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2-27-2006 - MRB- Metallica Resources Inc
CURRENT PRICE: $3.12
TYPE OF PLAY: TECHNICAL ANALYSIS/EARNINGS POTENTIAL
Metallica Resources is a Canadian mineral exploration and development company with a geographic focus in the Americas. They have recently increased
its ownership interest in a gold and silver project in Mexico to 100% and have gotten past a major developmental hurdle by getting their blasting permits
approved by the Secretaria de Defensa National. For this project, they are estimating reserves totaling: 1.17 million ounces of gold and 48.4 million ounces of silver.
With spot gold currently trading over $550.00 per ounce and silver trading above $9.50 per ounce, this will be a significant find for MRB. They are also testing the Rio Figueroa
copper-gold project in southern Chile. This is a 74 square kilometers of prospective terrain along a southern projection of the Domeyko fault system, a structure that hosts some
of Chile's largest porphyry copper deposits. They also have a 30% interest in a significant copper and gold mining project El Morro in northern Chile, and can earn a 65% interest in
Full Metal's Aleutian Islands and Alaska Peninsula Properties. The properties cover a 150 mile section of the Alaskan Peninsula hosting numerous porphyry copper, silver, gold, molybdenum
and epithermal gold. On Feb 24th, Falconbridge Limited has filed with the SEC that they upped their ownership of MRB to approximately 9.9%. We think that this will give the stock additional
support, as more parties will have a vested interest in the company's success. We feel that the technical action Friday, off a 3 week long pullback, shows that investors are watching for any strength.
LINKS FOR FURTHER READING:
MRB Hompage
SEC filings for MRB
General MRB statistics