To: marcos who wrote (54195 ) 12/13/2007 11:58:43 PM From: Step1 Read Replies (1) | Respond to of 78408 Speaking of picks and nostalgia here, as we are coming to this ghostly Christmas rally... From Russwinter about two years back, soon to be three: >>> From: russwinter Read Replies (2) of 39041 Noranda munching away on Metallica. Metallica Resources Announces Noranda Increases Its Ownership In The Company Tuesday February 22, 8:45 am ET TORONTO--(BUSINESS WIRE)--Feb. 22, 2005--Metallica Resources Inc. (TSX:MR - News; AMEX:MRB - News) announces that Noranda Inc. (TSX: NRD - News; NYSE: NRD - News) has filed a Schedule 13G with the U.S. Securities and Exchange Commission ("SEC") indicating that it owns approximately 6 million shares of Metallica Resources or approximately 7.3% of the outstanding common stock of Metallica. Noranda has an option to earn a 70% interest in Metallica's El Morro copper-gold porphyry project in Chile. Noranda originally purchased 900,000 shares of Metallica in 2001 as part of its earn-in agreement. U.S. securities law requires that if a person or entity beneficially owns 5% or more of the common stock of an SEC registrant it must publicly disclose its ownership interest, whereas similar disclosure must be filed in Canada once the ownership in the company is 10% or more. Noranda can earn a 70% interest in the El Morro project by paying Metallica US$10 million by September 14, 2005. In addition to the US$10 million payment, the agreement calls for Noranda to complete a bankable feasibility study by September 2007 and provide 70% of Metallica's 30% share of the capital required to develop the project, if requested by Metallica. Noranda is currently carrying out an 8,000-meter diamond-drilling program directed at the La Fortuna resource area on the El Morro project. The objective of the drilling program is to improve the definition of the higher-grade copper enrichment zone and to investigate the geologic distribution of the higher-grade gold intervals encountered in previous drilling. Noranda estimates the cost of the program at approximately US$1.7 million. Based on a 0.4% copper cutoff grade, Noranda has estimated that the La Fortuna zone contains an inferred resource of 465 million tonnes grading 0.61% copper and 0.50 grams per tonne of gold, which equates to approximately 6.2 billion pounds of copper and 7.4 million ounces of gold. Metallica Resources is a Canadian precious and base metal exploration and development company focused on the Americas. It currently has 82.7 million shares outstanding, approximately US$42 million in cash and cash equivalents, and no debt. For further details on Metallica Resources, please visit the Company's website at www.metal-res.com.<<<