Quarterly Report to 30 June 2009

Transcription

1 Quarterly Report to 30 June 2009 ASX release 31 July 2009 Metallica Minerals Ltd A Queensland multi-commodity resource company with major interests in Nickel Cobalt, Coal, Bauxite, Tungsten & Gold-Copper ASX : MLM Issued Capital (30/6/2009): 121,740,917 Shares issued 6,750,000 Directors & Management Unlisted Performance Options ~ 2,628 shareholders Top 20 shareholders: Hold 61.1 Directors: David K. Barwick - Non Exec Chairman Andrew Gillies - Managing Director John Haley - Director & Company Sec Peter Nicholson - Non Executive Director Shu Wu - Non Executive Director Largest Shareholders: Jien Mining Pty Ltd 18.8 RCF (Funds III LP & IV LP) 12.3 Golden Breed Pty Ltd 7.3 Cash balance: As at 30 June 2009, MLM s consolidated cash balance was approximately $16.34 million. Highlights Current consolidated cash - $16.34 million At completion of the 1 MLM : 22 QOL Scrip Offer on 9 June, Metallica acquired 71 of Queensland Ores Ltd (ASX : QOL) which holds two very attractive Queensland resource projects; 85 of the Wolfram Camp wolfram (tungsten) and molybdenite mine (currently on care and maintenance) and 100 of the Mt Cannindah copper gold deposit. Metallica has increased its QOL shareholding to 76 after a $1.31 million investment in QOL as part of a QOL Rights Issue completed in early July. QOL had $1.24 million cash at 30 June 2009 and is planning resource confirmation and definition drilling on the Wolfram Camp tungsten and molybdenite project. Major drilling programme commenced in June on the cobalt rich Kokomo nickel laterite deposit with over 140 drill holes completed to date to increase the existing resource size and status. Impressive intercepts have been recorded including KK Ni & 0.63Co. Kokomo metallurgical laboratory testwork based on heated AAL for recovery of nickel and cobalt revealed very positive results - indicating 90 extractions of both Ni and Co can be achieved within 5-6 hours using 600 kg/t acid and SO 2 addition. NORNICO Feasibility Study deferred to include the Kokomo deposit (to add resources of high cobalt nickel ores) and complete further metallurgy and enhance process flow sheet development towards maximising metal recoveries and economic efficiency. Current preferred NORNICO development option going forward is for a 1.0 mtpa project (with onsite acid plant) based primarily on heated agitated atmospheric acid leach (AAL) and solvent extraction/ electrowinning (SX/EW) to produce ~ 10,000 tpa LME Nickel Metal and > 1,000tpa Cobalt as cobalt sulphide. Cape Alumina Limited (ASX : CBX) (MLM holds 33) Upgraded its 100 held Weipa Bauxite project - Pisolite Hills bauxite resource to 130Mt (previously 100Mt), see resource Table 5 on page 17. MetroCoal s (84 MLM owned) completed its second drilling programme comprising 16 holes (4,893m) within MDLA 406 Juandah confirming the target Macalister Upper Seams continuity and an initial coal resource of 172 Mt (see table 3 page 15) suitable for an Underground Coal Gasification (UCG) project in the Surat coal Basin. MDLA 406 has no overlapping pertroleum tenure. Corporate Maintaining strong consolidated cash position of approximately $16.34 million with effectively no debt. After completion of scrip bid in which MLM achieved a 71 shareholding of QOL, Mr. Andrew Gillies and Mr. David Barwick have joined the QOL Board and Mr. John Haley has assumed the role of QOL s company secretary. Mr. Barwick has been elected Chairman. In early July Metallica exercised its full entitlement to the QOL Rights Issue and acquired a further million shares in QOL for $1.31 million MLM now holds 76 of QOL. Metallica has a strategic shareholding and a convertible note in Brisbane based Queensland Gold & Minerals Ltd (ASX : QGM) and the company, in conjunction with MLM are continuing to seek opportunities suitable for this company. MLM has entered in to a JV with Salisbury Resources Ltd on three South Australian Gravity High IOCGU-Olympic Dam style exploration targets (Toby, Torrens & Merna Mora). Drilling of basement rocks over the Toby Anomaly is expected around 8th August. ABN: admin@metallicaminerals.com.au ASX : MLM 1 Potts St, East Brisbane QLD 4169 GPO Box 122, Brisbane QLD 4001

2 2 Metallica Minerals Ltd Quarterly Report to June 2009 Financial To be read in conjunction with Appendix 5B attached As at 30 June 2009, Metallica s consolidated cash was $16.34 million (13.42 cents per share) including interest income of $505,000 received during the June Quarter. Exploration and evaluation expenditure totalled $1.757 million, production $0.12 million (Ootann) and administration expenditure was $0.726 million for the quarter to 30 June The total combined June quarterly expenditure was approximately $2.6 million. The estimated exploration and evaluation expenditure by Metallica for the September 2009 quarter is $1.95 million. Significant additional project expenditure was completed in the June quarter through Metallica s 33 shareholding in Cape Alumina (100 Weipa bauxite project). MLM loaned a further $500,000 to MetroCoal during the quarter. MetroCoal used these funds towards the completion of the drilling programme on the Juandah coal UCG project and to advance the company to an IPO when the economic climate improves. No Directors or Management Unlisted Performance Options were issued during the quarter. The Company s significant cash reserves will be utilised to seek undervalued resource opportunities as well as progress Metallica s key NORNICO nickel-cobalt project, its holdings in coal (MetroCoal 84) and significant Queensland-based exploration interests in zircon, rutile, gold, scandium, limestone and other minerals. Metallica intends to support its 76 holding in Queensland Ores Ltd and its 47.2 holding (assuming post full conversion of its convertible note) in Queensland Gold and Minerals (ASX:QGM). Metallica continues to assess attractive corporate and project opportunities that are compatible to the Company s core operations. Figure1: Queensland project locations of Metallica s major interests in nickel-cobalt, coal, bauxite, tungsten-moly & copper-gold

3 Metallica Minerals Ltd Quarterly Report to June Technical information contained in this report has been compiled by Andrew Gillies B.Sc (Geology) (Managing Director of Metallica Minerals Ltd) and Metallica Minerals Ltd, Exploration Manager, Mr Pat Smith MSc. B.Sc (Hons), M.AusIMM, who are competent persons and Members of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Gillies and Mr Smith have relevant experience to the mineralisation, exploration targets and Mineral Resources being reported on to qualify as Competent Persons as defined by the Australasian Code for Reporting of Minerals Resources and Reserves. Information on Cape Alumina bauxite projects in this report are compiled by Dr Paul Messenger (CEO of Cape Alumina Pty Ltd) who is a Member of the AusIMM and has 20 years experience in exploration and mining including a significant time studying bauxite projects. Mineral Resource information on Queensland Ores Ltd, Wolfram Camp project in this report has been compiled by Mr Andrew Border, project geologist of Queensland Ores Ltd. Mr Gillies, Mr Smith, Mr Border and Dr Messenger consent to the inclusion in the report of the matters based on the information in the form and context in which it appears. A separate Competent Person Statement is presented included in each relevant page of this report for the MetroCoal Ltd (Coal) and Cape Alumina Ltd (bauxite) sections of this report, see page15 and page 17 respectively. Andrew Gillies Managing Director, 31 July 2009 Enquiries: admin@metallicaminerals.com.au Tel: (07) or for further information visit Metallica s Assets Metallica is in an excellent position to endure the downturn in financial markets and progress its core mineral properties and major investments. NORNICO 100 NORNICO 100 Nickel-Cobalt Ni-Co Project Project 364kt contained Ni 29kt contained Co MetroCoal 84 4,000km 2 Surat Coal Basin Cash* $16.34M No debt Cape Alumina Weipa Bauxite Project QLD Ores Ltd Mt Cannindah Cu-Au 85 Wolfram Camp W-Mo Metallica s core assets as at 30 June 2009

4 4 Metallica Minerals Ltd Quarterly Report to June 2009 Mineral Projects Nickel-Cobalt NORNICO Project 100 Overview The NORNICO Project is located 32 kilometres south of Mt Garnet, Northern Queensland; location and access to infrastructure is excellent. The combined NORNICO resource base of the three deposits of Bell Creek, Minnamoolka and Kokomo is approximately 0.72 Ni and 0.06 Co (364 Kt Ni and 29 Kt Co contained), see Table 8 & 9 on pages 28 & 29). Further infill and step out drilling is currently in progress at Kokomo which is expected to increase the NORNICO resource base. The NORNICO nickel ores are highly amenable to dilute acid leaching for nickel and cobalt extraction. NORNICO is in an excellent location, close to markets, fresh water, infrastructure, port facilities (140km via road), is safe, and in an ideal climate and environment. NORNICO funding feasibility study The feasibility study is currently being deferred until the process flow sheet options have been further reviewed and better defined while the Kokomo resource base is enhanced and a mining lease application with associated permitting is completed. Key activities undertaken during the June Quarter included: Lycopodium Minerals completed the close out report for the 1.0 mtpa atmospheric heap leach operation with a back-end process flow sheet based on IX resins. An in-house Scoping Study based on heated agitated atmospheric leaching (AAL) was initiated in order to investigate improvement of the project economics. Kokomo heated agitated atmospheric leach testwork continued. Further laboratory metallurgical testwork to develop and optimise the AAL process flowsheet was commenced. Proof of concept testwork associated with solvent extraction (SX) was successfully completed. All aspects of the application for a second water licence have been finalised and the granting of the licence is eminent. Site environmental monitoring continued. Engineering studies In March 2009 the 1.0 mtpa heap leach/ Ion Exchange (IX) acid plant project was found not to offer the advantages originally expected, it was then decided to defer the completion of the Feasibility Study (basically the engineering component only) due to the current financial climate and low commodity prices and the sentiment towards nickel laterite projects. Feasibility Study Manager, Lycopodium Minerals Pty Ltd was requested to close out the project and prepare a summary report which was issued at the end of June The total project order of magnitude Capex was estimated to be $561 million including 20 contingency, pre-production working capital, EPCM, and owner s costs. The accuracy was considered to be +50/-20. The operating cost was estimated to be approximately $100/tonne (excluding mining costs). Considering these estimates provided by Lycopodium, the project would exhibit considerable financial hurdles in current market conditions or Nickel price below US$8/lb. More recently a review of possible project enhancements has been undertaken internally with our own in-house process management team and assisted by our hydrometallurgical consultants. It was concluded that the preferred option going forward would be for a 1.0 mtpa project based on heated agitated atmospheric leach (AAL) with acid plant and solvent extraction/electrowinning (SX/EW) to produce LME Nickel Metal and Cobalt as cobalt sulphide. An internal Scoping Study was initiated to confirm the process suitability and to improve the financial position of the project. This option could enhance the following: Increase project in-ground metal content and value An agitated atmospheric leach flowsheet would allow Kokomo resources (cobalt rich nickel laterite) to be directly added to the project (thereby adding higher grade feed as well as extended project life). Improve overall Nickel and Cobalt recoveries (both plus 90) Increase metal payment of both elements Allows some beneficiation of silica box material (to increase plant feed head grade) These enhancements could partially be negated by Opex and Capex considerations which have yet to be determined, although they may well also be positive. The in house Scoping Study is planned to be completed by early October Metallurgical testwork 1. Pilot Plant Testwork In November 2008 Metallica committed to a major pilot plant test program at Ammtec, Perth to confirm the robustness of the new proposed back end flowsheet based on Ion Exchange. The test program was completed last quarter and the final reports issued.

5 Metallica Minerals Ltd Quarterly Report to June Agitated Atmospheric Leach (AAL) Testwork Kokomo The Kokomo metallurgical testwork based on heated atmospheric agitated leaching for recovery of nickel and cobalt revealed some very positive results. A number of batch tests were completed, with the results indicating 90 extractions of both Ni and Co are achieved within 5-6 hours using 600 kg/t acid and SO 2 addition. Bell Creek South (BCS) and Bell Creek North (BCN) The procedure used in the Kokomo testwork was applied to the BCS ore and subsequently to a blend of BCS and BCN ore. The BCS results indicated 71 nickel extraction, while the BCS and BCN blend resulted in 75 nickel extraction. In both blends the cobalt extraction exceeded 90. The testwork program was modified to investigate a proposed two stage agitated atmospheric leach (2SAAL) option. The initial testwork results using the 2SAAL approach achieved 87 nickel extraction using 500kg/t acid and SO 2 addition. These results are preliminary and additional testwork is necessary to optimise this process. There are no concerns with cobalt extraction, again exceeding 90. The 2SAAL approach however did reveal the terminal free acid exiting the leach stage was 18g/L, not 60g/L as per single stage leaching. Based on these findings, it has been estimated that up to 40 in limestone savings could be achieved using this leaching approach. At this early stage of the test program the 2SAAL approach has been very encouraging. 3. Canopean Testwork CMN Process Bench scale CMN testwork demonstrated that a high purity nickel electrolyte suitable for production of LME grade nickel cathode can be produced from NORNICO leach liquors using the CMN Process. However a more detailed continous pilot plant run would be required to validate the process. 4. Pyrometallurgical Processes Metallica are also reviewing the possibility of using (in addition to AAL processing) known Pyrometallurgical processes which could be used or adapted to recover metal values from the NORNICO laterite resources. To this end we have investigated the possibility of using direct reduction technology. Discussions were also initiated with Xstrata Technology in Brisbane, regarding the potential of IsaSmelt technology for smelting the NORNICO laterites to produce a Ferro Nickel product. Metallica has recently accepted a proposal from Xstrata to undertake more detailed modelling and laboratory testwork at CSIRO, Melbourne to evaluate the suitability of Figure 3 NORNICO Regional Setting IsaSmelt technology to treat NORNICO nickel laterites. Environmental During the quarter there was no further progress on the preparation of the EIS document. It will be necessary to seek an extension of time for the lodgement of the EIS. The base line wet and dry season environmental studies have been completed at both Bell Creek and Minnamoolka with no major environmental issues to date identified and final reports issued. The Kokomo dry season flora and fauna studies are planned next quarter.

6 Metallica Minerals Ltd Quarterly Report to June NORNICO Project - Key Work Planned to 30 September 2009 Complete the internal AAL scoping study and review all options for going forward that could enhance the current NORNICO Project. Continue with the metallurgical test program to validate the proposed AAL flowsheet and support the scoping study. Schedule Realistically a 3 year development schedule is required for production to commence but go ahead will be highly dependent and the future Nickel and Cobalt price and ability to finance the project. The EIS will take 12 months for approval. In this market environment there is likely to be more emphasis in gaining project development financing through joint ventures. 7,946,000mN 306,000mE 7,947,000mN 7,949,000mN 307,000mE 308,000mE 7,948,000mN Kokomo Lateritised Serpentinite F F Metasediments EPM KOKOMO Eastern Boundary Fault Metasediments Western Boundary Fault F F :20, ,000 m EPM KOKOMO - SHEET 1 DRILL HOLE LOCATIONS AT JUNE 30, 2009 holes drilled during June 2009 quarter holes drilled prior to quarter LEGEND Laterite outcrop 305,000mE 304,000mE 7,944,000mN 7,946,000mN 7,943,000mN 306,000mE 7,945,000mN F Ex ploation Ca mp F Metasediments Metasediments Kokomo Lateritised Serpentinite dun Western Boundary Fault Eastern Boundary Fault EPM KOKOMO F F :20, ,000 m EPM KOKOMO - SHEET 2 DRILL HOLE LOCATIONS AT JUNE 30, 2009 holes drilled during June 2009 quarter holes drilled prior to quarter LEGEND Laterite outcrop Figure 4 Kokomo drill hole locations Undertake detailed dry season flora and fauna studies at Kokomo. Progress permitting of mining lease application (MLA) Bell Creek Consolidated. Submit and progress MLA to cover Kokomo Ni-Co-Sc resource. Start resource estimate update studies on the Kokomo Ni-Co-Sc deposit in preparation for mining studies.

7 Metallica Minerals Ltd Quarterly Report to June NORNICO Exploration Update Kokomo (EPM 10699) Nickel Cobalt deposit Grid based resource drilling has continued to deliver cobalt rich nickel laterite drilling intercepts. Drilling recommenced at the Kokomo Deposit on the 9th of June To the 9th of July, 140 holes (KK-607 to 745) have been drilled for 3,518m. The drilling is aimed at defining the high grade zones on the eastern and western side of the Kokomo Plateau and to complete infill holes within these high nickel-cobalt grade zones to increase the resource category of the high grade zones from Indicated and Inferred to Indicated and Measured. To date results have been received for all of the 140 holes, (KK ), see table 7 on page 25. A complete list of drill results and drill hole parameters are included in Table 7, at the back of this report and drill hole locations are presented on Figure 4. Better results include: KK-61 KK Ni & 0.12 Co 0.96 Ni & 0.14 Co Another 3,000m of drilling is planned to be completed at Kokomo by the end of August, results from this drilling programme will be included in an updated resource estimate for Kokomo which are expected to increase the resource categories for the higher grade nickel-cobalt mineralisation from Inferred and Indicated to Indicated and Measured. The Kokomo Resource estimate (January 2009) based on drilling to the end of 2008, identified an Inferred and Indicated resource of 0.67 Ni and 0.12 Co (using a 0.7 Ni equivalent cut off grade). Of this, 0.67 Ni and 0.13 Co is classified as Indicated with 0.66 Ni and 0.11 Co as Inferred (see resource tables 8 & 9 at the back of this report or further information see ASX Release dated 19 January 2009). Bell Creek & Minnamoolka Nickel- Cobalt deposits No field work has been completed at Bell Creek and Minnamoolka Ni-Co deposits over the last couple of months due to the current focus on including Kokomo into the expanded NORNICO resource base. Construction of a core storage area and shelving for pulps has been completed on the Pilot Plant site. Mt Garnet Sulphide Drilling In May, 2009 five (5) diamond holes for 1,421.30m were drilled at the Moonmyata and Rudd Creek Prospects to test for sulphide mineralisation, hole details are presented in Table 1 and Table 2. Moonmyata Moonmyata is a concealed norite intrusive being targeted for Nickel Sulphide mineralization. Hole MMDDH-005 was drilled across the granite norite contact at Moonmyata to determine if mineralisation was associated with the contact zone. The second hole, MMDDH-006 was drilled into the centre of the norite into a coincident intense magnetic low/gravity high anomaly to test whether there was mineralisation at depth. Only very minor mineralisation and alteration was intersected in holes MMDDH-005 and 006, zinc mineralisation to 0.5 Zn was intersected in MMDDH-005 and 006, similar KK-621 KK-629 KK-631 KK-637 KK-638 KK-644 KK-663 KK-683 KK-690 KK-696 KK-722 KK Ni & 0.44 Co 0.93 Ni & 0.37 Co 1.01 Ni & 0.01 Co 1.16 Ni & 0.08 Co 1.43 Ni & 0.08 Co 1.20 Ni & 0.05 Co 1.93 Ni & 0.63 Co 1.14 Ni & 0.51 Co 1.22 Ni & 0.22 Co 0.99 Ni & 0.15 Co 0.93 Ni & 0.26 Co 0.79 Ni & 0.43 Co

8 8 Metallica Minerals Ltd Quarterly Report to June 2009 Table 1: Mt Garnet Drilling Drill Hole Parameters Moonmyata Hole No: Easting Northing Dip Azim Pre-collar (m) Diamond Tail Total Depth MMDDH MMDDH Total Rudd Creek RCDDH RCDDD RCDDH Total Table 2: Mt Garnet Drilling Assay Results Hole No: From (m) To (m) Interval (m) RCDDH * RCDDH Au g/t Ag g/t Cu ppm Zn ppm Table 3: Juandah Project Macalister Upper Coal Seam Resource Inferred Resource Indicated Resource Inferred & Indicated Resource 149Mt 22.5Mt 172Mt See Competent Person Statement on page 15 Table 4: Macalister Drillhole Parameters and Coal Intercept Results Hole Number Easting Northing RL Total Depth Meters Cored Seam Roof Macalister Upper Seam Floor Net Coal Seam Roof Macalister Lower Seam Floor Net Coal Total Net Coal WW WW8C WW WW9C WW WW WW WW WW13C WW WW14C WW WW WW WW WW Total

9 Metallica Minerals Ltd Quarterly Report to June to that intersected in previous drilling. After completing five diamond holes and two RC holes at Moonmyata it is considered that this target has been adequately tested and it is recommended that if results from petrological analysis (to determine if the Moonmyata norite is fertile for nickel sulphides) are negative this tenement be relinquished. Rudd Creek Targets Rudd Creek targets are all concealed with 12-60m of cover alluvium which comprises large (>1km²) skarn style mineralisation area being targeted for Gold-Copper-Base Metals mineralisation. Three holes were drilled at Rudd Creek, (RCDDH-005 to RCDDH-007). All three holes intersected variably altered metasediments which show evidence of skarn mineralisation. Two holes, RCDDH-006 and RCDDH-007 intersected narrow zones of elevated gold mineralisation associated with elevated copper mineralisation. Anomalous silver and zinc was also intersected in hole RCDDH-006. Where the gold mineralisation occurs in holes 006 and 007 there is increased levels of alteration and pyrite. The gold intercepts are listed below in Table 2. A zinc intercept of 0.17 Zn and a silver intercept of 1.81g/t was also intersected in hole RCDDH-006. The anomalous gold, silver and zinc mineralisation intersected in the Rudd Creek holes indicate that the system is extensively mineralised and altered over a wide area. It is apparent that elevated gold values are associated with an increase in alteration and pyrite mineralisation. To further explore this area it is proposed that a geophysical IP survey programme is undertaken to identify areas of strong pyrite mineralisation and areas of alteration for the generation of drill targets. It is proposed that this programme be undertaken before December Regional Exploration Six Mile Field Portable XRF surveys have been completed over two areas recording significant gold, lead, arsenic and silver rock chip geochemistry at the Trigg and Towers prospects. These areas have been tested with eight (8) shallow drill holes to depths of 30 to 40m, results are pending Work Planned for the September Quarter includes:- Continued drilling at Kokomo Ni-Co- Sc project with approximately 3,000m of RC drilling (155 holes) remaining in the current programme. Lodging a Mining Lease Application over the main Kokomo Ni-Co-Sc deposit. Additional regional XRF soil surveys over at the Six Mile Prospect and regional targets. Shallow and possible deeper drilling of gold and base metal prospects at the Six Mile gold project. Commencement of drilling the Dry River Copper Prospect NW of Greenvale.

10 10 Metallica Minerals Ltd Quarterly Report to June 2009 Lucky Break Nickel-Cobalt project MFC 40 MLM 60 JV The Lucky Break nickel project, located 140 km west of Townsville, (see Figure 5) is a joint venture between Metals Finance Corporation (ASX : MFC) and Metallica. MFC is the manager of the Lucky Break nickel project and is responsible for all development costs as part of its earn-in agreement. Metallica is free carried and will receive a share of the operating surplus once the project is in operation, initially 15 until MFC has recouped its capital investment and then 60 thereafter. The project is to be developed and brought into nickel production at no extra cost to Metallica and hence does not dilute shareholder equity. The other key advantage is that it provides Metallica with invaluable operational experience and know-how, ahead of the much larger scale NORNICO development. MFC completed a comprehensive pilot programme on Lucky Break ore in May An independent feasibility study demonstrated that the project was technically and financially viable under the conditions prevailing at the time of the study and, as a consequence, MFC and Metallica Minerals decided, in June 2007 to progress towards implementation of the project. Development of the project was subsequently delayed due to issues with acid supply for the project and global financial circumstances. As reported at the end of the March quarter, MFC have subsequently completed a detailed review of the project and revised internal feasibility study, incorporating revisions in scale and flow sheet more tailored to current market conditions. The results of the study have been positive and illustrate that the project is more robust under the new parameters, with updated projections suggesting: Significant reduction in acid consumption per pound of nickel produced Significantly lower capital cost Higher potential revenue through the higher grade product MFC has commenced work on updating capital and operating costs and other related studies, with a view to finalising a Definitive Feasibility Study (DFS) on the revised project by the end of Proposed Nickel production is expected to be in the order of 1,250 tonnes to 750 tonnes per annum of Nickel metal. The study is targeted at providing a basis for recommencing development of the project early in Figure 5 Lucky Break Nickel Project Regional Setting

11 Metallica Minerals Ltd Quarterly Report to June Coal MetroCoal (MLM 84) SE QLD Coal Project Second drilling program completed in MDLA 406 Juandah 16 exploration holes completed for 4,893m drilled Drilling confirms Macalister Upper Seam continuity Initial Resource of 172 Mt estimated for Macalister Upper Seam within MDLA 406 (see Table 3 on page 15) MDLA 406 does not have any overlapping petroleum tenure issued under the P&G Act and hence MetroCoal has exclusive tenure. Juandah UCG Project is well placed for UCG and subsequent syngas fired power generation and/or GTL MetroCoal is an emerging coal based energy company focused on the Surat Basin, with a vision to build a substantial cleaner fuel, energy and coal business. Coal tenement portfolio MetroCoal holds seven granted coal tenements (EPC s 1152, 1159, & 1251) with two additional recently submitted applications in progress, covering over 4,000km 2 of coal bearing strata in the Surat, Moreton and Ipswich Coal Basins in southern Queensland, see Figure 6. The region hosts a number of world class coal deposits and the MetroCoal tenements cover coal strata extensions of well known shallow coal deposits including Wandoan (Xstrata), Elimatta (Northern Energy), Woori (previously Gulugaba, Cockatoo Coal), Cameby Downs (Syntech) and Wilkie Creek (Peabody). The Surat Basin coals are highly amenable to Underground Coal Gasification (UCG) with Linc Energy and Carbon Energy both developing their demonstration plants in the region. A review of borehole data compiled from previous exploration reports completed by various exploration companies over the last few decades confirm that the majority of the known coal bearing strata in MetroCoal s tenements is between 100m to 400m below surface, with several highly prospective target areas identified. Figure 6 MetroCoal tenements and setting

12 12 Metallica Minerals Ltd Quarterly Report to June 2009 The coal in MetroCoal s tenement areas is ideally suited to conventional underground mining and underground coal gasification, in addition there may also be pockets of shallow, open pittable coal. The coal in the Surat Basin is ideally suited to provide high quality export thermal product and also to provide the feedstock for an alternative energy source as UCG. MetroCoal s core strategy is to establish exploitable coal deposits of between two and four billion tonnes combined within its existing tenements by the end of This resource base will provide export thermal coal from conventional underground and opencast mining operations. It will also provide a world class base for UCG operations producing syngas that can be converted to clean fuels, fertilisers or used to generate cleaner electric power. The Queensland Government released their UCG Policy in February. This policy sets out a framework for the development of the UCG industry in Queensland. In terms of this policy, MetroCoal now has exclusive tenure over MDLA 406 Juandah and, in addition, MetroCoal will have priority over any areas that may be relinquished by the current petroleum tenement holders within the EPCs. The Juandah Project in MDLA 406, covers 60km² with the coal seam intersected at depths within the target area of between 150 to 350 metres below surface - ideal depths for UCG. The drilling campaign delineated the target Macalister Upper Seam in all 16 boreholes confirming the Macalister Upper seam is continuous and correlateable across the drilled area. A geological model has been constructed from which a JORC Code compliant resource has been established. The resource of 172Mt (Table 3 on page 8) is defined in the southeast corner of MDLA 406 (see Figure 7), for further information see ASX releases 8 May and 28 May Further drilling is planned in these areas and in the remaining, undrilled area of the MDLA to better define coal quality and delineate areas of thickened and coalesced Macalister Seams. Coal quality appears typical of Surat Basin coals with laboratory analysis showing an average, insitu, specific energy of the working sections of 20.6 MJ/kg on an air dried basis. Figure 8 illustrates the typical Macalister Upper Seam thickness and quality ranges. Figure 9 shows the wire line logs and Macalister Upper Seam correlation across the boreholes in and around the southern portion of MDLA 406 Drilling targeted the Macalister Seams, collectively made up of the Macalister Upper (MU), the Macalister Middle (MM) and the Macalister Lower (ML). Most holes were PCD percussion and mud drilled, also referred to as open holes with several holes cored through the Macalister Seam section for coal quality purposes. All holes were wireline logged. Table 4 on page 8 shows the hole location, depth and seam intersections. This resource comfortably exceeds MetroCoal s 100Mt target required to support a major UCG project producing 20,000 barrels a day of high quality, cleaner liquid fuels. There is also significant scope to increase the resource in areas where the Macalister Lower Seam coalesce with the Macalister Upper creating potential working sections up to 12 metres thick. Figure 7: Current drilling Juandah MDLA406 coal project

13 Metallica Minerals Ltd Quarterly Report to June Figure 8 - Typical profile of the Macalister Upper seam with coal quality ranges Figure 9: Wire line logs and Macalister Upper Seam correlation across the boreholes in and around the southern portion of MDLA 406

14 14 Metallica Minerals Ltd Quarterly Report to June 2009 Figure 10: MetroCoal s schematic - 3 coal development strategies within the same coal project area Conventional Mining MetroCoal s tenements offer a unique opportunity for conventional mining in the shallower areas combined with UCG in the deeper areas (> m). Given the large tenement area over a prime portion of the Surat Basin there is excellent potential for the definition of huge tonnages of coal. MetroCoal is therefore looking for areas where the coal seam structure would be suited to modern, mechanised underground mining systems and potentially even modest opencast mineable areas. Examination of our recent drilling results and other available geological data confirms that the Macalister Upper Seam is continuous and correlateable over most of our tenements with variable seam thickness between 2 metres and 6 metres. The seam is variable due to the depositional environment, and the Macalister Upper is a stratigraphic marker horizon as it is readily identifiable in nearly all current and historical drill holes with its unique geophysical signature. This seam thickness and continuity present real opportunities for modern high productivity longwall mining. Discussions have commenced to obtain the necessary port and rail capacity and are also continuing with potential Joint Venture partners to exploit these conventional mining opportunities. Figure 10 is a schematic illustrating the MetroCoal concept of exploiting shallow open pitable coal, shallow-medium depth underground mining coal and the exploitation of medium to deep coal using UCG. Underground Coal Gasification (UCG) UCG is a method of exploiting underground coal deposits typically 150m 350m (or even deeper) below surface without mining. The coal is gasified underground, in situ, by burning the coal seam in the presence of a controlled supply of oxygen, with the resulting coal gas, known as synthesis gas or syngas which is comprised principally of hydrogen, carbon monoxide, carbon dioxide, methane and water vapour. The resulting syngas is returned to the surface where it is cleaned and used for power generation and/or converted to liquids, such as clean diesel and other fuels, using new-age gas to liquids (GTL) technology. The process is ideally suited to carbon capture allowing the carbon footprint to be reduced to levels below that associated with conventional fuel production. The UCG process does not involve mining and therefore has a limited impact on the surface and environmental controls ensure that sub surface aquifers are not adversely affected. A major attraction of UCG is that it brings vast tonnages of otherwise stranded coal to account. The forecast higher oil prices, looming supply constraints, national energy independence concerns and a focus on alternative cleaner energy options will drive significant expansion of the UCG sector in the near and longer term. Uhde Sheddon, a Thyssen Krupp company, has completed a comprehensive report describing the syngas conversion processes and resulting products that are technically and practically feasible. This work confirms the huge value locked into the deep coal that is realised through UCG. This information will be used in considering the technical options available to bring in UCG and GTL expertise. As stated in the MetroCoal strategy the decision on a technology pathway will be made after more complete knowledge of the coal in the tenements has been gained. Timing of this decision gives MetroCoal a substantial strategic advantage as a lot of developmental work is underway both in Australia and overseas and it is expected that there will be continuous improvement in all facets of the UCG-CTL industry over the next few years.

15 Metallica Minerals Ltd Quarterly Report to June Future Demand underpins UCG Strategy Forecasts of liquid fuel supply and demand carried out by various agencies all show Australia s growing trade imbalance and increasing reliance on imported liquid fuel. Graph 1 shows the forecasts sourced from ABARE, Geoscience Australia and APPEA. In 2015, based on these figures, Australia will be importing around 600,000 barrels a day which, at A$100 per barrel, will cost almost A$25 billion. UCG can play a vital role in providing a secure alternative to these imports in the face of increasing global demand and tightening supply and MetroCoal s tenements provide an ideal base to participate in this future development. Graph 1: Australian Liquid Fuel Supply and Demand Table 3: Juandah Project Macalister Upper Coal Seam Resource Inferred Resource 149Mt Indicated Resource 22.5Mt Inferred & Indicated Resource 172Mt Source ABARE Competent Persons Statement The information in this statement that relates to in situ coal results and resources is based on information compiled by GeoConsultant and reviewed by Warwick Smyth, who is a member of the Australasian Institute of Mining and Metallurgy (CP) Geology; and the Australian Institute of Geoscientists. Warwick Smyth is a qualified geologist (BSc Geol, Grad Dip AF&I, MAusIMM (CP), MGSA, MAIG), and has over 17 years experience which is relevant to the style of mineralisation, the type of deposit under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the 2004 edition of the Australia Code for Reporting of Coal Resources. Warwick Smyth consents in writing to the inclusion in the statement of the matters based on the information in the form and context in which it appears. The information in this statement that relates to in situ coal results are based on information compiled by Neil Mackenzie-Forbes, MetroCoal Ltd s coal geologist, who is a member of the Australian Institute of Geoscientists. Neil Mackenzie-Forbes, is a qualified geologist (B App Sc, MAIG), and has over 15 years experience with over 9 years relevant to the style of mineralisation, the type of deposit under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the 2004 edition of the Australia Code for Reporting of Coal Resources. Neil Mackenzie- Forbes consents in writing to the inclusion in the statement of the matters based on the information in the form and context in which it appears.

16 16 Metallica Minerals Ltd Quarterly Report to June 2009 Bauxite MLM holds approximately 33 of Cape Alumina Ltd Cape Alumina Ltd (Cape) became listed on the ASX (code CBX) on 29 January, 2009, on the back of its 100 of the Weipa Bauxite project on Queensland s Cape York Peninsula, see Figure 11 Cape is a specialist bauxite (ore for aluminum) exploration and development company. Metallica has a strategic 33 shareholding (comprises 42.3 million ordinary shares) in Cape. June Quarter Highlights Cape has upgraded Pisolite Hills bauxite resource to 130Mt (previously 100Mt) which is expected to yield 86 Mt of dry product bauxite (see Table 5 on page 17 of this Report). Hydrology studies establish that bauxite at Pisolite Hills is not the source of groundwater flows to springs and the Wenlock River, and that mining the bauxite will have little or no impact on the hydrologic connectivity between the groundwater reservoir, the springs and the Wenlock River Work Planned for September Quarter Approximately 1,400 additional aircore drillholes at 80x80m spacing are planned for the PH1 deposit. The objective is to re-classify approximately 50 of the total resource as Measured Resources to meet the requirements of the Bankable Feasibility Study. Environment During the quarter Cape lodged a submission with the Minister for Environment and Resource Management on the proposed declaration of the Wenlock River Basin as a Wild River Area. The submission objected to the use of arbitrary boundaries to define the proposed high preservation areas (HPA) and called for a substantial reduction in the width of the HPA around Pisolite Hills. The Cape submission provided the scientific basis for appropriate set-backs around springs and minor tributaries of the Wenlock River in the vicinity of Pisolite Hills to provide maximum protection of environmental features whilst preserving access to valuable mineral resources. Cultural Heritage and Community Figure 11: Cape Alumina s Weipa Bauxite Project Tenements & Regional Setting Negotiations for the Pisolite Hills Indigenous Land Use Agreement (ILUA) continued through the June quarter. Some delays have been experienced due to the complexity and scope of the agreement being negotiated and the ambitious time frame originally set. Feasibility Study During the quarter the pre-feasibility study (PFS), which had been completed in 2008, was reviewed with a number of project options being more fully tested in preparation for commencement of the Bankable Feasibility Study (BFS) in the September quarter. Financial As at 30 June 2009, Cape Alumina Limited had funds on hand of approximately $11.5 million

17 Metallica Minerals Ltd Quarterly Report to June Table 5: Mineral Resource for Pisolite Hills bauxite deposits within EPM14547 and EPM15278 Area Resource Category In-situ Dry Tonnes (Mt) Dry Beneficiated Tonnes (Mt) Total SiO2 () Total Al2O3 () Beneficiated Bauxite Qualities Fe2O3 () TiO2 () LOI () Recovery () PH1 Indicated Inferred Total PH2 Measured Inferred Total PH3 Indicated Inferred Total PH4 Indicated Inferred Total PH5 Indicated Inferred Total PH6 Indicated Inferred Total Total Measured Total Indicated Total Inferred GLOBAL TOTAL * RSiO2 Reactive silica at 150 C ** THA - Trihydrate Available Alumina (gibbsite alumina + kaolinite alumina - low temperature desilication product [DSP] alumina) at 150 C Note: The Pisolite Hills Mineral Resource has been reported assuming that the bauxite will be blended with an external source during low-temperature processing to ensure that the bauxite material feed achieves reactive silica and iron oxide thresholds specific to a nominated alumina refinery. Feasibility Study Work Planned for September Quarter Feasibility study work during the September quarter will include: Geotechnical investigations of the proposed haul road or overland conveyor route and mine areas; Review of the risk assessment ledger and undertake a risk assessment workshop; and Close-out of the PFS, finalization of the tender process for the BFS, and commencement of BFS. Competent Persons Statement The information in this report related to Mineral Resources was compiled by Mr Justin Legg and Mr Matthew Nimmo and reviewed by Mr Justin Watson, who are full time employees of Snowden Mining Industry Consultants. Mr Legg and Mr Watson are Members of The Australasian Institute of Mining and Metallurgy and Mr Nimmo is a Member of the Australian Institute of Geoscientists. The Mineral Resource estimate is based upon and accurately reflects data compiled by Mr John Cameron who is a full time employee of Cape Alumina Limited and reviewed by Mr Legg, Mr Nimmo and Mr Watson. Mr Legg, Mr Nimmo, Mr Watson and Mr Cameron all consent in writing to the inclusion in the matters based on the information and context in which it appears in this report. RSiO2 ()* THA ()** Mr Watson and Mr Cameron have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The information in this report that relates to Exploration Results is based on information compiled and supplied by Mr John Cameron from Cape Alumina Limited. Mr John Cameron is a full-time employee of Cape Alumina Limited and a member of the Australasian Institute of Mining and Metallurgy.

18 18 Metallica Minerals Ltd Quarterly Report to June 2009 Figure 12: Cape Alumina s Weipa Bauxite Project Tenements, Regional Setting and proposed bauxite transport route LEGEND Cape Alumina drill holes 2006 Cape Alumina drill holes 2007 Cape Alumina drill holes 2008 Pisolitic bauxite plateau drilled by Cape Alumina RTA ML7031 8,650,000mN EPM15278 PH 5 640,000mE MLA20574 PH 6 MLA ,640,000mN PH 4 PH 2 PH 3 320m x 320m drill spacing MLA m x 80m drill spacing EPM m x 160m drill spacing EPM ,630,000mN 630,000mE PH 1 0 N 5 Km Figure 13: Pisolite Hills Bauxite Resources within Mining Lease Application

19 Metallica Minerals Ltd Quarterly Report to March Queensland Ores Limited MLM holds approximately 76 On 9 June 2009, Metallica closed its 1 MLM for 22 QOL scrip takeover bid for Queensland Ores Limited (QOL) holding approximately 71 of QOL s issued capital. On 26 June 2009, QOL closed a rights Issue with 177,307,572 shares allotted on 1st and 7th July Metallica subscribed its full entitlement of $1.31 million in the Rights Issue which raised a total of approximately $1.6 million. At the close of the rights issue Metallica holds approximately 76 of QOL. QOL currently has approximately million shares on issue. On 29 June 2009 the loan (with interest) of $611,600 to QOL from Outback Metals Limited was repaid in full, and as at 30 June 2009 QOL had funds on hand of $1,250,000 and creditors of $110,000, effectively no debt, with all of its assets unencumbered. On 9 June 2009, Mr Ken Dredge and Mr John Greenwood resigned as Directors of QOL, and Mr David Barwick and Mr Andrew Gillies were appointed as Directors of the Company, with Mr Barwick being appointed Chairman of Directors. Mr Roger Marshall and Mr Barry Kelly remained as Directors of QOL. Also on this date Mr Garry Gill resigned as Company Secretary of QOL and Mr John Haley was appointed as Company Secretary. Mr Barwick, Mr Gillies and Mr Haley are all Directors of Metallica. resource definition drilling programme is being planned and budgeted and is expected to commence in September/October. No activities took place at the Mount Cannindah or Bamford Hill projects. Wolfram Camp (QOL 85) (Tungsten-Molybdenum Project, near Dimbulah, North Queensland) Care and maintenance activities continued during the quarter at the Wolfram mine Camp Project. Regular inspections of the site took place and routine tasks such as rotating the ball mill and running sump pumps in the Treatment Plant were scheduled. Mount Cannindah (QOL 100) (Copper-Gold-Silver Project, near Monto, South-East Queensland) In order to conserve cash no exploration work took place at Mount Cannindah during the quarter. Bamford Hill (QOL earning up to 85) (Tungsten, Molybdenum, Tin and Gold Prospect, 30kms South West from Wolfram Camp) As with Mount Cannindah, no exploration work was undertaken during the quarter. Activities planned to 30 September 2009 An extensive on site resource definition and exploration drilling program is expected to commence in September/October to further evaluate and confirm the open cut mineable tungsten & molybdenum resources. Normal care and maintenance activities will continue at the Wolfram Camp Mine. The Ball Mill charge will be unloaded and the balls will be stockpiled for future use. Sampling and monitoring of both surface and groundwater will continue as per regulatory requirements. Site remedial earthworks related to the stormwater diversion drain, site roadworks and cleaning out of the sediment traps. Bentonite will be added to several small sink holes located within the main tailings dam in an attempt to limit the seepage from the dam through the main wall. The investment in QOL will allow Metallica to apply its expertise in restoring the Wolfram Camp Tungsten and Molybdenum project with a view of returning it to production. However no timing can be placed on this program until a complete resource (after further drilling) and metallurgical review is undertaken. Operations Mine care and maintenance activities continued to be undertaken in the quarter at the Wolfram Camp Project with frequent site inspections being carried out. A major Aerial photo of Wolfram Camp processing plant & Tungsten-Moly ore mining area Wolfram Camp processing plant (currently under Care and Maintenance)

20 20 Metallica Minerals Ltd Quarterly Report to June 2009 Kokomo Scandium Project Metallica 80 Straits Resources Ltd 20 The Kokomo scandium deposit is located on the central Kokomo Plateau which is situated approximately 50 km north of the Greenvale township. Scandium was first discovered when Metallica completed a 29 hole drilling programme over the Kokomo nickel-cobalt laterite deposit in A 530 hole RC programme totalling approximately 15,000m was completed over the Kokomo nickel laterite deposit in 2008, with the drilling also covering areas of scandium mineralisation. An in-house resource estimate has now been completed for the scandium content of the Kokomo laterite deposit by Metallica. The initial scandium (Sc) resource estimate (based on 106 drill holes) for the Kokomo scandium deposit comprising four zones of scandium mineralisation totalled 4.55 million tonnes at 131 g/t Sc for 596 tonnes of contained scandium metal, see table 6 Table 6: Kokomo Scandium Deposit - Resource Categories Category June Quarter Scandium Evaluation Activities Of the 140 RC holes completed at Kokomo between the 9th of June and the 9th of July principally for nickel cobalt resource definition, thirty (30) intersected significant scandium mineralisation (i.e.>80ppm Sc). The scandium mineralisation usually occurs separately and/or above the nickel-cobalt mineralisation but can occur within the Ni- Co mineralised envelope. Better results for the scandium mineralisation drilled in the last phase of nickel cobalt drilling included:- KK-627 8m KK m KK-678 7m KK m Tonnes 228ppm Sc from 195ppm Sc from 205ppm Sc from 172ppm Sc from 0m Sc ppm Work Planned for September Quarter Complete the current Kokomo Ni-Co-Sc drilling program in August. Select out the significant scandium rich holes and add to the existing scandium drill hole database for purpose of completing independent scandium resource estimation studies. Progress the proposed large Kokomo Mining Lease application for the combined purpose of nickel-cobalt (100 NORNICO) and scandium (80 MLM, 20 Straits) laterite mining. Metallica and Joint Venture partner Straits resources are seeking to actively corporatise their respective interests in the scandium project to more purposely progress the scandium resources and opportunities related to scandium uses and markets (with or without third parties) within its own corporate structure, management and funding capacity. Tonnes Sc Metal Indicated Inferred Total The Kokomo scandium resource has been estimated using the following criteria - The resource is based on 107 RC holes - A COG for scandium of 60ppm was applied - Only intercepts greater than 1m were included - Internal dilution of up to 2m was used - No top cut was applied - Only the scandium mineralisation within the laterite zone was included in the estimate - Scandium values >60ppm in fresh rock were not included in the resource, Individual holes with >60ppm Sc which plotted outside the four main zones were also not included in the resource - The resource estimate was calculated by a manual arithmetic mean cross sectional area method - An SG of 1.65 was used for the laterite based on results from diamond drill core and shallow pits - In the areas where the drilling has been closed up to 50m by 40m the resource can be classified as Indicated and the remainder of the resource can be classified as Inferred. Competent Persons Statement This Mineral Resource estimate for the Kokomo Scandium project is based upon and accurately reflects data compiled and validated by Patrick Smith (Metallica s Exploration manager) who is a Member of the Australasian Institute of Mining and Metallurgy and a full time employee of Metallica Minerals Ltd. Mr Smith has sufficient experience that is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Smith consents to the inclusion of this information in the form and context in which it appears in this document.

21 Metallica Minerals Ltd Quarterly Report to June Exploring for copper-gold uranium on prominent South Australian gravity high targets Metallica can earn a 75 interest in three IOCGU style targets In Mid July 2009, Metallica signed a joint venture agreement with Adelaide based minerals explorer Salisbury Resources Ltd (Salisbury) whereby Metallica can earn up to a 75 interest in three highly attractive tenements (Toby, Lake Torrens and Merna Mora). Within each of the three tenements, attractive Iron Oxide-Copper-Gold-Uranium (IOCGU) - Olympic Dam style targets have been identified. Metallica has taken a cornerstone seed capital investment in private Adelaide-based explorer, Salisbury Resources Ltd, and will inject an additional initial $300,000 into exploration campaigns on the three Salisbury s projects. In addition to the $300,000, Metallica has made a $100,000 cash investment that will give Metallica a 6 interest ahead of the Adelaide explorer s planned Initial Public offer (IPO) and ASX listing later this year, subject to improved equity market conditions. The targets have coincident prominent gravity highs associated with interesting magnetic features under cover in a similar exploration setting to Olympic Dam, Carrapateena and Prominent Hill deposits. Metallica has committed to two 500m vertical holes (spaced approximately 16km apart) to test the distinct Toby gravity and magnetic anomalies and basement high. This drilling will most likely be followed by drilling on Merna Mora and Lake Torrens targets once current ground gravity and magnetic surveys are completed to better define the anomalies for drill site selection. Mobilisation of the drill rig for Toby commenced on Wednesday 22nd July with drilling started on the first Toby precollar hole on 26th July. With the drilling of basement (estimated to be around m depth) and target zones is forecast to start around the 8th of August. The three IOCGU farm-in projects are: The 188 km2 EL 3402 ( Toby), 65km east of Oodnadatta The 293 km2 EL 3630 ( Merna Mora) 30km SW of Hawker The 1,207 km2 EL 4118 and EL 4119 (Lake Torrens) project, 50km east of the Carrapateena IOCGU deposit. For further information see MLM ASX release dated 20 July 2009 LOW RES Figure 14: EL 3402 & Toby Target Bouguer Gravity Anomaly Highs RTP Plan showing the two proposed drill holes

22 22 Metallica Minerals Ltd Quarterly Report to June 2009 Coober P e dy Adela id e Figure 15: Three Salisbury Tenements in JV with Metallica Proposed Drillhole 2 Proposed Toby 1 Drillhole Figure 16: Toby Tenement and Targets with proposed hole locations - Reduced to pole magnetic intensity image overlaid with the partial derivative band pass filter gravity contours

23 Notes 23 Limestone Projects Metallica 100 Metallica owns six strategically located, high quality limestone projects comprising Ootann (near NORNICO), Star and Mt Podge (near Lucky Break & Townsville), Boyne and Fairview (both near Gladstone), and the newly recognised Blue Rock deposit between Minnamoolka and Kokomo. Ootann Phoenix Lime Pty Ltd (a wholly owned subsidiary of Metallica) holds 240ha of mining leases covering a large high grade limestone deposit suitable for calcining and underpinning NORNICO s lime and limestone requirements. Ootann is located approximately 130km via road from the proposed NORNICO processing site. Ootann Feasibility Metallica-Phoenix Lime has investigated the construction of a new lime kiln at the Ootann limestone quarry operation for the life span of the NORNICO nickel project. To support this, a comprehensive drilling program was completed on site. The results of this drilling program are being used to determine a JORC resource and this information will then be used to prepare a detailed whole of mine plan. Ootann Sales The past year saw significant sales of crushed limestone to the Tablelands Regional Council (TRC) for use in roadwork. The 5km of road-works sheeted with Ootann s crushed rock prior to Christmas continues to stand up well after an extended wet season. Sales of agricultural lime have been solid over the past year and are increasing. Fairview Results of the drilling program completed in the December Quarter have been assayed and this information has been collated to prepare a resource statement. This has been supplied to the Department and consequently we have been offered the MDL applied for at Fairview. An MLA will be placed over the Fairview Limestone deposit comprising approximately 29Mt of Limestone to a maximum depth of 25m) in the coming weeks to ensure we are in a position to extract limestone at Fairview when the opportunity arises. Boyne The two Boyne mining leases contain large high quality limestone deposits for crushed limestone and lime products suitable for markets in the Gladstone region. Proposed activities for the latter half of 2009 include the completion of a drilling program and defining a resource within the Boyne SW mining lease. Star No field work or activities have been undertaken recently. CHALCO have revealed that they will require 50,000tpa of limestone for boiler desulphurisation, and limestone from Star River will be included in our supply proposal. Blue Rock This limestone deposit is conveniently located between Minnamoolka and Kokomo nickel deposits, approximately 60km from the proposed NORNICO nickel operation. Site 4WD access, mapping and sampling was completed in the September Quarter Stone samples assayed indicate outcropping limestone to be of high quality. It s our intention to peg a mining lease encompassing this outcrop and surveying access roads accordingly. Mount Podge The Mount Podge EPM was granted in Jan It is located 80km West of Townsville and 24km north via existing road from the Herveys Range Road close to the Star River mining lease. As soon as it is possible reconnaissance of this ground will be carried out. This area has the potential to provide a significant high grade limestone resource close to infrastructure (including mains power).

24 24 Metallica Minerals Ltd Quarterly Report to June 2009 Urquhart Point Heavy Mineral Sands (HMS) Project MLM 100 During October 2008 the Urqhuhart Point JV partner and manager Matilda Minerals Ltd (ASX: MAL) went into administration and no significant exploration was conducted on the project since that time. Metallica is reviewing its options on how it should progress the Weipa heavy minerals sands (HMS) project. A high-grade zircon and rutile deposit In 2008, Matilda Identified an Indicated Resource of 2.8 million 7.0 heavy Mineral (HM) to a maximum depth of 3 metres. The valuable HMS suite is dominated by zircon and rutile, likely greater than 30 combined. For further information see Matilda Minerals Ltd ASX release dated 1 May shell auger holes and 101 spiral auger holes were drilled at Urquhart Point on a nominal 200m by 30m grid. The valuable heavy mineral (VHM) suite is dominated by zircon and rutile. Based on data from six composite samples the likely VHM suite will contain an average of greater than 30 combined zircon and rutile, with most of the remainder being ilmenite and iron oxides. Significantly the nonmagnetic fraction is almost entirely zircon and rutile with very small percentages of trash minerals. Figure 17: Urquhart Point Heavy Mineral Sands Project Competent Person Statement The resource estimates and exploration comments for the Urquhart heavy mineral sands project, have been prepared by Mr Roger Hobbs BAppSc (Geophys & Geol), MAusIMM, an Executive Director of Matilda, who has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which is to be undertaken to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hobbs consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Significantly mineralised heavy mineral (HM) strands extend for over 5 kilometres see Figure 17. Analysis indicates approximately 30 of the HM will be high quality zircon and rutile. Results indicate low slimes and thus low cost processing and rehabilitation. 9 kilometres of coastline still to be tested at Urquhart Point prospect.

25 Metallica Minerals Ltd Quarterly Report to June Kokomo Drill Hole Table 7 Parameters & Assay Results KK-607 to KK-745 Holes Drilled Between June 9th & July 9th 2009 Hole No Easting Northing Dip Azim Depth From (m) To (m) Intercept (m) KK KK NSR KK Terminated in 0.90 Ni,cavities, bad ground KK NSR KK KK NSR KK KK KK KK KK KK KK KK NSR KK KK KK NSR KK NSR KK NSR KK NSR KK KK NSR KK KK NSR KK KK KK NSR KK NSR KK KK KK KK KK NSR KK KK NSR KK KK KK KK Ni Co Fe Mg

26 26 Metallica Minerals Ltd Quarterly Report to June 2009 Kokomo Drill Hole Parameters & Assay Results KK-607 to KK-745 Holes Drilled Between June 9th & July 9th 2009 Hole No Easting Northing Dip Azim Depth From (m) To (m) Intercept (m) KK KK KK NSR KK KK And KK NSR KK KK KK NSR KK KK KK KK NSR KK NSR KK NSR KK NSR KK KK KK KK NSR KK KK KK KK KK NSR KK NSR KK NSR KK NSR KK NSR KK NSR KK KK KK KK And KK Ni KK KK KK KK Co Fe Mg

27 Metallica Minerals Ltd Quarterly Report to June Kokomo Drill Hole Parameters & Assay Results KK-607 to KK-745 Holes Drilled Between June 9th & July 9th 2009 Hole No Easting Northing Dip Azim Depth From (m) To (m) Intercept (m) KK KK KK KK KK KK KK Hole abandoned KK-691A KK KK KK KK KK KK KK KK KK KK KK KK NSR KK KK KK KK KK KK NSR KK NSR KK NSR KK NSR KK NSR KK KK NSR KK KK NSR KK NSR KK NSR KK KK NSR KK And KK KK NSR KK NSR Ni Co Fe Mg

28 28 Metallica Minerals Ltd Quarterly Report to June 2009 Kokomo Drill Hole Parameters & Assay Results KK-607 to KK-745 Holes Drilled Between June 9th & July 9th 2009 Hole No Easting Northing Dip Azim Depth From (m) KK NSR KK NSR KK NSR KK NSR KK NSR KK NSR KK NSR KK NSR To (m) Intercept (m) KK KK KK KK-736A KK KK KK KK KK KK KK And And KK KK and Ni Co Fe Mg Table 8: Resource Totals for each of the NORNICO Deposits (Measured +Indicated +Inferred) Nickel Deposit Million Tonnes (Mt) Ni Co Fe Mg In-situ Contained Ni Metal In-situ Contained Co Metal Bell Creek South ,580 6,690 Bell Creek North ,660 1,180 Bell Creek Northwest ,710 1,970 The Neck , The Pod , Minnamoolka ,820 4,280 Kokomo # ,080 14,460 Totals ,990 29,040

29 Metallica Minerals Ltd Quarterly Report to June Table 9: NORNICO Nickel Resource Inventory Measured, Indicated and inferred (19/01/09) Nickel Deposit Resource Category Bell Creek South (BCS) Tonnes (Mt) Ni Co Fe Mg In-situ Ni Metal In-situ Co Metal Measured ,010 6,540 Indicated , Bell Creek North (BCN) Indicated ,660 1,180 Bell Creek Northwest (BCNW) Indicated ,710 1,970 The Neck - Between BCS & BCN Indicated , The Pod # - west of BCS Inferred , Minnamoolka Indicated ,260 3,670 Inferred , Kokomo* Indicated ,880 6,760 Inferred ,200 7,700 Totals Tonnes (Mt) Ni Co Fe Mg In-situ Ni Metal In-situ Co Metal Measured ,010 6,540 Indicated ,200 14,050 Inferred ,780 8,450 Overall total ,990 29,040 Notes: 1. Above categories all calculated using a 0.45 Ni cut-off grade-with the exception of Kokomo which was estimated using a 0.70 Ni Eq cog (1Ni + 3 Co) 2. Block models for the above resources (with exception of The Pod) estimates were constructed by filling wire frame surfaces representing nickel laterite mineralization boundary with 10m by 10m by 1m blocks. Nickel (Ni) grades were estimated by ordinary kriging using various search radius, depending on the drill spacing of the deposit. A minimum of 4 and a maximum of 15 composites were used to estimate each block, with a maximum of 3 composites from any 1 drill hole. Therefore, at least 3 drill holes were used to estimate block grade values. At Bell Creek South, Minnamoolka and Kokomo a nominal 0.3 Ni mineralised envelope was used as a hard boundary for Ni and Co block grade estimation. Hard boundaries were also used between the laterite and basement zones. 3. Variations due to rounding factors 4. Iron (Fe) and magnesium (Mg) are included to indicate the overall ore quality, as both metals influence acid consumption as well as dissolved Fe, Mg and other metals, which are contaminants to nickel loaded pregnant solution which is treated to produce a marketable nickel and cobalt intermediate product. As a rule, the lower the Fe and Mg in the laterite ore the better metallurgy and the ore is more suited to heap leach processing. # The Pod Inferred resource was estimated using an arithmetic mean cross sectional (polygonal) method, a 0.45Ni external cut-off grade and a minimum assumed mining width of 2m was applied. (ASX Release Competent Person Patrick Smith) * A higher cut-off grade has been applied to the Kokomo Resource than the other NORNICO resources as the expected metal extraction process will be different and may require trucking of ore or transporting acid from Bell Creek located 60 km to the north. Competent Persons Statement Technical information and exploration results for the NONNICO project contained in this report has bee compiled by Metallica Minerals Ltd full time employees Andrew Gillies in the position of Managing Director and Metallica Minerals Ltd Exploration Manager, Mr Pat Smith MSc. B.Sc (Hons). Mr Gillies and Mr Smith are members of the Australasian Institute of Mining and Metallurgy and have relevant experience ito the mineralisation being reported on to qualify as Competent Persons as defined by the Australasian Code for Reporting of Minerals Resources and Reserves. Mr Gillies and Mr Smith consent to the inclusion in this report of the matters based on the information in the form and context in which it appears.

30 30 Metallica Minerals Ltd Quarterly Report to June 2009 Tenement schedule (as at 30th June 2009) Nickel-Cobalt Projects Tenement Project Name Holder/ Applicant Status (expiry date) No. Sub Block Commodity Targeted Min. Annual Expenditure ML 4187 Bell Creek North Lease NORNICO Pty Ltd Granted (29/2/2020) Ha Ni, Co N/A ML 4188 Bell Creek South Lease NORNICO Pty Ltd Granted (29/2/2020) Ha Ni, Co N/A ML Dingo Dam NORNICO Pty Ltd Granted (28/02/2026) Ha Ni, Co N/A ML Lucky Break NORNICO Pty Ltd Granted (30/11/2027) Ha Ni, Co N/A MLA Bell Ck Consolidated NORNICO Pty Ltd Application 2145 Ha Ni, Co N/A MDL 387 Minnamoolka NORNICO Pty Ltd Granted (30/6/2013) ha Ni, Co $50,000 EPM Minnamoolka NORNICO Pty Ltd Granted (8/9/2008)* 5 Ni, Co $50,000 EPM Kokomo NORNICO Pty Ltd Granted (21/8/2008) 21 Ni, Co, Sc, Au $100,000 EPM Bell Creek NORNICO Pty Ltd Granted (27/8/2008)* 8 Ni, Co $50,000 EPM Greenvale South NORNICO Pty Ltd Granted (22/08/2009)* 48 Ni, Co, PGE $40,000 EPM Greenvale North NORNICO Pty Ltd Granted (22/08/2009)* 65 Ni, Co, Cu, Au $50,000 EPM Mt Garnet South NORNICO Pty Ltd Granted (22/12/2008)* 80 Ni, Co, Au, PGE $60,000 EPM Lucky Downs NORNICO Pty Ltd Granted (22/08/2009)* 18 Ni, Co, Cu $30,000 EPM Moonmyata NORNICO Pty Ltd Granted (22/12/2012) 8 Ni, Co, Au, PGE $40, EPM Greenvale South #2 NORNICO Pty Ltd Granted (14/12/2009)* 15 Ni, Co, Cu $40,000 EPM Lucky Break NORNICO Pty Ltd Granted (29/6/2009)* 16 Ni, Co $40,000 EPM Mt Garnet South #2 NORNICO Pty Ltd Granted (7/3/2010) 87 Ni, Co, Au, Cu $40,000 EPM Pinnerendi NORNICO Pty Ltd Granted (16/6/2010) 12 Ni $60,000 EPM Yellow Jack NORNICO Pty Ltd Granted (26/6/2010) 13 Ni, Co $40,000 EPM Sandy Creek NORNICO Pty Ltd Granted (8/11/2010) 50 Ni, Co, Au, U. $40,000 EPM Kinrara NORNICO Pty Ltd Granted (26/9/2008)* 67 Ni, Co, PGE, Cu $40,000 EPM Gunnawarra NORNICO Pty Ltd Granted (7/12/2011) 6 Earthy Dolomite $13,000 EPMA Pinnacles NORNICO Pty Ltd Granted (26/4/2014) 16 Ni, Co $50,000 EPMA Lockup Well NORNICO Pty Ltd Application 1 Ni, Co $15,000 EPMA Broken River South NORNICO Pty Ltd Application 3 Ni, Co $20,000 EPMA Canoona NORNICO Pty Ltd Application 22 Ni, Co $20,000 Note: NORNICO Pty Ltd previously named QLD Gold Pty Ltd. NORNICO is a 100subsidiary of Metallica Minerals Ltd.

31 Metallica Minerals Ltd Quarterly Report to June Coal Projects (MetroCoal Ltd) Tenement Project Name Holder/ Applicant Status (expiry date) No. Sub Block EPC 1152 Lockyer Valley MetroCoal Limited Granted (11/12/2012) 150 EPC 1159 Injune Creek MetroCoal Limited Granted (11/12/2010) 237 Commodity Targeted Open Cut Thermal Coal & UCG Open Cut Thermal Coal & UCG Min. Annual Expenditure $60,000 $55,000 EPC 1164 Wandoan West MetroCoal Limited Granted (11/12/2010) 215 UCG & UC $55,000 EPC 1165 Columboola MetroCoal Limited Granted (9/12/2010) 294 UCG & UC $55,000 EPC 1166 Dalby West MetroCoal Limited Granted (11/12/2012) 97 UCG & UC $60,000 EPC 1167 Roma North MetroCoal Limited Granted (11/12/2010) 289 UCG & UC $55,000 EPC 1251 Wandoan West 2 MetroCoal Limited Granted (16/9/2013) 19 UCG & UC $20,000 EPCA 1501 Dugandan MetroCoal Limited Offered for grant 20 UCG & UC $40,000 EPCA 1609 Wandoan West 3 MetroCoal Limited Application 18 UCG & UC $40,000 EPCA 1640 Pentland South MetroCoal Limited Application 114 UCG & UC $120,000 MDLA 406 Juandah MetroCoal Limited Application 4986 ha UCG & UC $330,000 Note: MetroCoal Limited owned 84 by Metallica Minerals Limited. All tenements held 100 by MetroCoal. Limestone Projects Tenement Project Name Holder/ Applicant Status (expiry date) No. Sub Block Commodity Targeted Min. Annual Expenditure ML Star River Limestone Metallica Minerals Ltd Granted (30/4/2023) Ha Limestone N/A ML Boyne Limestone NE Metallica Minerals Ltd Granted (30/4/2027) Ha Limestone N/A ML Boyne Limestone SW Metallica Minerals Ltd Granted (30/9/2027) Ha Limestone N/A EPM Boyne Limestone Metallica Minerals Ltd Granted (1/1/2011) 4 Limestone $10,000 EPM Fairview Limestone Metallica Minerals Ltd Granted (10/12/2011) 2 Limestone $10,000 EPM Fairview Extended Metallica Minerals Ltd Granted (23/10/2007)* 2 Limestone $60,000 EPM Mt Podge Phoenix Lime Pty Ltd Granted (12/2/2014) 4 Limestone $22,500 MDLA 394 Fairview Metallica Minerals Ltd Application Ha Limestone $50,000 ML 4788 Crotty 1 Phoenix Lime Pty Ltd Granted (31/1/2026) Ha Limestone N/A ML 4789 Crotty 2 Phoenix Lime Pty Ltd Granted (31/1/2026) Ha Limestone N/A ML 5079 Crotty Phoenix Lime Pty Ltd Granted (30/4/2025) Ha Limestone N/A ML 5372 Crotty 3 Phoenix Lime Pty Ltd Granted (31/1/2013) 210 Ha Limestone N/A Note: Phoenix Lime Pty Ltd is a 100 subsidiary of Metallica Minerals Ltd.

32 32 Metallica Minerals Ltd Quarterly Report to June 2009 Gold, Precious and Base Metals, other Projects Tenement Project Name Holder/ Applicant Status (expiry date) No. Sub Block Commodity Targeted Min. Annual Expenditure EPM Six Mile NORNICO Pty Ltd Granted (10/12/2007)* 51 Gold, Copper $50,000 EPM Texas North Oresome Australia Pty Ltd Granted (22/08/2009) 11 Au, Ag $40,000 EPM EPMA EPMA EPMA EPM Urquhart Point Jackson River Doughboy Jardine Tondoon EPMA Jackson River #2 Oresome Australia Pty Ltd Oresome Australia Pty Ltd Oresome Australia Pty Ltd Oresome Australia Pty Ltd Oresome Australia Pty Ltd Oresome Australia Pty Ltd Note: Oresome Australia Pty Ltd is owned 100 by Metallica Minerals Limited. Granted (24/10/2012) 24 Offered for grant 14 Offered for grant 16 Offered for grant 45 Rutile, Zircon, HMS Rutile, Zircon, HMS Rutile, Zircon, HMS Rutile, Zircon, HMS $30,000 $15,000 $15,000 $15,000 Granted (22/05/2013) 18 Bauxite $17,000 Application 3 Rutile, Zircon, HMS $15,000 Note: ( * ) In Renewal PGE = Platinum Group Elements, HMS = Heavy Mineral Sands, All tenements 100 held unless expressed otherwise NORNICO Pty Ltd previously named QLD Gold Pty Ltd EPM = Exploration Permit for Minerals EPMA = Application for Exploration Permit for Minerals EPC = Exploration Permit for Coal EPCA = Application for Exploration Permit for Coal ML = Mining Lease MLA = Application for Mining Lease MDL = Mineral Development Licence MDLA = Mineral Development Licence Application UCG = Underground Coal Gasification targeted UC = Underground Coal (conventional) mining targeted

33 Mining Exploration Entity Quarterly Report APPENDIX 5B 33 Appendix 5B Mining exploration entity quarterly report Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001. Name of entity Metallica Minerals Limited ABN Quarter ended ( current quarter ) June 30, 2009 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $A 000 Year to date (12 months) $A Receipts from product sales and related debtors Payments for (a) exploration and evaluation (b) development (c) production (d) administration (1,757) (122) (726) (6,362) (247) (3,109) 1.3 Dividends received 1.4 Interest and other items of a similar nature received 505 1, Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) 121 Net Operating Cash Flows (2,073) (7,661) Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments shares in Cape Alumina Limited, Queensland Ores Limited and other shares (c) other fixed assets (1,529) - (3,341) (46) 1.9 Proceeds from sale of: (a) prospects (b) equity investments shares in Cockatoo Coal Limited - 19,800 (c) other fixed assets 1.10 Loans to other entities Cape Alumina Limited and Queensland Gold and Minerals - (792) Limited 1.11 Loans repaid by other entities Cape Alumina Limited Other (provide details if material) Net investing cash flows (1,529) 16, Total operating and investing cash flows (carried forward) (3,602) 8,460 Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid

34 34 APPENDIX 5B Mining Exploration Entity Quarterly Report 1.19 Other (provide details if material)sale of coal subsidiary companies Net financing cash flows Net increase (decrease) in cash held (3,602) 8, Cash at beginning of quarter/year to date 21,072 7, Exchange rate adjustments to item Cash at end of quarter 16,342 16,342 Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities Current quarter $A Aggregate amount of payments to the parties included in item Aggregate amount of loans to the parties included in item Explanation necessary for an understanding of the transactions The closing consolidated cash balance of $16,342,000 includes $33,000 held by an 84 owned subsidiary, Metrocoal Limited Non-cash financing and investing activities Current quarter $A Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest Financing facilities available Add notes as necessary for an understanding of the position 3.1 Loan facilities 3.2 Credit standby arrangements Estimated cash outflows for next quarter Amount available $A 000 Amount used $A 000 $A Exploration and evaluation 1, Development Total 1,950 Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows Current quarter $A 000 Previous quarter $A Cash on hand and at bank 1,222 4, Deposits at call 15,120 15, Bank overdraft 5.4 Other (provide details) Total: cash at end of quarter (item 1.22) 16,342 19,944

35 Changes in interests in mining tenements 6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased Tenement reference Mining Exploration Entity Quarterly Report APPENDIX 5B 35 Nature of interest (note 2) Interest at beginning of quarter EPM Exploration Permit EPM Nil EPM EPM Exploration Permit Exploration Permit EPMA Nil Issued and quoted securities at end of current quarter Interest at end of quarter EPM EPM Total number Number quoted Issue price per security (see note 3) (cents) 7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions Ordinary securities 121,740, ,740, Changes during quarter (a) Increases through issues 7,178,289 Escrow Release 7,178,289 (b) Decreases through returns of capital, buy-backs Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted 7.7 Options Exercise price (description and conversion factor) 2,000, cents Unlisted Options 500, cents Unlisted Options 2,250, cents Unlisted options 400,000 Unlisted Options 600,000 Unlisted Options 500,000 Unlisted options 500,000 Unlisted options 30 cents 65 cents 80 cents 65 cents Amount paid up per security (see note 3) (cents) Expiry date 31 Dec Dec Dec 2009 (vest 1 year after issue if employed) 31 Dec Sept 2012 (vest on 28 Sept 2009 if still employed) 31 Dec Sept 2012 (do not vest until 28 Sept 2009)

36 36 APPENDIX 5B Mining Exploration Entity Quarterly Report 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter 7.11 Debentures (totals only) 7.12 Unsecured notes (totals only) Total number Number quoted Issue price per security (see note 3) (cents) Amount paid up per security (see note 3) (cents) Compliance statement 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4). 2 This statement does give a true and fair view of the matters disclosed. Sign here:...date: July 31, 2009 (Director/Company secretary) Print name: JOHN KEVIN HALEY Notes 1 The quarterly report provides a basis for informing the market how the entity s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report. 2 The Nature of interest (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities. 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report. 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

37 A Queensland focused multi-commodity resource company ASX : MLM Subsidiary companies: NORNICO Pty Ltd ACN Oresome Australia Pty Ltd ACN Lucky Break Operations Pty Ltd ACN MetroCoal Limited ABN Phoenix Lime Pty Ltd ACN ABN: admin@metallicaminerals.com.au ASX : MLM 1 Potts St, East Brisbane QLD 4169 GPO Box 122, Brisbane QLD 4001