metallica Minerals Limited (ASX:MLM) Update On Cash Position And Listed Investments
Brisbane, April 19, 2011 AEST (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.
For the complete Metallica Minerals announcement including tables, please view the following link:
About Metallica Minerals Limited
Metallica Minerals Limited (Metallica) (ASX:MLM) 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)
Metro Mining Ltd
Metallica Minerals Limited