Metallica (MR T) Message Board

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Gold/Mining/Energy : Metallica (MR T)

MR 5.360

-80.8%

Nov 13 4:00 PM EST

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To: Dan P who wrote (229)	4/21/2001 12:31:29 PM
From: russwinter	Read Replies (1) of 263

<More news, but drilling done for season.> Actually Dan there is a lot more news, TWELVE more holes and a comprehensive report by end of May to be specific. Also the deal with Noranda is terrific. To earn the 70% they need to pay MR cash of US 10 million by 2005. That alone it equivalent to the current market cap of MR. Further MR will pick up another million cash in September at 1.5 times (nondilutive) the average sixty day price prior. With more good news likely from the rest of the drilling, who knows what that price might be. In my exchanges with Hall, I sense they may take advantage of cheap stock prices (if they stay here)and clean the weak shareholders up some with purchases. That would really be accretive to remaining holders. And that doesn't take anything into account for 50% owned Cerro San Pedro. Hate to jinx it, but looking like one of the best plays out there and it's early days.

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