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December 14, 2005 Stock Pick: Metal Storm Limited (MTSX)

Stock Price: $2.99

Metal Storm Limited is a defense technology company engaged in the development of electronically initiated ballistics systems using its unique "stacked projectile" technology. The company is headquartered in Brisbane, Australia and incorporated in the US, with an office in Washington DC.

This company is working on many projects right now including Anti-RPG, Crowd Control, Torpedo Defense, and Dragonfly projects. Also, they have contracts underway with Boeing and the Department of Energy. There are even more ventures on the table for this company than mentioned. The company is in the stage of moving its products into the market from the development stage.

MTSX made a nice move higher over the summer up to as high as $4.84. It has since trended lower and now has begun to bottom. With everything on the table, it looks like there are catalysts for MTSX to start its next run higher.

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